Hiyas,
I am wondering if any of you would know if replacing an Asbestos roof would add (much) value to a property? We are looking at replacing one on an average size 3bdr Post War with an iron roof. Any rough idea of what a new roof costs? Any information would be great!Thanks [cowboy2]
If you can see the roof from the road (i.e. house is set down on the side of hill) then it will definitely improve value. But if you can’t see the roof (visually) then possibly not. They are ugly as hell. Still the outlay will probably not be realised in the short term. We had an ugly one that could be seen – it also needing repairing. Not too many people willing to repair asbestos. So redid it. In Adelaide. It costs 13,000 and that included disposal of asbestos roof (which amounted to about 3,000 and special suits have to be worn and it has to be disposed of in a different manner). I found the big roofing companies were a rip off with their quotes and a small one man band outfit got the job in the end. Adelaide prices are possibly less. Our house was possibly bigger – 4bedroom- two bathroom large living.
Markat
Email MeA small roof would cost about 10,000AUD and the asbestos removal would be from 3000AUD to 5000AUD. It is difficult to see that it would increase the value of the property by that much. While there is some concern about asbestos, it is not a problem if left in place and not worked on.
there are quite a few homes with asbestos roofs in my area and they do sit on the market for ages. remove the sheets cost about 2.5k and new iron about 6.5k.
Sourcing Positive Cashflow Investment Property http://www.cashflowproperties.co.nz/properties-5.html
Have you considered just painting the roof – if it is still okay and just looks bad. This is the cheapest option and looks a treat afterwards.
Good luck…Di
Yeah, painting the roof was our original idea. I was just trying to find out if replacing would be a better option. Thanks for the replies so far, $10k is what we were expecting.
i like a recent opinion on houses i read from an investors viewpoint.
“they keep the water out”
so if it aint leaking, don’t waste your money on it.
If you really need to replace roofing, then start with the side that faces the road, otherwise spend your money on other things that would add real value.
Live, Learn and GrowLifexperience
Hard to say. I replaced one up in Cairns for about $9k incl removal. Needed it plus I got $7.5k rebate off vendor price anyways cos the place was left in a bit of a mess after I signed contract. Looks nicer but definitely does buckleys to the rent, only re-sale in that area. If you’re not going to sell, just update kitchen and bathroom, pain job or install air-conditioning. Tenants will prefer that.
Yeah, this one is being done up to sell.
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