Does Asbestos Decrease A Home's Value?

Published on August 26th, 2022

There's a lot that goes into getting your home ready to sell. You have to make it look inviting from the street, you have to get it staged so that potential buyers can see themselves living there, and you might even need to do some repairs or touch-ups before putting it on the market.

One crucial thing that a lot of sellers don't think about, though, is asbestos.

Does asbestos decrease a home's value? And if so, what should you do about it? Keep reading for answers to these questions and more!

Does Asbestos Lower House Value?

Asbestos is a naturally occurring fibrous mineral used in various building materials for years.

However, asbestos fibers have been linked to several severe health conditions, and their presence in a property can significantly impact property value.

While the presence of asbestos won't necessarily mean that a property is worthless, it will likely decrease the value of the property and make it more difficult to sell.

Property owners aware of the presence of asbestos on their property should seriously consider asbestos removal by a licensed professional to avoid any potential health hazards.

Additionally, buyers should be sure to have any property they're considering purchasing inspected for asbestos before making an offer.

While the cost of having asbestos removal can be high, it's worth it for the peace of mind and a potential increase in property value.

How Does Asbestos Affect A Property’s Value?

Asbestos lowers property’s value because:

It Is A Serious Health Risk:

If you think you may have asbestos in your home, the best thing to do is call a professional to come and take a look. Asbestos is a hazardous material, and if it's not handled correctly, it can pose a severe health risk. However, if you find asbestos that is intact and undisturbed, there is no need to worry.

It's only when the hazardous materials and fibers are disturbed that they become a threat. So, if you think you may have asbestos, the best thing to do is call a professional to come and take a look.

They will be able to tell you for sure whether or not you have asbestos-containing material, and if so, they will be able to remove it safely.

No From Investors

We all know that Asbestos is a well-known carcinogen, and its presence can significantly lower the asking price of a home. Many investors are now avoiding properties with asbestos altogether.

This is because the removal of asbestos can be costly and time-consuming, and it can also create significant health risks.

As a result, homes with asbestos are generally considered to be less valuable than those without.

If you are planning to buy a new home or property, be sure to have it inspected for asbestos before making an offer.

High Removal Costs

As an experienced real estate agent will tell you, many factors determine the market value of a home. One of those factors is the cost of asbestos removal.

 If the cost of removing asbestos is high, it will negatively affect the home's market value. This is because buyers will take the cost of removal into account when negotiating the price of the house. As a result, homes with asbestos have a lower market value than homes without asbestos.

So, if you want to sell your home, be sure to factor in the cost of asbestos removal. It could make a big difference in the sale price.

Go For An Asbestos Abatement:

If you're like most people, the word "asbestos" probably conjures up images of old buildings and dusty attics. 

Unfortunately, asbestos exposure can result in various health problems, including lung cancer. If you suspect that your home may contain asbestos, don't panic!

There are abatement companies that specialize in removing this dangerous material.

A trained abatement professional can safely eliminate the health threat posed by asbestos, leaving your home safe and asbestos free.

Consider Asbestos Removal:

If you're considering asbestos removal, you should first find an excellent real estate agent. Asbestos removal can be expensive, and the last thing you want to do is overpay for your home.

The average cost of asbestos removal is around $1900, but it can vary depending on your home's size and the damage's extent.

Your real estate agent will be able to give you an estimate of the cost of asbestos removal based on the size of your home and the severity of the issue.

Once you have an idea of the cost, you can start shopping around for a reputable asbestos removal company.

Be sure to get multiple estimates before making a final decision, and always ask for references from previous clients.

With some research, you can find a reputable company that will safely and efficiently remove asbestos from your home safely and efficiently.

Does The Homeowner’s Insurance Or Any Insurance Company Will Cover The Cost of Asbestos Abatement?

It's every homeowner's nightmare: you mind your own business when suddenly, you find out that your home is infested with asbestos.

Of course, the first thing you want to do is call your insurance company to see if they'll cover the costs of removal.

But before you pick up the phone, there's something you should know: insurance companies are notoriously tight-fisted when it comes to hazardous materials.

In most cases, they'll only cover the cost of finding asbestos, not removing it.

So unless you're planning on living in a hazardous waste site, you might want to look into other options for dealing with this problem.

Conclusion:



So, does asbestos decrease a home’s value? In short, yes. However, by following the advice in this read, you can minimize or even prevent any decrease in your home's value.

Selling your home is already stressful enough—now, you can rest assured that including asbestos removal as part of your preparation won’t devalue your investment.