A Chartered Surveyor has found that a two-bedroom Swindon home was drastically overvalued. This was due, in some part, to the presence of asbestos throughout the home.
Average home – above average price
The property was on the market for significantly more than the market average of £138, 271. However, the Surveyor deemed there to be nothing special about the home valuing it at £139, 250.
To the unassuming or uneducated eye, the 1950s property was clean, bright and free of any major flaws. The Home Buyers Survey in Swindon, however, revealed otherwise.
Repair work for Swindon property complicated by asbestos
Among the many repairs that the Surveyor noted in his report were:
- The garage was entirely dilapidated and would most likely need demolition and reconstruction. The Surveyor warned that it would need to be done by specialists due to the likely presence of asbestos. This would significantly add to the cost.
- Cracks in the ceilings, which would normally be a simple patch job, became problematic because the ceilings were built with Artex. This surface coating was popular in the 1950s. Unfortunately, Artex made before the 1980s contains white asbestos.
- The kitchen fittings were dated and in need of updating in the near future. Be buyer should factor this significant cost into the price of the home.
- “The water storage tank is of asbestos cement, ” said the Home Buyers Survey in Swindon, “and this is generally regarded as at the end of its life. We would recommend that you arrange for its replacement with a modern plastic water tank and we also draw your attention to our comments regarding the dangers and problems of the disposal of asbestos. ”
The list of defects in this property dragged on. While none of them were major structural works, the presence of asbestos in many areas made remedial work hazardous and expensive.