Asbestos in homes does not automatically disqualify a purchase; in fact, it can lead to price negotiations. The fibrous mineral is found mainly in older homes, especially those built before 2000. While it becomes dangerous if disturbed, leaving it undisturbed can be safe. UK legislation banned asbestos in 1999, but the risk of exposure remains significant. Homebuyers should be aware of their potential liabilities and the implications for renovations, as increasing retrofitting efforts could disturb existing asbestos.
"The presence of asbestos offers the opportunity to negotiate on price," says Paula Higgins, founder and chief executive of HomeOwners Alliance. "This is especially the case if you are planning to renovate..."
Asbestos is a known carcinogen, with more than 5,000 deaths a year in the UK linked to exposure, highlighting the risks involved when buying older homes.
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