Should i just invest in brick house ips and not fibro

I remember reading in some investing book , to avoid fibro houses and just buy brick ?

 

As a general rule for clients and myself I avoid fibro unless the area commonly has fibro homes eg 2770 where I own fibro.

In an area where its uncommon (eg most of Adelaide) valuers pan it as theres little to use as comparables and its generally less desirable an asset.

 

I read something about not investing in apartments. Should I avoid main roads?

Invest in what meets your risk profile.

It would probably cost $10-15k to remove fibro cladding and same again to clad with a modern treatment, improve themal efficiency & street appeal. If this is less than a brick house would you do it?

 

Yes, avoid fibro houses.
It leaves more for me

Fibro is generally used as an exterior cladding. I just get someone to clad over it. Or if its really bad, i pay to get it removed.

But all that is factored into the cost.

 

All depends what profit is in it and if its more than brick I know what I would choose

 

If it's asbestos you're worried about don't think that brick houses are free of the stuff. Look at the soffits, electrical boards, insulation etc. Plenty of asbestos can be found there.

Look at the land the house is sitting on and the location of the property. That's what I go for.

 

I would think fibre is easier to dress up on the exterior than an ugly brick house. We just bought an ugly light brick house, and our options are limited to nothing or render to dress up the facade. In my opinion render is out and cheapens some houses more than anything. I would think that fibro may be lighter on the stumps too-less likely to need restumping possibly?

 

Agree 100%. You can change the house/s but never the location.

 

Yeah i know, its just that fibre is more pron to termites

 

Fibro is also prone to billard balls being thrown through into the lounge room

 

No it's not!

 

I quite like timber houses myself. Often much easier to work with than brick veneer houses on a concrete slab.

 

Only buy homes like this... Hard to know their value though.

Brick, fibro, weatherboard... they are all inferior materials if you ask me.

 

I've always had this little voice in the back of my mind going "one day the government will legislate that you have to remove all the fibro".

 

Extremely unlikely imo...... too costly.

 

Hmmmm It all comes down to cost, if the property is a realistic price then the returns will be there.
Asbestos is the real problem

 

Personally like fibro homes but hubby doesn't.

Location and land size is king in my books

 

Mishandling & misinformation are the problem - people who take short cuts because it will same THEM some $ but likely to cause others greater expense in having to clean the waste properly and remediate the surroundings and medical check ups as required.

 

Maybe read a few more Books,most of what we control has fibro inside somewhere from the packing behind the fibro walls too the roof..
And the simple fact is,it's not that important what's sitting above the ground,only the land sqm's ,that,s where the value is pure and simple ..

 

But that sounds like effort as a part of due diligence. OP ain't got no time for that!