Asbestos Can Add to the Real Cost of Resale Property

A land deal in Western Ontario looks like an incredible bargain until you understand the details. A Windsor area man recently got what sounds like the deal of a lifetime – 240 acres of prime farmland in southwestern Ontario for a mere $150,000.

But of course, there’s a catch, and it comes in the form of what he’s going to have to do before he can get it ready for redevelopment.

The site in question is the former Southwest Regional Centre, also known as Cedar Springs, a provincially owned former institution for the intellectually disabled. Built about a half century ago, there are some 24 buildings that still occupy the closed facility.

The buildings cover about 650,000 square feet and like many such structures of the time, the new owner expects that they are riddled with asbestos in various forms. The real cost of owning and developing the land comes in terms of removing all that asbestos and asbestos containing material safely, a task the buyer is estimating to cost between $2 and $3 million.

Luckily, he’s a demolition specialist along with being a developer, so he’s well aware of the potential risks involved and will make sure it’s done the right way by professionals in the asbestos removal business.

Thinking of Buying a Resale Home?

The fact of the matter is that if a house was built before 1970,  you have to assume that it contains asbestos, and it may appear in a wide variety of places.

If you’re planning on buying an older home, an asbestos inspection should be an essential part of your pre-purchase checklist.

Before you buy, call in the experts from GreenStream Environmental Services for an asbestos inspection. If you already own an older home, we offer professional vermiculite and asbestos remediation services to help you contain and then rid yourself of this problem.

In the Toronto area contact GreenStreamEnvironmental.ca at (416) 818-9414.

Featured in Mike Holmes’ magazine, HGTV’s Income Properties, W Network’s Love It Or List It and chosen by Homestars.com as “Best Toronto Asbestos Removal Company” based on customer ratings and reviews, GreenStream Environmental Services are fully-certified, trusted and insured professionals in the removal and disposal of commercial, industrial, institutional and residential asbestos, vermiculite and mould (hazardous and non-hazardous). Providing emergency service 24/7/365 for all of Toronto and the GTA (North York, Mississauga, Markham, Brampton, Scarborough, Ajax, Oshawa, and beyond) GreenStream has over 40 combined years of experience serving clients such as the City of Toronto, the Toronto District School Board and many more. For a free estimate in Toronto, the GTA and Southern Ontario, call today at 416-818-9414.  You’ll be glad you did