There are many homes and condos on the market in the Fort Myers area that were originally constructed with Chinese drywall, but are now being marketed as “fully remediated.” Many buyers are intrigued, but struggling to move forward with these properties. Buyers looking at these homes are asking:
What should I be concerned about in buying a home that was originally constructed with Chinese drywall?
There are two main factors to evaluate when considering the purchase of a home that was originally constructed with Chinese drywall, but has been repaired:
- Is it safe?
- Will future value be impacted?
With proper testing, the safety of the home can be validated, so data is available to get comfortable with this issue.
It is harder to understand what the future economic impact will be on a home that previously had Chinese drywall. In 10 years, will buyers look for a discount on these homes the way they do for a home on a busy street or next to a business? Most experts believe that you make your money in real estate at the time of purchase, so the discount due to previously having Chinese drywall would need to be enough to outweigh any future discounts that would need to be given when it comes time to sell the home.