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Have you ever looked at buying a house that is about 70-100 years old and in the basement It had one of the pipes from the radiator system wrapped in asbestos insulation? In general, it seems to be in good condition; however, there is one spot (a few inches wide) that has been cut or is frayed.
Then you wonder:
Is this dangerous?
Am I crazy for considering this place?
If you read up on asbestos, it is generally more dangerous if it’s removed as it can airborne the fibers, which can then be inhaled and possibly cause cancer. The cost to safely remove asbestos can run into the thousands of dollars. So you need to definitely educate yourself on this topic. If you ask most HVAC workers, they will tell you that “asbestos scare stories” are overdone. I would personally get a professional to look at it and advise me of my options.
A key thing to consider is that a house with asbestos wrapped insulation likely has asbestos in the insulation, floor tile / linoleum, ceiling tiles, plaster, etc. It also has lead paint, mercury, radon, and a host of other scary things. So, if you are a person who worries a lot, you might want to look elsewhere. Furthermore, the sale value of a house with asbestos can be negatively impacted due to the negative stigma attached due to the health concerns.