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Lessons to Learn From A Case of Unstable Land and Sinking Homes
- 2024/08/20
- 再生時間： 27 分
- ポッドキャスト
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あらすじ・解説
When you’re buying a home, the last thing you expect is for the ground beneath it to literally sink away. In this episode, we dive deep into a real-life disaster involving properties affected by sinking land, where homes began to crack and crumble due to unstable ground. How could this happen, and what should buyers learn from this nightmare scenario? We explore the consequences of purchasing off the plan, especially in areas with new subdivisions, where the history of the land is often obscured. The land might have been leveled from farmland, hills, or filled-in dams—but without proper transparency, the buyer is left in the dark. Could something similar happen to you? Our discussion also covers the challenges homeowners faced after the damage was discovered, including compensation complexities, demolition, and the bitter reality of living next to a demolition site. We highlight the critical importance of due diligence, particularly when buying in new estates, and how to protect yourself from similar risks. Tune in to understand the key lessons from this case of unstable land and sinking homes, and learn how to avoid falling into a similar trap when buying property. Your dream home shouldn’t become your worst nightmare. Episode Highlights: 00:00 - Introduction 02:14 - Meighan’s special house of the week 04:41 - Overview of the problem with over a thousand homes affected by unstable land 08:33 - The risks associated with purchasing property in newly subdivided areas or off the plan 12:17 - The dangers of not investigating property risks before purchase 19:16 - Emotional and financial toll on the residents affected by the sinking homes 22:36 - Consequences of living next to a demolition site and how it affects property value 24:00 - Protect yourself from similar risks in the future Resources mentioned in this episode: Owners fear more damage to homes over bulldozing fix at 'sinking' Western Sydney suburb - ABC News https://ab.co/3WUl9OHMystery over Sydney's sinking houses deepens as desperate homeowners seek answers in Glenmore Park, Box Hill and Jordan Springs https://bit.ly/3MbQoQcYour First Home Buyer Guide Podcast Episode 186 Buying New or Off-Plan? Your Guide to Managing the Risks https://homebuyeracademy.com.au/podcasts/186 Resources: FREE MINI COURSE: How to price property like a professional https://www.homebuyeracademy.com.au/freecourseMeet our recommended mortgage brokers at Home Buyer Academy https://homebuyeracademy.com.au/brokersVisit our website https://www.homebuyeracademy.com.au/Join our Facebook Group to get access to free monthly live Q&A sessionshttps://www.facebook.com/groups/yourfirsthomebuyerguideaustraliaLearn how to buy property without making a mistake with our ultimate 10-step online course for first time home buyers https://homebuyeracademy.com.au/YFHBGIf you have any questions or would like to be featured on our show, contact us at: Your First Home Buyer Guide Podcast support@homebuyeracademy.com.auLooking for a Sydney Buyers Agent? https://www.gooddeeds.com.auWork with Veronica: https://www.veronicamorgan.com.auLooking for a Brisbane Buyers Agent? https://www.propertypursuit.com.au/Work with Meighan: https://www.linkedin.com/in/meighanwells/ If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! Subscribe on YouTube: https://www.youtube.com/@YourFirstHomeBuyerGuidePodcastSubscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421fSee omnystudio.com/listener for privacy information.