Buying property

Discussion in 'What to buy' started by Opi, 25th Feb, 2017.

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  1. Opi

    Opi Member

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    Hi everyone first post please b easy
    What are your thoughts on buying property where power lines are right on top
    Big block price wise less than the actual suburb median price
    Will that makes good investment for future or better stay away
    Thanks everybody
     
    Opi, 25th Feb, 2017
    #1
  2. WestOz

    WestOz Well-Known Member

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    WestOz, 25th Feb, 2017
    #2
    legallyblonde likes this.
  3. CosmicTrevor

    CosmicTrevor Well-Known Member

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    Opi, would you live in a property that had power lines in close proximity?
     
    CosmicTrevor, 25th Feb, 2017
    #3
  4. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Hi @Opi

    I presume you mean high-tension powerlines.

    Other than the fact that they are ugly (which can mean the property will be less appealing to buyers and renters alike), some folks feel there is a relationship between high-tension power lines and health issues.

    This aside, lenders don't like lending against property that is too close to them. Some may not finance at all, others may max out the finance on offer for such a property at 80%. While this might not be a problem for you if you are an 80% LVR buyer yourself, if you ever need to sell the property, you will have a limited pool of potential buyers, since anyone needing above 80% lend may have issues securing finance to purchase the property from you.
     
    Last edited: 25th Feb, 2017
    JacM, 25th Feb, 2017
    #4
    Opi likes this.
  5. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    I wouldn't touch. Too many issues, both real and perceived.
     
    Jess Peletier, 25th Feb, 2017
    #5
    Propertunity, Agent30yrs., ellejay and 2 others like this.
  6. Agent30yrs.

    Agent30yrs. Well-Known Member

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    In my experience, very difficult resale
     
    Agent30yrs., 27th Feb, 2017
    #6
  7. Propertunity

    Propertunity Well-Known Member

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    upload_2017-2-27_13-3-18.jpeg
     
    Propertunity, 27th Feb, 2017
    #7
  8. spludgey

    spludgey Well-Known Member

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    I live under power lines, I did the research before buying and it confirmed that there's not a single credible health reason not to buy.
    I also measured the EMF and it was lower than inside a shopping centre nearby.
    Plus, I always find it funny that people have these huge objections to high tension power lines, but couldn't care less about buried ones nor an alarm clock 30cm from their head which would create a much denser EMF.

    Inverse square rule, people.
     
    spludgey, 27th Feb, 2017
    #8