NSW Drain Water Easement

Discussion in 'Property Analysis' started by Ciaran M, 3rd Aug, 2021.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Ciaran M

    Ciaran M New Member

    Joined:
    2nd Aug, 2021
    Posts:
    1
    Location:
    Sydney
    Hi Respected Members

    My wife and I just inspect a house in Schofield that both of us really like. However, after going through the contract, we find that there are around 5 easements in the lot.

    1. EASEMENT TO DRAIN WATER 1.5 WIDE
    2. EASEMENT TO DRAIN WATER 1 WIDE
    3. EASEMENT TO DRAIN WATER 6 WIDE
    4. EASEMENT FOR PADMOUNT SUBSTATION 2.75 WIDE
    5. EASEMENT TO DRAIN WATER (WHOLE LOT)

    As one of my friends once told me to be cautious about easement, we are worried if we should go ahead for the auction. Would these drainage affect pricing and future resale values?
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,103
    Location:
    Sydney or NSW or Australia
    This will be a very cheap block as it will not be able to be built upon as there will be pipes in several locations plus it will have a 2.4 x 1.5 x 1.8m electricity kiosk/transformer infront cutting down where you can put your driveway or may explode if it fails or overheats.

    Easements are fine if you knew where they are located and how they affect the block but no. 5 affects the entire block. This should not be a housing block if it would be a a drainage point. Is it also floodprone?
     
  3. ParraEels

    ParraEels Well-Known Member

    Joined:
    14th Jul, 2017
    Posts:
    1,107
    Location:
    Australia
    I would not buy it as it will increase your building cost. You have to custom design to avoid the easement's zone of influence and the electrical substation outside the home will look ugly and risky to the future buyer.

    HOWEVER, someone buy this at a premium price in this hot market not knowing what they are buying.

    Fear of Missing Out.
     
  4. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,386
    Location:
    Sydney
    5 easements? Won’t touch it. Reasons already explained above.
     

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia