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How does a retarding basin on the property affect price?

Discussion in 'The Buying & Selling Process' started by telejazzer, 5th Aug, 2016.

  1. telejazzer

    telejazzer New Member

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    I was having a conversation with a land owner where they told me how much they want for the property. Yes, what they were asking for is market price but there's a retarding basin on the property. How much does this affect property price?
     
  2. Foxdan

    Foxdan Well-Known Member

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    Less than an intellectual basin.
     
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  3. datto

    datto Well-Known Member

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    One advantage, I suppose, is that you might not need a swimming pool.
     
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  4. Colin Rice

    Colin Rice Mortgage Broker Australia Wide Business Member

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    I would say only slightly but hard to say with property as emotions are the main driver for most.
     
  5. Big Will

    Big Will Well-Known Member

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    Depends on how much the market thinks it is an issue.

    There is no set percentages or fixed amount or $/m2 reduction.

    Same as how much does an easement impact the price of the land value. What if the easement is at the back of the block for stormwater? The only time these become an issue would be when you look at developments.

    Do what you feel is right and get it for a price you are comfortable with.
     
  6. RiMo

    RiMo Well-Known Member

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    I think you meant "retention" basin.

    How it affects the price depends on a lot of things: How big is the basin in relation to the land? Where is it located? What is it used for mainly? i.e. stormwater runoffs or flood water management? What type is it? There is two main types: retention basin (keeps water at certain level) and detention basin (drains the water completely). Then there are potential issues with safety, aesthetics, and possibly insurance as well if there is a dwelling built on the land.
     
  7. Joynz

    Joynz Well-Known Member

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    In Melbourne they are called water retarding basins - used to retard water to prevent flooding. There's one down the road from me - but on Melbourne Water land not private land.
     
  8. Stoffo

    Stoffo Well-Known Member

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    If the land area was big enough/ not used by the land holder then not much issue.
    But it would likely limit the use of that space that you are paying rates for :mad:
    I think it could be devastating, if/when they bring in legislation that it requires a pool fence:oops:
     
  9. Biz

    Biz Well-Known Member

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    The retard basin. Sounds like an idea for a new sub forum.
     
  10. MTR

    MTR Well-Known Member Premium Member

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    never heard of this? is this like one of those sink holes:confused:
     
  11. bob shovel

    bob shovel Well-Known Member

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    I'd say significantly. Who ever lives there will cop flood water coming in their yard every x years. F that. I'd Be looking to council to build the land up or divert it if possible.... v unlikely though
     
  12. BarneyRubble

    BarneyRubble Well-Known Member

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    Only read the thread to find out what a '"retarding basin" basin was. Actually I googled it too.

    Would definitely impact the price to my mind. Indeed I doubt I would buy.
     
  13. Pixie

    Pixie Active Member

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    Depends.

    My MIL lives in a townhouse complex and has an on-site retarding/retention basin (same idea of slowly releasing rain runoff back into pipe system during a large storm). But it can be also used as a playground for kids. That playground, I believe, added value to the property
     
  14. Scott No Mates

    Scott No Mates Well-Known Member

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    It all comes down to design

    Functional:

    [​IMG]

    Vs

    Esthetics:
    [​IMG]


    Or this.

    [​IMG]