How does a ******ing basin on the property affect price?

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 ******ing basin on the property. How much does this affect property price?

 

Less than an intellectual basin.

 

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

 

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

 

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.

 

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.

 

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

 

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
I think it could be devastating, if/when they bring in legislation that it requires a pool fence

 

The ****** basin. Sounds like an idea for a new sub forum.

 

never heard of this? is this like one of those sink holes

 

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

 

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

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

 

Depends.

My MIL lives in a townhouse complex and has an on-site ******ing/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

 

It all comes down to design

Functional:



Vs

Esthetics:



Or this.