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QLD Properties With Landslide Hazard & Steep Slope Overlays

Discussion in 'Where to Buy' started by Toon, 14th Jul, 2015.

  1. Toon

    Toon Well-Known Member

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    A post by @Michael_X in another thread brought up checking Landslide Hazard and Steep Slopes Area Overlays for properties in hilly aeras. After checking out some of the properties on my 'contenders list', I've found four of them come under these overlays - a couple high hazard and a couple medium. I had been looking at these properties in the positive light of having great views & hadn't even been thinking of the possibility that they could go sliding down a hill killing all onboard :eek:

    I would be interested in other peoples opinions on this. Does landslide hazard outweigh fantastic views or vice versa? Also, would this be likely to jack up insurance premiums to insane levels?
     
  2. ej89

    ej89 Well-Known Member

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    What are the chances that your chance of re-sale is affected my a slope to your land that gets you a nice view?
     
  3. Toon

    Toon Well-Known Member

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    To be honest, I don't know. All four properties that I like that have these overlays have been on the market for at least as long as I've been looking (about 6 weeks) without sale. I don't know if this is a major factor for none of them having sold or whether it's due to other reasons.
     
  4. Michael_X

    Michael_X Mortgage Broker Business Member

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    My other consideration with sloping blocks is drainage. Having issues with a property now, after the last Brisbane storm still dealing with insurance and getting the repairs sorted - going to be a $10,000+ repair bill - not fun.

    So be extra careful with sloping blocks. If you want a set and forget IP, can't go wrong with flat blocks.

    Cheers,
    Michael
     
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  5. Tranquilo

    Tranquilo Well-Known Member Premium Member

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    No Way. Sorry to hear that Michael:(
     
  6. bob shovel

    bob shovel Well-Known Member

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    It is something to seriously consider. It may be right at the moment but in 5,10,15 30 years what's going to happen....possibly nothing but you never know.
    The in laws have a house with a 6m high retaining wall on the side boundary. Built andBought 30 years ago, it's life is up. it is riddled with cracks and needs urgent attention. Looking at 100-200k to repair! slight liability, and it's gone passed the point of selling and doing a runner!
    Buyer beware!
     
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  7. Toon

    Toon Well-Known Member

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    That's one massive repair bill! Think you just helped me drastically slash my list of properties for consideration.