What are your due diligence checks?

It depends if it all turned to **** within a few days- or you lived happily ever after

 

@Chris White could you or anyone else explain what the "Strategic airport - Bird and bat strike area" overlay means?

 

Prob exactly what it sounds like.....an area where planes could hit these....

 

And how would that overlay impact your decision to buy a property?

 

In addition to things I have seen mentioned:
- Flood risk (ruled out whole areas that I might otherwise have looked at)
- Storm risk
- Storm surge and sea level rise (ruled out one waterfront property that I liked otherwise)
- Other natural hazards (I recently passed up a property after due diligence revealed a risk of rock falls affecting the property)
- Environmental contaminants (e.g. contaminated soil)
- Legal disputes with neighbours
- Outstanding rates, strata fees, etc.
- Disputes with neighbours
- If it's a strata property, check that the body corporate is well managed and its finances in good order
- If it's a strata property, waste management (some that I looked at did not have any recycling facilities and/or not enough rubbish bins for the number of flats)
- Planned works nearby (roads, ports, major infrastructure)
- Noise in the area
- Insurance rates

 

Meteorites, don't forget about them.

And flooding can happen anywhere, even 1000m above sea level, so there goes 90 something % of places, add the above and space junk overlay, and dug into ayers rock may be only option? JK

 

Is there anyone in the forum entered these in excel. If yes, can you pls upload here or into Google Sheets for forums members benefit.

Thanks

 

I prob would never look, plane noise may be a concern, however, if I bought IPs effected by noise in Syd 10 years ago, and sold them now, would that have proven a poor plan ?

Seriously, I think it is far more complex, or, simple, than focussing on some of these things.

For instance, 10 years back, would a place in a wa mining town that ticked every noise, flood etc box been a better result than a syd one that failed some of these benchmarks ? Today 10 years on I mean.

I am not saying just buy Sydney, cause I have lost money in Syd before, we work on a pretty simple sort of thing, gut feeling may be a good description, tied in with experience.

I have ignored many of the things spoken about on this forum, I form my own views.

 

What things ? NASA and some other agencies have the space junk and meteor data, overlay is all of Earth

 

Sure, flooding can happen 1000m above sea level if it’s on a flood plain. If it isn’t on a flood plain, it probably won’t. Some places are almost guaranteed to be flooded every few years, but you won’t know about that unless you check.

 

But there are exceptions with locations, we face south but have large south 90 degrees windows for extra light, with city, water and pool views, see fireworks whereas on the north they may have that extra light only.

 

No flood plain required for flooding.

I have seen buildings with water running through them in Syd, no flood plain or flood area.

Point is, you can't cover every possibility.

 

Parts of Sydney are indeed on a flood plain. You can’t cover every possibility, but some, such as floodplain inundation, are easily anticipated and should be part of your due diligence.
Sydney flood map - Flood map sydney (Australia)

 

Thanks, will try and remember that.