Lessons to Learn From A Case of Unstable Land and Sinking Homes
27 Minuten
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vor 1 Jahr
When you’re buying a home, the last thing you expect is for the
ground beneath it to literally sink away. In this episode, we
dive deep into a real-life disaster involving properties affected
by sinking land, where homes began to crack and crumble due to
unstable ground. How could this happen, and what should buyers
learn from this nightmare scenario?
We explore the consequences of purchasing off the plan,
especially in areas with new subdivisions, where the history of
the land is often obscured. The land might have been leveled from
farmland, hills, or filled-in dams—but without proper
transparency, the buyer is left in the dark. Could something
similar happen to you?
Our discussion also covers the challenges homeowners faced after
the damage was discovered, including compensation complexities,
demolition, and the bitter reality of living next to a demolition
site. We highlight the critical importance of due diligence,
particularly when buying in new estates, and how to protect
yourself from similar risks.
Tune in to understand the key lessons from this case of unstable
land and sinking homes, and learn how to avoid falling into a
similar trap when buying property. Your dream home shouldn’t
become your worst nightmare.
Episode Highlights:
00:00 - Introduction
02:14 - Meighan’s special house of the week
04:41 - Overview of the problem with over a thousand homes
affected by unstable land
08:33 - The risks associated with purchasing property in newly
subdivided areas or off the plan
12:17 - The dangers of not investigating property risks before
purchase
19:16 - Emotional and financial toll on the residents affected by
the sinking homes
22:36 - Consequences of living next to a demolition site and how
it affects property value
24:00 - Protect yourself from similar risks in the future
Resources mentioned in this episode:
Owners fear more damage to homes over bulldozing fix at
'sinking' Western Sydney suburb - ABC News https://ab.co/3WUl9OH
Mystery over Sydney's sinking houses deepens as desperate
homeowners seek answers in Glenmore Park, Box Hill and Jordan
Springs https://bit.ly/3MbQoQc
Your First Home Buyer Guide Podcast Episode 186 Buying New or
Off-Plan? Your Guide to Managing the Risks
https://homebuyeracademy.com.au/podcasts/186
Resources:
FREE MINI COURSE: How to price property like a
professional https://www.homebuyeracademy.com.au/freecourse
Meet our recommended mortgage brokers at Home Buyer Academy
https://homebuyeracademy.com.au/brokers
Visit our website https://www.homebuyeracademy.com.au/
Join our Facebook Group to get access to free monthly live
Q&A sessions
https://www.facebook.com/groups/yourfirsthomebuyerguideaustralia
Learn how to buy property without making a mistake with our
ultimate 10-step online course for first time home buyers
https://homebuyeracademy.com.au/YFHBG
If you have any questions or would like to be featured on our
show, contact us at: Your First Home Buyer Guide Podcast
support@homebuyeracademy.com.au
Looking for a Sydney Buyers Agent?
https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Brisbane Buyers Agent?
https://www.propertypursuit.com.au/
Work with Meighan: https://www.linkedin.com/in/meighanwells/
If you enjoyed today’s podcast, don’t forget to subscribe, rate,
and share the show! There’s more to come, so we hope to have you
along with us on this journey!
Subscribe on YouTube:
https://www.youtube.com/@YourFirstHomeBuyerGuidePodcast
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