Before you buy a property in Australia, ask about flooding!
After the recent floods in Australia, those trying to sell homes in the low lying areas of Brisbane may find it difficult to sell or even rent out their homes.
While it is true that river and seaside properties are always at a premium and that prices may not be permanently affected, it does rather highlight the fact that when you buy property you need to check out all the facts before signing the final contract.
Before hooking up with an estate agent – one that you have made sure is reputable and a member of some sort of regulatory body – you need to jot down a list of questions you need to ask. One of them should deal with any problems the area has experienced; especially if the property is in close proximity to water.
Concerns such as:
- Are there plans to build a block of flats on that empty plot between you and the sea?
- Are there any plans to extend that small road and turn it into a multi-lane highway?
- Has the area ever experienced flooding?
A chat with the neighbours may not be out of place…Sadly, people are caught out by things like this on a daily basis and live to regret not having done their homework.
Your solicitor should protect you from problems such as these, but you would be wise to make absolutely sure of that by asking the right questions from the start.
To understand the full step-by-step process to buying a property in Australia, collect The Overseas Guides Company’s ‘Australia Property Buying Guide’
No related posts.