Would you buy a property with (fixed) subsidence
Discussion
My last two houses had both suffered from subsidence. Got a full structural engineers report and was happy to proceed with both.
The sale of the last place went without a hitch, we were open with the buyer from the start about the houses history.
As most houses in the area have claimed (local coal mining) the local solicitors and estate agents expect it and put our buyers mind at ease (as they did us).
The sale of the last place went without a hitch, we were open with the buyer from the start about the houses history.
As most houses in the area have claimed (local coal mining) the local solicitors and estate agents expect it and put our buyers mind at ease (as they did us).
Check the cost of insurance first, insurers take a binary view - and take no notice of structural reports. If there is history of a subsidence payout then it will cost extra.
It might only be a few quid extra a year, but over 20 years thats might be a lot of money to you.
Also bear in mind a lot of people will walk away when you come to sell the house.
Worth asking up front about issues like this if the area is prone - you don't want to get to the expensive searches stage and find this out.
It might only be a few quid extra a year, but over 20 years thats might be a lot of money to you.
Also bear in mind a lot of people will walk away when you come to sell the house.
Worth asking up front about issues like this if the area is prone - you don't want to get to the expensive searches stage and find this out.
The Moose said:
As my other thread ( here ) isn't generating any chat,
not least of all because you didn't contribute after the opening post.The Moose said:
Would you buy a property with (fixed) subsidence issues?
In the real world how do you know whether the issue has been fixed? It's the same reason cat D cars sell at a discount - there's uncertainty about the quality of the repair. That's why there's the insurance issue - properties that have had remedial work done are more likely to claim than those that have not had remedial work done.To answer your latest question, as many above have said the answer is maybe. If it was one of a few in a road and none of the others had suffered a defect and there was no discount then no but if it were a unique property, perhaps in a school catchment area/other desirable area, suitably priced and without real competition then probably yes.
The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".
In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
fatboy b said:
The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".
In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
What effect did it have on your buildings insurance premiums and are you tied to the insurance company that paid out now ?In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
fatboy b said:
The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".
In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
We has similar with a poorly built extention - the builder just hadn't put any footings under the internal walls. All fixed by digging under and placing proper footings in, but it now means the word 'subsidence' is mentioned, when really it was just a fix of poor building! The house insurance was a little higher, but not excessive.In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
blade7 said:
fatboy b said:
The problem with "subsidence" is that's it covers many causes. The property can be sound but a silly screw up by the builder can render the whole property "subsided".
In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
What effect did it have on your buildings insurance premiums and are you tied to the insurance company that paid out now ?In our case, the single pillar between the two garage doors started sinking. After a subsidence claim, the whole property was inpected and found ok, other than the builders waste found directly beneath the pillar foundations that had gradually corroded/collapsed (wheelbarrow) causing the pillar to sink. Once corrected, all ok, but now the whole property has a history of subsidence.
fatboy b said:
The current insurance co. Upped it by about £1.50, so pretty good really. Other companies are about double the annual premium.
Sounds very fair though you are sort of tied to them now. I asked an EA how much history of subsidence chipped the value of a property and they thought up to 20%. Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff