house with subsidence

theGrinch

would you ever buy a house with subsidence and if so what kind of discount would make it worth your while?

Debt_Free_Chick

Yes - I would if the subsidence had been satisfactorily addressed. I would get a structural engineers report. Often, once the repairs have been done, the house can be in a better position than others close by that have had no work.

I would expect the condition of the house to be reflected in the asking price, so would not necessarily expect a discount. As is often the case "it depends".

Do you know the cause of subsidence?

margaret_3

theGrinch wrote:

would you ever buy a house with subsidence and if so what kind of discount would make it worth your while?

We did! We reckoned that since it had 25 years of a 30 year guarantee to run that it was in a good state. However, when we moved in, a neighbour told us that the sale had fallen through quite a few times when people heard about the subsidence.
When we came to sell, we had the same problem, though it was a gorgeous bungalow.
We wouldn't buy one like that again.
Margarwet

theGrinch

I am not overly concerned by insurance as I can use the same insurers but I am concerned about resale and "blight".

I totally agree that a property that has been underpinned and carries a guarantee should be seen as more appealing.

This is a private sale and I am trying to get a feel for a valuation.

deemy2004

Roughly 80% of those viewing would reject the property at the first mention of subsidence, no matter what the discount offered is.

So there IS a price to pay esepcially if your trying to sell it when the market is not racing ahead where the lemmings are plenty to dive in on any type of property.