We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The Marrams, Hemsby.
With the awful situation at Hemsby regarding the coastal erosion and the loss of homes (especially along the Marrams) there is a debate going on about EA's selling homes at risk of falling (literally) off a cliff.
EA's are defending selling them saying buyers know what they are buying and 30k is a cheap home for (possibly) a few years (obviously cash only as totally unmortagable and uninsurable).
The local council are saying they shouldn't be sold and others are saying EA's are not being transparent by advising potential buyers to get their own "environmental survey" and to do "due diligence ", not mentioning coastal erosion or very likely limited life of properties (reports are saying 10 to 15 meters of cliff are being lost per storm).
Also I believe if your property is in imminent danger of falling off the cliff, the council insist it's demolished first, and charge you for the privilege (that must be in the thousands of pounds for demolishion and removing the debis).
Would you buy as a cheap home ?
Comments
-
There are people who have bought there in the past 15-20 years, we were buying in that area in 1980 and it was falling in to the sea then and everyone knew so we decided to buy well inland. If someone wants to take that risk why shouldn't they, searches will throw up what is going on and if they are fool enough good luck to them.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
3 -
Surely nobody has bought them in recent decades unaware of the risks?
0 -
If the price was right, yes of course. But only If I could afford to gamble (many cannot gamble). Not any of the ones you describe but others, in general, yes I'd look at them.
Bought one property I'd not seen inside, just drove past it: Went to auction, guide price £18k (2 beds, views of sea lochs & munros..), stuck my hand up, one other bidder, bought at £18.5k. But then I knew ( KNEW ) I was taking a gamble. And could afford to.
It had a cooker in it, looked at it, grill pan full of fat with fungus growing on it. One fossilised chipolata sausage (binned).
Owned for over 20 years. Lived in it some of the time, rented out mostly. Sold about 20 years later. Quite content with outcomes.
Apologies for being a greedy capitalist landlord.
1 -
10k would be more realistic.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards