What’s the catch?

Hi all,

I’ve come across this property and I’m very surprised about its price given it is a massive block of land (1800 m2). Properties in the same area with much lower land (600 m3) are selling for the same price.

Am I missing anything?

https://www.realestate.com.au/property-house-qld-ferny+hills-135317610

Thanks

 

I'd say it floods. Have you checked the flood map yet?

 

It backs onto the creek, Reserve and Samford Rd.

 

What’s the problem to have the reserve in the back of the property?

 

Snakes, wildlife, fence jumpers, vandals, villains, flooding, council doesn't pay fencing costs

 

I looked at that place too! At face value, a bargain.

It's the flooding and water overflow. It was literally the worst impacted on the street but the land size and proximity to amenities was indeed appealing.

 

Flooding/overland flow impacts are the big problem with this one. I had a look at the report for this property, because it was of interest to me at that size and position and price - but that overland flow is particularly bad. There is really very little of the block unaffected.

Backing onto a reserve isn't something of itself that would be an issue for me: a little more potential for wildlife, but then the extra privacy and leafy views tend to offset that. But if the reserve is a flood zone potentially affecting the property, then this will be an issue because it reduces usability of the land overall. Not always a deal breaker on a large lot where the impact is minimal and house could be built well above any issues.

 

Would keep life interesting

 

Very high maintenance, it has overland flow and is on a feeder road off a main road.