We've been monitoring the market for some time, waiting to find something that ticks a number of boxes for us (views, acreage, nice home that we'd live in ourselves, nice location etc).
I'm going to look at a few blocks but one is a house built on an escarpment (this one ticks a lot of the boxes).
We're likely to rent it out for a few years first and then move in it when we settle permanently back into the area again.
Although I've dealt with properties a fair bit I've never bought or even considered something on such a steep slope.
Aside from the obvious pit falls of checking it out for erosion and slip potential is there any other advice on what else to watch out for or things I should think about before considering it?
Insurance on crazy steep blocks can be higher
Thanks Dave, there is something I hadn't thought of. I'll check that out too.
Also keep in mind that say for instance your house were to burn down, or slip down in extreme wet weather, that it may be difficult to get approval to rebuild if, in the intervening years, council rezones the land as 'slip' etc. This has happened in the steeper areas of the Northern Beaches for example.
Thanks Propertunity. We had concerns about the slip possibility and thought we'd look at some form of professional report (Engineer/Geologist or whatever professional you get) before buying but hadn't thought of the rebuild rejection if it ever happened.
Just remember that it is very difficult to get insurance that will cover you for earth slippage.
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