Buyer turn-offs that cost owners hundreds of thousands of dollars

Experts say that living in proximity to a waste management plant, flight path or transmission towers could wipe as much as 40 per cent off a home’s value. Victorian home buyers’ biggest turn-offs include waste management plants, airports, level crossings, transmission towers and cemeteries, according to a new report. Experts have warned purchasing near one of these so-called deterrents could wipe up to 40 per cent off a property’s value. The August Westpac Home Ownership Report, for which more than 2000 Australians were surveyed, found housing affordability pressures mean that 71 per cent of first-home buyers polled in Victoria would be willing to purchase in a suburb they had not originally considered. RELATED: Why waiting for RBA rate cuts could trap property buyers AI-powered property scams target Australian homebuyers nationwide Victoria’s top suburbs for investors planning to build And 39 per cent of those in the state wanting to purchase their first home said they would consider rent-vesting to enter the market. While nearly one in five Victorians said they did not have any property deal-breakers, 40 per cent stated they’d be put off buying a home near a waste management plan...