Buying a home is the great Australian dream, but a simple trick involving a humble 10 cent coin could be the difference between a sound investment and a financial nightmare.
Property expert Phil Spencer, known for his work on Location, Location, Location, is urging prospective homeowners to arm themselves with this easy test to spot a hidden danger that could cost them tens of thousands of Aussie dollars: subsidence.
Subsidence is a serious issue where the ground beneath a property sinks, pulling the building’s foundations down with it.
The result? Costly structural damage that can quickly drain your savings.
Market estimates suggest that fixing major wall cracks from subsidence vary from a few hundred dollars for minor patches to $35,000 for serious foundation underpinning, depending on severity, method, soil, and house size, with larger, complex jobs exceeding $40,000.
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Thinking of buying a home? Take a 10 cent coin with you.
Spencer revealed to Metro that the key to early detection lies in inspecting any cracks in the walls.
“If the crack is less than 3mm wide – which means you can’t fit a 10 pence piece into it – it may not be serious,” he said
However, if that familiar Australian 10 cent coin slips easily into a crack, it’s a major red flag and warrants immediate attention.
Beyond the simple coin test, Mr Spencer highlights other critical indicators of subsidence.
Buyers should be vigilant for diagonal cracks, which are often a strong sign of structural stress, or cracks that appear noticeably wider at the top than at the bottom.
It’s also vital to extend this scrutiny to the exterior of the home, as cracks visible from the outside are equally alarming.
Cracked walls could point to bigger structural problems.
“Cracks caused by subsidence tend to appear at ‘weak points’ in the home – typically around windows and doorframes, or where an extension has been added. If you notice cracks in these areas, keep a close eye on them and take action if they get bigger,” Mr Spencer told Metro. “Subsidence can be caused by lots of things and isn’t a problem limited to older properties. If you think your home might be affected, don’t panic, but act fast. The sooner it’s investigated and fixed, the less damage will be done to the property.”
If you’re not sure if there is subsidence, you can find a surveyor and arrange an inspection of the property.
Mr Spencer adds that you shouldn’t “jump to conclusions” but the 10p test is a “useful rule of thumb”.
English (US) · 