Try Un-real Estate

A person may obtain property, in the place they wish, or have a house built with the effort of their work, or worse, ‘find’ their ‘dream home’. I say worse because, that in itself, while supposedly should be a time of great joy, can be a truly terrifying experience. Where, once someone finds that home, which rings true with their desires, and makes inquiries as to purchasing, then it seems, whoever owns the house, suddenly becomes slightly unbalanced. It matters not how ‘normal’ a life they may lead, they suddenly appear to have transformed in a wealth-seeking maniac. They believe they are empowered to seek complete financial lifetime gain, as if the house becomes their complete and only future (apparently). As if their house was the only house left in the world. Regardless of whatever sum they themselves may have paid for the house.

That world I referred to of ‘Unreal Estate’, (see blog Sunday 20^th January 2013) then becomes all too familiar to the people buying. Their world suddenly goes from a normal everyday, saving towards their future or, at least from intense discussions with their bank, concerning borrowing and repayments (or selling off their children, and, today it seems, their children’s children into some shady, interest affected generational loan deal), to some incredibly, extraordinary, unbelievable, scenario where the very concept of power and greed is in force, and usually overwhelming the selling individuals and devastating the buying ones. The value of coin suddenly becomes elastic. The seller over values and over charges for any, and each small detail or alteration ever made to the house. A coat of paint becomes valued one hundred fold and the price of the purchase continues to climb.

This, once the buyers have scrimped and saved for their dream home, or at least, once they have created as much credit as they are able. Then, by agreements and processes, valuers, inspections, legal arguments, government fees, duties and other assessments (each of which demand a fee to one organization, government body, company or another agency), they believe they purchase their dream house. I suppose I cynically add ‘believe’, because they are then confronted with the reality of the actual home they have purchased (and in some cases sold their souls into debt for). Sometimes, it is the obvious faults they discover. The ‘paint overs’ and ‘patch ups’ that reveal themselves, once all the signed deals and cooling off periods have passed. Sometimes it can be the more significant. I have heard horror stories from persons buying a house to have to replace entire drains within a year, repair entire supporting walls or worse (in Australia) destroy termites.

I still shudder at the following thought. when buying a house, you become subject to one of the unfortunate side effects of owning property, nature, or rather, the forces of nature. They can be pretty extreme. In Australia, that can be more of a challenge than elsewhere. Australia is described as a land of contrasts. Which is clearly seen in the forces of nature which sweep across the island continent. Cyclones. Fires. Floods, and even earthquakes. If you’re lucky, not on the same day.

(continued tomorrow)