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  • A monolithic question...

    Hi! Infrequent poster but long time reader with a qustion for you helpful people again.

    We are looking at purchasing a property - yep, no cavity, monolithic, 8-10 yrs old etc... It would be to live in, not investment. Have had a very good, experienced, weather tightness expert guy do the inspection who has found a few small easy to fix things that we can negotiate on. The place is otherwise in excellent repair.

    Of course our lawyer is saying STAY AWAY!!! EVIL EVIL! (and maybe the bank will say similar, but in case they don't tell us no, we need help making a decision!)

    We do really like the place, for many reasons (location, size, suitability, easy care). But we don't have to buy it (even though there is NOTHING else out there, the inlaws won't kick us out too soon - yep, sold the last property extra fast so currently homeless). But should we listen to the lawyer, or to the building inspector (who isn't saying monolitic cladding is the root of all evil).

    (If we did purchase the property then we would look at getting the MDU probe system installed for ongoing preventative maintenance).

    Arrghhh, please help, what would you do? Should we walk away (knowing there is nothign currently wrong with the property and potentially nothing will go wrong in the future), or do we take it on (knowing that something might go wrong, at the very least that stigma ain't going in a hurry, could resale still be effected in 5-10 years time?)

    Thanks for any help or advice anyone can give!

  • #2
    My 2 cents worth, is that unless you can get it at enough of a discount to allow for any problems that might happen in the future, then walk away from the deal keep looking.

    Cheers
    Spaceman

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    • #3
      It might be alright for you, but resale would be a nightmare.

      You say there is "NOTHING" else out there. So ask yourself why this is the only place left for sale.

      Comment


      • #4
        I know what you mean spurner, and there are a few dodgy looking monos out there that have been listed for months, this one has just been listed though, (and when i say nothing, I mean that fits our needs/wants so well). But yeah, resale is probably our biggest concern.

        Comment


        • #5
          For resale purposes monolithic is tainted for life. Even if your actual building is perfect, there will still be a stigma.

          I'd personally buy a section and build new before I took on a monolithic clad house.

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          • #6
            Shame but true, the public perception of these will take years to change. Many people say there are two types of these. Those that have leaked and those that will.
            www.ilender.co.nz
            Financial Paramedics

            Comment


            • #7
              Miss, is the inspector you used listed as a certified weathertightness surveyor on this list? The advice he has given you surprises me. I have had a number of weathertightness reports done and the advice has always been that if it does not have a cavity system then it is a matter of when it starts having issues, not if.

              Did your inspector do any destructive testing?

              You need to be very, very careful. As Robin has said, monolithic cladding taints a property even if it doesn't have any issues.Your situation is even worse because it does have an issue (no cavity), even if the effect of that issue has not yet become apparent.

              Comment


              • #8
                The issue of resale has been mentioned, and I don't think it matters if you live in the house for 1 or 30 years - when you come to sell, there will be a stigma.

                However, I believe that the issue with weather tightness is twofold -

                1. If properly installed (which you can't easily tell) and maintained (which is your responsibility), I think mono is no more likely to leak than other cladding systems, but this is made worse by building with small or no eaves and insufficient flashing around windows.

                2. Regardless of the cladding, the problem with leaks is actually the effect it has on the timbers beneath - for the period of concern, untreated timber was permitted which means that, again, regardless of the cladding, if there is an undetected leak you are in trouble!

                Unless the property has lots of other attributes that attract you to it, I would continue your search!

                cube
                DFTBA

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                • #9
                  I agree with the general consensus so far - leave this alone.

                  You are likely buying yourself a load of trouble.

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                  • #10
                    Originally posted by brokerman View Post
                    Many people say there are two types of these. Those that have leaked and those that will.
                    This is what I have heard & read. Monolithic homes are worth the section value only.

                    Personally, if I could get it for this price I'd go for it - only because you love it so much. You will have a free house to live in until it leaks, then rebuild. Keep the testing going in the meantime, you don't want to get crook from mould you can't see.

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                    • #11
                      Another option, if you really like the house, could be to factor in the cost of recladding and draw up your offer accordingly.

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                      • #12
                        ....or factor in the cost of removing the mouldy mess in a few years time and re-building. And the extra health costs that the associated stress will cause.

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                        • #13
                          Thanks everyone. All very important things that were definitely help steer us away from the deal. Luckily the bank has come back and said no now, so we don't even have to be the bad guys in pulling out.

                          As always, I really appreciate the advice you give! Thanks again!

                          Comment


                          • #14
                            Originally posted by miss View Post
                            Thanks everyone. All very important things that were definitely help steer us away from the deal. Luckily the bank has come back and said no now, so we don't even have to be the bad guys in pulling out.

                            As always, I really appreciate the advice you give! Thanks again!
                            Good luck with the house searching
                            www.ilender.co.nz
                            Financial Paramedics

                            Comment


                            • #15
                              When buying a property, whether it's your own home, or investment, consider the following:

                              1) is this property going to be a liability? financially, physically, and emotionally?
                              2) can I re-sell this property quickly for the price I paid for?
                              3) can I fix the "problems" of the property easily, quickly, and cheap?

                              As for your case, unfortunately the house you are looking at qualifies for all 3 categories, hence fortunately for you, your bank is smart enough to make the decision for you.

                              In other words, don't buy it! ( and I'm glad you did not)

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