Alarming reason behind $350,000 discount on 'perfect' waterfront house
A clifftop cottage with breathtaking ocean views has had roughly $350,000 wiped off its sale price, despite its prime location and dreamy surrounds.
The four-bedroom home in Dunwich, near Suffolk, in the UK overlooks the North Sea – the ocean between Britain and mainland Europe – and is currently listed for A$523,000 (£295,000).
Although stunning, the coastline in Dunwich has been impacted by erosion, according to UK reports, and other homes along the shoreline have previously toppled into the sea.
Stuart Clarke, a partner for real estate agent Clarke & Simpson which is selling the property, said the home will need extensive renovations with the new sale price factoring that in.
The cottage is in a "fantastic position," he said, and could be worth around A$350,000 more than the asking price if it weren't for the risk of erosion.
But it's believed the current owner of the home, who has reportedly lived there for 32 years, has not been affected by the risk at all, so the new buyers might be in luck.
The 13m cliff is supported by vegetation which means it is less likely to erode, Mr Clarke said.
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"There has been no significant loss of the coastline in that area for a long time, although nobody knows what will happen in the long term," he told the British newspaper Daily Star.
"There's strong interest... both from people who want it as a second home and others who want to live permanently on the coast."
He also said it'd make a "wonderful" holiday home because of its position by the sea.
The cottage was reportedly built in the 1820s and sits on 0.2 acres of land.
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