People need to remember houses need a lot of maintenance - there are a lot of unforeseens.
My brother in law, for instance, had his Armadale (beautiful Victorian) home totally destroyed (structurally) by termites recently. His block was very small .. most of the value (more than half) was in the house itself.
Termites are rife in Melbourne - I can't believe people buy properties at auctions without having them thoroughly inspected for termites and wood rot etc..
