So this was going to be a blow-by-blow account of how I tried, and succeeded in, buying the lovely, intensely lovely, village house in Pui O against all odds. I was going to tell you about how the landlord told me I could buy the place for 3 million, then suddenly decided last week that the house now costs 5 million.
I was going to tell you about how I spent a week setting heaven and earth in motion to get a loan; through a broker and by approaching bank after bank directly. I was going to tell you about how they all turned me down because the house is old, I am old and I have only had my own business for years, a non-loanable situation compared to someone who’s been employed by some company for a week.
I was going to tell you about how I went from hope to despair and back to hope again, crying myself to sleep only to wake up in the morning full of hope – surely after all the work, love and money I have put into this place, justice would prevail?
Well, it all screeched to a halt this afternoon when I got an email from a geotechnical engineering company. It turns out that the slope behind my house, propping up the village above, has been deemed a dangerous slope in urgent need of repair. This could cost a million or more. As I can’t get a bank loan before the slope is fixed, that pretty much settles it.
Even if against all odds I could get a loan and did fix the slope, who is to say I wouldn’t be slapped with another terrible slope-bill ten years down the line, rendering the house unsaleable and not at all the investment for my real old age I was hoping it would be.
So has all my hard work come to naught?
Where will i go if I have to go?
Meanwhile I still have my brand-new hotel room downstairs up for rent, long (ish) or short-term.
Will post photos of it. As it is, I have to get drunk and fast. But I still have one, the best of all options, left: A MIRACLE.
Thank you so much for sharing this account of home purchasing. It’s agonizing to read, but that’s what makes it so interesting!
Btw, how many people would you be willing to rent your downstairs room to – could you squeeze in 4?
Yes if they are very close. There is one single bed, one sofa which turns into a double bed, and one mattress bed. But the room is very small. The bathroom’s big though.
Yes, if they don’t mind being squeezed. There is a wide single bed, a double (sofa)bed, and a mattress that folds into a chair. Very comfortable.
I was on the edge of my seat waiting for the new installment and now I’m very, very sad for you. I hope that you find something better to move on to.
When will you have to move? How much are you letting your room out for?
Not yet, obviously. Still hoping for the proverbial miracle! The point is, it’s all out of my hands. I’ll just stay and stay until the landlord forgets all about it. Great! So the dinner is going ahead. I will put and invite on Facebook.
Wa-hoo! I’m looking forward to our dinner – wherever it is, I know it will be good wholesome fun.
Why do you have to repair the slope? Doesn’t the government own the land? Have you spoken with any of the council members in Mui Wo about it?
The Man worked with a HK water company during our last year there. They also dealt with slope surveying and management…everything seemed to be government-run.
Yes, unfortunately it’s the house owner’s reputation.