Unsure about property purchase(4 Posts)
I’m in the process of buying a property that I’m not sure about. It’s a 4 bed detached in a reasonable area, it needs extensive updating about £40k and is priced accordingly. It’s above average okay. It has options for flexible living accommodation. It is not going to be my forever home and I’ll need to move again as it will be far too big.
The major flaw with it is a medium flood risk and that is the stumbling block that I keep returning too. I’m concerned about future resale as a result and although it’s not flooded in the past 20 years it is on a flood plain and it does have a stream about 20m away. The house next door has a low flood risk because it is not on the flood plain even though it is only 1m away and the site is completely level. It is nonsensical.
I am conflicted about what to do. The house is good value and does for the here and now but there is a but that I can’t shift. I’m just going round in circles.
You don't sound that keen on it! What are the reasons for buying it? Any reason you can't wait for something else to come along?
If this was the right house, the flooding issue wouldn’t be holding you back. I live next to a river in a medium floor risk area, but I didn’t give it a second thought.
Has the house you’re looking to buy flooded before? Would you be able to get insurance under normal terms?
What you need to consider is that houses at current medium risk of flooding will probably over the years gradually become more at risk. There are two reasons for this
One climate change is making flash and fast rain downfalls much mire common. Where I live we are seeing at least a couple of times a year 20 minute intense downfalls that cause floods as it is too slow draining
The second more risky issue is the ridiculous granting of planning permission of buildings on traditional flood plains. Builders promise flood defences, and their houses won't flood which is true, but what happens is that houses further downstream get it.
My dad remembers a housing estate built 25 years ago. They were aghast as it was a traditional floodplain. Builders promised defences which are effective and the estate has never flooded. However, two years after it was built there was a typical storm and heavy rain and for the first time ever houses further down the village flooded. They have now flooded in full or part circa every 5 years. There is no doubt what the reason is
Therefore I would pass on buying it
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