Am I Being Wilfully Optimistic

[SunnyDorset]

Hi

We are looking to move house. After a rocky period financially where we were stuck renting unable to afford a deposit, I am in the process of receiving a substantial inheritance.

A house has become available which is almost perfect: picture box thatched cottage, a stream running through the garden, an aga, gorgeous terracotta flooring, 4 bedrooms... an extension that could become an annexe where our autistic daughter could remain living with us into adulthood but have much more independence. It is within budget.

However, it flooded badly in 2016 as did the rest of the village - it seems water came down from the surrounding hills rather than the stream rising up - and 'water came in' again in 2024 but no insurance claim was necessary. It has flood barriers installed on all doors and significant work in the garden to increase drainage. There is also work planned in the village to prevent further flooding. How big a red flag is this? What further information would you need?

For clarity, with the inheritance, we would not need a mortgage and the property is currently fully insured - we have asked how much that costs.

You have to be prepared for the fact that it will flood again, maybe on a fairly regular basis. Only you can decide if that’s enough to put you off. It certainly would me.

Also keep the thatched roof in mind. They are a fire risk, and repairs / re thatching won’t be cheap when necessary.

My friend is selling her parents house right now. It's an historic thatch with a stream running through the garden and outbuildings and tiled floors. I don't think it's the same house! Don't get tunnel vision thinking this is the only beautiful house in the world.

I live in a flooding area and it's a lot. I don't really care - I've no plans to move - but it's a lot and can be stressful. I've never been badly flooded myself, just bits, but have cleared up neighbours and it's very upsetting. Don't underestimate it, especially with a disabled child. I had to have a specialist flood escape plan and do practice evacuations with mountain rescue! (And spend a lot on getting a special window you can fully open for helicopter escape but that's another issue)

Not only does it flood which is a silly thing to take on and only going to get worse, you also said its thatched.

Sounds like a bloody nightmare.

Also, you couldn't save a deposit of get a mortgage and only afford the one off buy it cost through inheritance so how on earth do you expect to pay the extortionate ongoing costs of a thatched property in a flood zone... its an absolute money pit.

Houses aren't a one time outgoing, they need maintenance and one like that has strict rules, limited specialist suppliers and needs CONSTANT upkeep.

For instance depends on sizes but rough guideline:

A flat roof might cost £1k and last 10 years
A red tile rood might cost £5k and last 25+ years
A slate roof might cost £15k and last 100+ years
A thatched roof however £20-30k and lasts 10-15 years

Don’t do it op! Seriously! Flooding is miserable. Thatch is a fire risk.

There will be plenty of other suitable properties with the potential for an annex.

If you are looking for a period property, trust me there will be problems enough to deal with, without the potential risk of flooding.

Water levels are rising, weather patterns are becoming more unpredictable. Even if you escape a lot of flooding; think of the re-sale value in twenty years. It doesn’t make sense to buy something with an in-built issue.

Flooding risk would put me off particularly as the climate is becoming wetter. However mortgage free obviously gives you more freedom so you need to weigh up how much you love it.

It sounds beautiful! Is it true that thatch attracts spiders?

I had to have a specialist flood escape plan and do practice evacuations with mountain rescue! (And spend a lot on getting a special window you can fully open for helicopter escape but that's another issue)

Wowsers!

I personally wouldn’t buy that particular property, sounds like a lifetime of problems.

It sounds beautiful but I really wouldn't touch it.

You might have trouble getting insurance because of the risk of flooding and a thatched roof is incredibly expensive. I'm doing up ours at the moment and keeping a strict eye on the budget but everything is so expensive and I don't need artisans like you would.

There will be other, much less stressful houses.

A friend of mine bought a cottage with a thatched roof,

they need replacing on a regular basis and are bloody expensive.

feel free to buy but you’ll need financial reserves

Oh that's not for everyone in a flood zone obviously! But yes, quadriplegia introduces complications in life. 😂

It sounds idyllic (apart from the flooding issue, obviously), but I wouldn't do it.

Our last-but-two property was a picturesque thatch (also with a stream running through the garden) and I found living there so stressful, mainly due to concerns about chimney fires and eventual thatch replacement.

The previous owners of ours had a complete re-thatch about four years before we purchased, so it was fairly new when we bought the house (I hesitate to call it a cottage as it had very high ceilings and didn't feel remotely cottage-y inside), but nonetheless I was constantly worrying about the cost of replacement.

We only stayed three and a half years before we sold as a chimney fire - albeit a minor one that we put out ourselves - did finally happen after an issue with the wood burner flue. I was so spooked by this I persuaded DH (who'd move back in a heartbeat 🙄) to sell.

If flooding had been a known issue too (before purchase), we'd never have considered it.

We bought without a mortgage, but although we had a decent budget to renovate and extend - which we did - there wasn't sufficient for replacing the roof. I wasn't prepared to stay long enough to save for what friends termed a 'rich person's roof'. Insurance wise we used a specialist broker and didn't find the cost too onerous although that was 10+ years ago so might be different now of course.

I guess if the inheritance would allow you to set money aside to replace the thatch when necessary or you can save for this, it's not so bad - but the flooding would be the big no for me.

Your house insurance would be vast. I used to live in a thatched house and it was well over £1000 per year, and that was with no flood risk

Does your income match this house outside of the inheritance?

Have you factored in the ongoing maintenance costs, insurance, utilities etc ?

Given you have had a previously rocky experience with finances, I'd worry about overstretching (although only you know the figures).

A thatched roof as others have said requires you to be putting money aside to replace much more regularly than slates or tiles.

You have the opportunity of financial security but it feels like this property might be a risk to that.

Even if it’s insured now, there’s no guarantee it’ll be insurable in the future, especially if it floods again.

Agas are very expensive to run so that’d be a no from regardless of the flooding issues.

You can insure a house in a flood zone. The flood insurance scheme is guaranteed until 2039, at which point, yes, flood insurance will be a crapshoot again. https://www.floodre.co.uk/about-us/

Thank you all for your input.

The thatching I am less concerned about: it is a known and a budgetable cost. And being mortgage free and not paying the ground rent and the service charge for our current flat will allow us to manage that.

We have already asked for a lot more details about the flooding: there's a world of difference between 'My carpets got soggy then dried out' and 'the water was 3 foot deep in the kitchen and we had to throw everything away'!

We have asked what the vendors pay for insurance - if willing to provide - as a guideline to see whether we can manage it. It is currently a second home and empty a lot of the time. When we viewed it, the aga was running whilst the property was unsupervised under the thatch which would worry me - I imagine insurance require heating when empty to avoid pipes bursting in the winter... As a holiday home, too, the ability to react and respond to rising water might have been limited, though I suspect they have housekeepers and gardeners keeping an eye on it.

Another concern is resaleability. We are looking at this as a 'forever' home not an investment, but equally when DD inherits we want there to be a saleable asset.

I am very torn: heart loves it; head is very concerned.

Thanks for all your perspectives!

Are they that expensive? Obviously they are on pretty much permanently and theres a higher servicing need...

Will do research

Lived with thatch before and yes spiders love it. Obviously then it was landlord paying for the thatch upkeep (via our rent!)

Climate change and the increasing incidence of 'extreme' weather - it has been genuinely noticeably over the last 5 years - is a real worry. Our old house flooded 3 times in the last couple of years (mildly, carpets needed replacing on the worst occasion, that was all and landlord sorted it) for the first time.

It does sound beautiful and I can see why you are tempted. However. The stress involved in living in a property that floods. (especially as a homeowner and not a renter) is something I would never choose to live with. I understand what you were saying about the doors having flood barriers and the whole thing is being looked into because it's flooding coming down the hills, et cetera... but personally, just NO, there is no way I'd buy a property known to be a flood risk.

Maybe instead of being Mortgage free, you could consider helping your budget and only having a small mortgage, but live in a beautiful house that isn't a flood risk. That's what I' ld do anyway.

A friend of mine bought a house that floods. It was awful. It flooded this year and they were stuck upstairs with no electricity which meant they only limited time on phone batteries to arrange help. No friends or family could get to them because of the flooding. Rescue services got them out and they are insured but have to be out of the house for at least 6 months, possibly a year. Insurers pay £100 pay a night for alternative accommodation.

I would not touch a house with historical flooding.

In the gentlest possible way OP, you really need to do more research about the impact of flooding if you are giving this house serious consideration.

The water doesn't need to be three feet deep to decimate the interior of your house.

Flood water isn't clean. By the time it reaches your home, it's stinky, contaminated, and full of shit. It's not a case of "just drying out the carpets" if they get soaked. Your house will absolutely reek and your carpets full of dirt and debris.

I lived in a road that flooded until 18 months ago. Our back garden, road, and outbuildings were flooded but thankfully not the house. Many of our neighbours and friends were flooded though, as their properties sat lower than ours. I can't even begin to tell how disgusting flood water is, or how only a small amount can wreck your home.

Also, I have two autistic DC and they really struggled with it all (also autistic myself). It was awful - not just the practicalities of dealing with the floods when it arrived, but the anticipatory anxiety leading up to it. It was so hard for them. You say you are concerned about leaving an asset for your DD after you're gone - how would she be able to deal with the house flooding if you weren't around to support?

The house sounds beautiful but I think given your circumstances, this has too many challenges. Sorry to be negative.

On a separate note OP, the house we recently moved into, we have built an annexe. My DM is in it now, but the long-term plan is for our DS to live in it when he's older. There are lots of houses with annexe potential that won't have the same difficulties attached.

Any outdoor flooding is not a case of my carpet got wet and then dried, the water that floods from outside is contaminated with bacteria, parasites and fungus. Everything needs replacing, its not like having a small leak from a clean water pipe.

I really don't think you understand the severity of a flood zone.

Basically, the sewage backs up. It really is horrendous.