Preparedness for when

nuatha

thriftwizard wrote: »

Apparently the name "Brook Road" hadn't rung any bells with them... :eek:

My favourite was a development called The Water Meadows.

Much of the town centre where I currently live used to flood twice per year and seemed to take a lot of people by surprise, eventually the Powers That Be decided to stop pumping sewage and water drains straight out to sea, and the problem largely disappeared. The equinox tides were high enough to come back up the storm drains and flood the area that had been developed out of the marsh that the town had originally grown around. Non return valves on the drainage system would have eased the problem significantly and probably far cheaper than the eventual solution.

pineapple

GreyQueen wrote: »

The issue about domestic property is that we are trained by our culture to think of it an investment whereas it is nothing of the sort. An investment is something which generates a return. A property you rent out is an investment, a property which you live in is not.

What you home is, if you allow the scales to fall from your eyes, is a long-lasting consumer durable. It had intial construction costs and requires regular infusions of capital in maintenance and refurbishment.

I have spent eye watering amounts and gone without many times but over time, money spent has been far exceeded by the escalation in value of those homes bought at the right time which weren't a DIY disaster. Also I know me and I know that if I had been renting, I would just have spent any excess money and now I would be forking out half my pension in rent.
So for me, home ownership (over the long term) has indeed proved to be a profit making investment. It was the same for my parents too.
The reason for their esacalation in value is a separate issue.
But that was then and this is now and perhaps 'the times they are a changin'.

fuddle

thriftwizard wrote: »

Think I know where you mean, Fuddle... Not to mention the daftness of building 260+ new homes, most of them "executive waterside town houses" on a brownfield site that had known & longstanding flooding problems, where several massive pumps have been & are still running 24/7 just to keep up with the normal through-flow of water. A couple of years ago, when building first started, I talked to the surveyor and site manager (trying to get some guarantees of safety for the riverside trees. Now long gone, alas, along with parts of the bank as their root systems let go) and they were completely perplexed as to where it was all coming from. Apparently the name "Brook Road" hadn't rung any bells with them... :eek:

Just by where I lived thriftwizard. What has gone on there is a complete and utter travesty. I know the development you talk about and my ladies and gents from my caring days are just as flummoxed as you. Idiotic springs to mind.

boultdj

{hugs} to you and your hubby 1Tonsil, and glad he's getting good treatment where you are.

fuddle

I would care for a fair few older folk who could not cope with the upkeep of their family homes. Many widows/widowers felt that they wouldn't move or downsize because they were too old for the hassle, too many memories and it's their castle so they will hang on come what may or that they needed (for their own feeling of making it) their offspring to inherit the family home.

Cold and damp homes (amongst other issues) that I felt just added to the already difficult and frustrating lives.

A home that has the mortgage paid off in retirement looks to be a very good idea but once failing health comes in to play I just feel that the home can become a real burden.

[Deleted User]

pineapple wrote: »

over time, money spent has been far exceeded by the escalation in value of those homes bought at the right time
.

I was brought up with the aspiration of owning my own home and it was the done thing for me and my siblings to do so. It involved much sacrifice, particularly during the first 20 years. Then one day we were mortgage free and no rent to pay and have not paid for almost 25 years, so any money we would have spent on rent went slightly on house maintenance but majority into savings for older age. With this came the freedom to move and upgrade or downgrade at will and I now own a very low maintenance eco house which inputs money on a yearly basis

We always loved the fact that we could do whatever we wanted with the house and were beholden to no landlord. Our house ownership journey was always an investment journey and has reaped very ample dividends and eventually enabled savings and an asset that could be sold to provide me with the best of care if ever needed. I like being independent and beholden to no-one. If I ever want to move into say a retirement village or complex, then I could just sell my home and will have enough to pay rent for the rest of my life with money left over for my family. So yes for me, home owning was a brilliant investment

BigMummaF

Lots of different PoV to ponder, thank you

The news earlier made me wonder how Mar is doing I have a picture in my mind's eye of a row of three or four stone cottages jutting out from the side of a bracken covered hill, & a babbling torrent coming in the back door & out the front :eek:
There were posters in D&G too, & apparently they've been badly hit so hope they're OK (even if I can't recall who you are, just now )

Changing the subject, if I may... Any idea of how to initiate a claim for negligence against a local authority? About 5:30 one evening, one of The Offspring was heading back to their motor in a corporation car park & took a tumble resulting in a fractured elbow & wrist When we looked at the area a day or two later we realised there's no lighting AT ALL on that entrance, with any coming from the street or car park totally obscured by buildings.
Don't know about you lot but there's times when I wander along on auto-pilot, only conscious of traffic when I need to cross the road, so wouldn't have noticed the darkness either. Does that make the pedestrian liable for using that entrance, or the car park operator for due diligence?

armyknife

Alternatively it might just be one of things that happens and no one is really at fault?

As it is making a claim against the council, will only feather the nests of lawyers and ultimately all the other council tax payers will end up footing the bill.

GreyQueen

armyknife wrote: »

Alternatively it might just be one of things that happens and no one is really at fault?

As it is making a claim against the council, will only feather the nests of lawyers and ultimately all the other council tax payers will end up footing the bill.

About 80% of attempts to claim against my LA employer are unsuccessful; just because someone has suffered hurt or loss, doesn't mean someone has been negligent. But you can try it if you like, the LA will have public liability cover with one of the world's biggest insurance beasts.

Your council's website probably has a downloadable insurance claim form on it.

Interestingly, there are two peaks in all sorts of insurance claims annually - one is just after the summer holiday period, the other is early each New Year. Insurers are of the opinion that it's an attempt to recoup excessive seasonable expenditures by inventing or inflating claims, so they will be extra-vigilant at these times.

kittie, I hear what you say about how home ownership has benefitted you and others. My own parents have been mortgage-free since the late 1980s and the running costs of this modest home, and upgrades, are certainly less than the £6k annual rent it would command from the housing association which took over the council's old stock.

But that seems to be as much a feature of the economics of their time as anything else. Younger people mostly aren't buying homes, even at a pinch, and earnings are so adrift from house prices that even at a stretch, it's impossible for many. What was commonsensical a generation or two ago isn't necessarily applicable now.

Indeed, the only estate agent known to me personally rents his flat, rather than owns a home, and he's the branch manager.:rotfl:

thriftwizard

Wishing your OH a swift & uncomplicated recovery, 1T, and you the strength to "carry" him through it.

Back to the floods: I'm struggling to see how the insurance companies are going to afford all this. Admittedly I know next to nothing about high finance, but surely they are going to take an immense battering here? It's not just homes, it's business premises, surgeries & hospitals, council assets like recreation facilities, and I'm prepared to bet that hundreds, if not thousands, of roads are going to be in need of urgent repairs. The flooding that hit Somerset a couple of years ago didn't really hit any major population centres but this has inundated cities as well as towns. And a number of commercially important routes, too; businesses are going to suffer until they're repaired.

And it's only the start of the winter...