Should I buy this house?

Lindsey006

I am looking to buy a house and have found one that I really like. However, the house flooded in 1968, but has not flooded since then. Some work was undertaken to avert the flood risk by the Environment Agency after the event as about 50 houses flooded at the time.
However the house is in a Flood Zone 3, and I am worried that the house might flood again, and whether future potential purchasers might have difficulty gaining a mortgage on the house. The building and contents insurance is double my current home. Neighbours have lived there for many years.
Am I right to worry? Would this put you off?

Albermarle

Normally not an issue to get a mortgage in a Flood zone 3 area, although they will probably value the house lower than if it was not there. Then again sales prices in the markets will reflect its location anyway.
Double house insurance is normal, often more.
It might flood again if you are unlucky, it is up to you whether you can live with that risk. More likely you will get a soggy garden every few years.

Buying A House In A Flood Zone

Lindsey006

I can live with a soggy garden but not a full on flood. The house is in the South East and comparable pricewise to others with a lower flood risk at the moment but that might change of course.

aussie_in_wales

Look at the flood risk for planing website. You can check the risks of long term flooding, from both surface water and groundwater on here as well. 

RelievedSheff

I would probably be looking for a house with less of a flood risk unless this house was something really special that you will struggle to find elsewhere.

ReadySteadyPop

Lindsey006 said:

I can live with a soggy garden but not a full on flood. The house is in the South East and comparable pricewise to others with a lower flood risk at the moment but that might change of course.

Sounds overpriced, negotiate a decent price discount or walk away in my opinion.

Tabieth

It would be a deal breaker for me. Flooding is only going to get worse so I’d want a low a flood risk as possible. 

Lindsey006

The house does have a 100ft back garden which is in the direction of where the flooding would come from, and the garden is great. I appreciate flooding will worsen over time but I expect to be there for say 20 years. I hate these decisions!

FreeBear

The floods of 1968 was an exceptional event that only occurs once or twice in a lifetime. If that was the only time the property suffered, I wouldn't be overly concerned about it happening again.

HillStreetBlues

FreeBear said:

The floods of 1968 was an exceptional event that only occurs once or twice in a lifetime. If that was the only time the property suffered, I wouldn't be overly concerned about it happening again.

It won't have happened in many people's lifetime so could be considered due again.

Albermarle

FreeBear said:

The floods of 1968 was an exceptional event that only occurs once or twice in a lifetime. If that was the only time the property suffered, I wouldn't be overly concerned about it happening again.

Plus in some areas of the country, a large part of the housing stock has some kind of flood risk. So if you try and avoid these properties it really restricts your choice.