Flood damage and buying a house in a high risk area

With our evolving environment, news storeys and images of flooded homes are becoming more prevalent. The Environment Agency has estimated that there is some flood risk for one in six houses, and house-hunters need to consider and assess the risks. It is why you have to have House Surveys done before you purchase. Sam Conveyancing can help with that.

The most common causes of flooding are burst riverbanks, exceptionally high tides washing ashore, flooding of groundwater, where a rising water table causes flooding of basements, and flooding of surface water, where water during heavy rain does not drain rapidly enough.

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Home insurance rates may be heavily influenced by flood risk, especially if flooding has occurred in the past. Some insurers would want the Environment Agency’s approval of the extent of flood risk. Such clarification is also useful when applying for mortgages in an area of flood risk, as lenders would need to be assured that they can insure the land.

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For a property in a flood risk area, expect to pay higher insurance premiums. Checking the flood risk elements can also impact the cost of your solicitor – to get an idea, you may request conveyance quotes online. Should the worst arise, you may need to invest in products such as sandbags. The selling price of at-risk assets is however, going to be lower.

Although protecting your home from flooding is extremely hard, there are some measures you can take to mitigate damage. For example, in rooms at risk, avoid using carpets and ensure that power points are placed on the walls at a high level.