My House Has Previously Been Flooded - How Will This Affect Its Market Value

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Sadly we have all seen pictures on the news over recent years of people who have had their home and belongings destroyed by flooding. Until it happens it is hard to appreciate just how devastating a flood can be and how much destruction it can cause to the affected area in just a short space of time. Putting a house back together after a flood can take months, or even years, as you wait for the property to dry out and begin the process of cleaning, redecorating and replacing your destroyed belongings. So what happens when you decide you want to sell your property? You may be concerned that nobody will want to buy the property if they know that it has previously been flooded or that, if they do, the market value of your property may be significantly reduced. This article looks at the different reasons that properties are subjected to flooding and whether the floods do always have an impact on the price of the property when it comes to selling.

Floods can happen for 'natural' reasons or because of some internal fault or disruption within the property. Natural floods include surface water floods and groundwater floods which can happen during time of exceptionally heavy rainfall (often in a short space of time), river flooding and coastal flooding. Floods can also occur because of a failed reservoir or dam or because of a burst water main in the vicinity of the property. Internal floods are caused by, for example, a burst pipe or a burst water tank. Whatever the reason for the flood, the consequences can be devastating and the cleanup operation can entail months and months or hard work and financial cost.

Whether or not the value of your house will be affected by the fact that it has previously been flooded often largely depends on the reason for the flood. For example, if the flood was caused by an unprecedented amount of heavy rain, coupled with the fact that the drains outside your house were blocked, then this will probably be viewed as an unfortunate, 'one off' event which is not likely to have a significant effect on the value of your property.

However, if you live next to a river or near to the sea and you have, on one or more occasion, had your property flooded, due to fast flowing flood waters or exceptionally high tidal waves your property is likely to be considered more at risk and this may well be reflected in the price at which you are able to sell your property. The best thing you can do is show that you have taken every step possible to flood proof your property such as installing flood defences within your home. A prospective buyer would need to check whether they would be able to get insurance for the property and may also wish to seek advice from an experienced chartered surveyor who will be able to assess the risk of flooding in the future.

It is best to be as prepared and as knowledgeable as possible when it comes to flood risk so you that you are able to answer questions about the risk of flooding to the property openly and honestly, as well as being able to explain the defence measures you have put in place to reduce the risk of any future flooding. The Environment Agency, will be able to tell you (and any prospective buyer) whether your house is at risk of flooding and whether the risk is categorised as low, moderate or significant. This categorisation may also have an impact on how much, if at all, the value of your property is reduced.