Would You Buy A Home In A Flood-Prone Suburb?


A double-storey home on a large block, with beautiful river views, that's walking distance to the CBD – all for under $300,000. It might seem too good to be true in today's real estate climate. But it's a reality for one Australian lady, who bought her Rockhampton home earlier this year for just $289,000. The REIQ says she is one of many buying in the flood-prone suburb to get into the property market. The insurance Council of Australia is warning those buying in a flood zone to do their research. What are your thoughts LiveTribers? Would you buy a home in a flood-prone suburb?

Posted by on 27 Oct 2022

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  • [0] [0]
    vlee

    I'd never go to a flood prone area. Many years ago we built a home in an Adelaide hills town. The road was up a bit higher than the property and we never really thought about flooding. One year there was a major storm and the water overflowed from the drains on the road and our whole yard was full of water but luckily it never got quite high enough to enter the house. In hindsight our builder should have taken that into consideration and built the house foundations up higher. Our current home is a fair bit higher than our road and we've been there for over 20 years and have never had any issues even when we had some severe rainstorms this past year.

    Posted by vlee on 06 Jan 2023
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  • [0] [0]
    PeterM

    Buying property in a flood prone zone is risky for sure, next year's seasons could turn out disastrous, you never know...it's a gamble. Same gamble if you have your property on the edge of a Pine forest or areas that are prone to fires in the hot seasons.

    Posted by PeterM on 02 Dec 2022
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    Another Gilly

    My home wasn't in a flood prone zone and even in the worst flooding water never breached. But the council has decided it is in a flood zone so my insurance has skyrocket ed

    Posted by Another Gilly on 04 Nov 2022
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  • [0] [0]
    Mickyb5533

    Anyone who lives in a KNOWN flood zone can enjoy their house and their location but don’t get in tv whinging about it being flooded AGAIN….

    Posted by Mickyb5533 on 04 Nov 2022
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    tutti_cutie

    No, not unless you're prepared to run the risk of losing everything. People get upset when there's no government or insurance assistance when these these happens, but really it's no ones fault but their own for living there.

    Posted by tutti_cutie on 04 Nov 2022
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    tassiegirl

    No, it is not worth it. It is not worth being often flooded, even if the house is cheaper. What you save on housing, you will have to spend on replacing your contents and housing. Also you may not be able to get insurance if you live in a flood prone or fire prone area. If you do get insurance if you live in a flood prone area, you will have to pay a huge amount. Some years ago after the bad bush fires in Victoria, my insurance premium rose from $50 to $155 per month. We don't live in a flood prone or fire prone area. This was with CGU. I then cancelled that building insurance and insured with another provider, as I found this premium very excessive.

    Posted by tassiegirl on 04 Nov 2022
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  • [0] [0]
    Doug

    No I would not, I know it’s going to be a nice home and view, and probably a bargain, but knowing floods occur, I won’t

    Posted by Doug on 04 Nov 2022
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    Tobymilo

    No way . Although they might be cheaper there is always the extra cost on Insurance and you would be worried all the time if you are going to have floods

    Posted by Tobymilo on 04 Nov 2022
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  • [0] [0]
    blackyb

    Not for me thanks. Trying to get Insurance will be a nightmare - if anyone will take in on to start with

    Posted by blackyb on 04 Nov 2022
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  • [1] [0]
    Turbotom

    No way would I as nature is such that eventually it will flood again and really councils should stop being greedy and actually not allow this to happen and build housing in safer places

    Posted by Turbotom on 04 Nov 2022
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    Stephen

    If i got the property for the right place i would definately buy. People forget about floods after a few years so tehe value would rise again.

    Posted by Stephen on 04 Nov 2022
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  • [0] [0]
    caperteewaratah

    Definitely not, and councils should not be allowed to approve these.

    Posted by caperteewaratah on 01 Nov 2022
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    June

    Surely no! Not even buy a luxury home lottery ticket at flood disaster zones or any natural disaster zone because it is for sure that I can't afford the insurance or no insurance company will fully cover me! It is irresponsible for a state and local government to build unsustainable communities that are subjected to repeat risks enormous economic loss.

    Posted by June on 01 Nov 2022
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  • [0] [0]
    Sandrag

    Simple answer .....NO. It may be cheaper to buy, but when you can't afford flood insurance and the whole lot needs replacing because of damage, it becomes much more expensive.

    Posted by Sandrag on 01 Nov 2022
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  • [0] [0]
    Alice

    I probably wouldn't buy a home in a flood zone if I didn't need to

    Posted by Alice on 01 Nov 2022
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  • [0] [0]
    Lionlamb

    Having seen what a friend is still going through after the floods, I would say definitely an emphatic NO! I think peace of mind is worth more than a bargain.

    Posted by Lionlamb on 01 Nov 2022
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  • [0] [0]
    caperteewaratah

    Bargain its nit, more like nightmare.

    Posted by caperteewaratah on 01 Nov 2022
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    ERIN

    l wouldn't buy a home in flood area, unless l could get insurance. It also is a mental issue, could you see your home and rebuild. Feel for those people.

    Posted by ERIN on 01 Nov 2022
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    Jibberman

    The price might be right but it's too much of a risk in these times when the weather is unpredictable and the occurances of floods are rising along the east coast.

    Posted by Jibberman on 01 Nov 2022
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    lotte13

    One could not afford Insurance on the property . So no , it only takes one flood to loose everything

    Posted by lotte13 on 01 Nov 2022
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    Busy Bee

    No I wouldn't. You would pay extremely high premiums to insure the property.

    Posted by Busy Bee on 01 Nov 2022
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    goulah

    That is gambling with your life and possessions. There has been a lot of discourse about this subject and ignoring my own opinion, I decided to check up on the legal aspects of this. One definition is: “ Flood-prone area means the component of a natural or restored stormwater conveyance system that is outside the main channel. Flood-prone areas may include, but are not limited to, the floodplain, the floodway, the flood fringe, wetlands, riparian buffers, or other areas adjacent to the main channel.” In a nutshell - no I would not buy in a flood prone area. [Ref: Lawinsider.com]

    Posted by goulah on 01 Nov 2022
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  • [0] [0]
    Ana

    I think it's worth the risk if the house is raised above the flood level.

    Posted by Ana on 01 Nov 2022
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    Melisandre

    No I would avoid buying in a flood prone area

    Posted by Melisandre on 01 Nov 2022
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    ShannonS

    No I wouldn't

    Posted by ShannonS on 01 Nov 2022
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    senilesal

    I would never buy a home in a flood plain and councils that allow them to be built are negligent for allowing it. Insurance is very. High. And would be out of the reach of most. People everyone needs to do their research before purchasing. Considering a home can be our largest expense and long term debt.

    Posted by senilesal on 31 Oct 2022
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  • [1] [0]
    Panda74

    As I live in a town that does flood, I would never buy in a flood prone area, as the insurance costs are too high and often insurance companies will not pay the claim.

    Posted by Panda74 on 31 Oct 2022
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  • [1] [0]
    Ozherb

    Only if the alternative was to be homeless. Other than that, I don't understand why anybody would choose to do so.

    Posted by Ozherb on 31 Oct 2022
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  • [0] [0]
    CILLY0

    No way would I do this - I have lived through a flood and a fire and I don't prefer the flood!!!

    Posted by CILLY0 on 31 Oct 2022
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    Jennifer

    No I would not

    Posted by Jennifer on 31 Oct 2022
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  • [0] [0]
    Debra

    Price is good but would have to put away a lot of money so you can rebuild. Maybe have to have a lot of sand bags on standby too. Maybe make the garage under the house so that floods. So your house is really three story high instead.

    Posted by Debra on 30 Oct 2022
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    Nenester

    Everyone dreams of owning a place in a nice spot...and alas this sometimes results in people taking unnecessary risks to obtain homes in areas subject to flooding.. I personally would not and would always encourage anyone to make/ask the necessary enquiries but sometimes people act with their hearts...when buying a home

    Posted by Nenester on 30 Oct 2022
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  • [0] [0]
    Ally42

    No, never. They should not build homes in flood-prone areas.

    Posted by Ally42 on 30 Oct 2022
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  • [0] [0]
    eshu

    No, I would not!!

    Posted by eshu on 30 Oct 2022
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  • [0] [0]
    yelsha42

    Not likely, would be like gambling away all your money

    Posted by yelsha42 on 30 Oct 2022
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  • [0] [0]
    kendallx3

    No way!

    Posted by kendallx3 on 30 Oct 2022
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  • [0] [0]
    topa

    No, I would not buy the home in flood-prone suburb. Too risky to loose money.

    Posted by topa on 30 Oct 2022
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  • [0] [0]
    Lee1

    No, I definitely would not buy in a flood-prone section. I would also be conducting my research thoroughly before even making an offer on a house. It should be included with solicitors' due diligence when they do all sorts of checks, but I think they are probably connected somewhat with the property developers who can build wherever they like regardless of the ongoing risk to consumers.

    Posted by Lee1 on 30 Oct 2022
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  • [0] [0]
    Maryam

    No I will not take the risk of buying a house in those areas.

    Posted by Maryam on 30 Oct 2022
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  • [0] [0]
    Market guru

    no way would i buy in a flood zone no matter how cheap or multiple storeys the house has impossible to get insured.

    Posted by Market guru on 30 Oct 2022
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  • [0] [0]
    Andreas

    No. It may be cheep, but not worth the risk. Insuring it may be difficult and VERY expensive or impossible; the same goes for selling it. Andreas

    Posted by Andreas on 30 Oct 2022
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  • [0] [0]
    Jessica

    One would have to wonder why the price is low. Its like asking the question would you buy a home in high risk areas of bush fires. At the end of the day you will have to be prepared. Personally I wouldn't as the house may be cheap but the insurance will be high and the fact that you will always need a plan B up your sleeve for when the inevitable happens.

    Posted by Jessica on 30 Oct 2022
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  • [0] [0]
    rebecca

    Personally no, too much risk of losing everything. But, in saying that, even in non prone flooding zones you could still get flooded out.

    Posted by rebecca on 30 Oct 2022
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  • [0] [0]
    Mikayla

    I think a lot of people assume that because a house is up for sale in say a housing estate- due diligence etc must have already been done. No one could consciously sell a hour on a flood plain could they? I strongly believe that the research should be done by the buyer, and if you do not insure your house- or can't get insurance because you are on a flood plain- don't expect taxpayers to have to foot the bill. If I knowing left my car unlocked, then expexted my neighbours to pay for it to be replaced when it got stolen, does that seem right?

    Posted by Mikayla on 30 Oct 2022
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  • [0] [0]
    Tara Rata

    Never. Too much risk of losing everything

    Posted by Tara Rata on 30 Oct 2022
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  • [0] [0]
    magiemoo

    Personally I wouldn't buy in a flood zone area but each to there own

    Posted by magiemoo on 30 Oct 2022
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  • [0] [0]
    Joshy79

    I have a family member who lives in one- having visited recently I would be open to it, housing on stilts helps as well as emergency precautions are in place.

    Posted by Joshy79 on 30 Oct 2022
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    Brian

    I live in a fire prone regional town….some towns have high crime rates….prices are dramatically falling post Covid across it doesn’t matter where you live it is Buyer Beware ….and a risk …I would rather live in a flood prone area than a bushfire prone area….whatever property you buy just weigh up the risks…

    Posted by Brian on 30 Oct 2022
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  • [0] [0]
    Ann

    It would depend what was on the ground floor. It it had a foundation which had flood/water tolerance and furniture was such that it could be stored above the flood line I would seriously consider all aspects involved

    Posted by Ann on 30 Oct 2022
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  • [0] [0]
    Heather

    I don’t think I could handle the stress and knowing that the insurance is so high, I’d prefer not to live on a flood plane, especially after the number of floods that have I happened recently.

    Posted by Heather on 30 Oct 2022
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  • [0] [0]
    Kittykato

    I don't think I could afford the insurance! And having a house without insurance is just asking for trouble.

    Posted by Kittykato on 30 Oct 2022
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  • [0] [0]
    sandra

    I would be very wary about buying a home in a flood prone area and would need to check insurance, frequency of flooding etc. Then again, some areas don't seem to be flood prone but things can change, especially if surrounding structure is altered, water courses etc. Our home would not appear to be in a flood area but five years ago a massive downpour, 75mls in twenty minutes, sent water gushing through our whole house. We have improved drains but recent heavy and extended rain was a bit concerning.

    Posted by sandra on 30 Oct 2022
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  • [0] [0]
    wrestling collector

    It depends how low the asking price is,however need to take into account that insurance would be very high.The Government at present seems to compensate the uninsured when flooded,could change in the future

    Posted by wrestling collector on 30 Oct 2022
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  • [0] [0]
    merryl

    I would not choose to buy a home in a flood zone, but sometimes people don't have a choice. A home in a flood zone may be all that they can afford.

    Posted by merryl on 30 Oct 2022
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  • [0] [0]
    DevChap

    No but I’m lucky enough to have a fairly decent choice of where I can live. Not everyone has that choice.

    Posted by DevChap on 30 Oct 2022
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  • [0] [0]
    Karen

    No I would not buy in a flood prone suburb. Clearly the risks are growing to live in these areas now.

    Posted by Karen on 30 Oct 2022
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  • [4] [0]
    mact

    It should be against the law to buy residential dwellings in known flood plains. Everytime the same areas of Australia experience floods the same arguments are trotted out.....do we ever learn?!

    Posted by mact on 28 Oct 2022
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  • [0] [0]
    Karen

    No, it seems that the same things are said each time there is a flood but nothing actually changes.

    Posted by Karen on 30 Oct 2022
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  • [0] [0]
    OpalOne

    Maybe we shouldn't build in flood prone areas. But what about bushfires, tropical cyclones or earthquake prone regions? We have all three in recent years. That's living in coastal Tropical North Queensland. A risk we take having carefully considered the risks, benefits and costs.

    Posted by OpalOne on 28 Oct 2022
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  • [4] [0]
    Carol

    No, I would not buy a home in a flood prone suburb. Councils need to be more responsible and NOT approve dwellings in these areas. Ultimately they end up being a burden on the much wider community and lives are at risk. Levees only cause grief for many others. Lismore is the perfect example of levees repeatedly failing and impacting others downstream.

    Posted by Carol on 28 Oct 2022
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  • [3] [0]
    Paula

    When I was a child back in the fifties we had floods every year, then after one flood one neighbour had their house raised but it hasn't flooded since. Just because it hasn't flooded now for 50 or more years doesn't mean it won't again. It has flooded before and it will again. There is no way I would buy on a flood plain. They have the name for a reason.

    Posted by Paula on 27 Oct 2022
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  • [4] [0]
    ere

    We had a weekender that was on a flood plain, why the council ever approved the plans was beyond us. It should be totally illegal. We ended up flooded twice in 5 years. Ended up selling it at a loss. Don't expect to get insurance or public sympathy when eventually you do get flooded out.

    Posted by ere on 28 Oct 2022
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