People who are looking to purchase their dream home in UK should be provided with upfront information about the flood risk related with the property. According to a survey, a vast majority of first time buyers want this detail included when being sold with a property.
Nine out of 10 people believe that flood risk information should be incorporated in the material when selling the property. The results of a study conducted by the Association of British Insurers revealed this information.
Currently, there are no property search websites that include information about flood risk for the different location of properties in their list. Details included are school catchment in the area and amenities in the area. The association is encouraging the real estate agents and their corresponding websites to provide traffic light style details indicating the flood risk for the different locations of homes in their list. The information should be made public and they can get the data from the Environment Agency. Accordingly, every solicitor should follow the Law Society’s guidance when conducting specific searches for the flood risk of a certain region and they are also regarded to arrange an in depth assessment of the property if it is prone to floods. These recommendations are line with that from Pitt Review that people buying properties should be given upfront access to flood risk details of properties. The information will not really serve as a definitive guide to flood risk but it will be a great indication where further investigations should be done.
Indeed, flooding is one of the primary causes of a homes’ destruction. It can also destroy valuable possessions and will often force the inhabitants to move out while the abode is being repaired. A higher risk of flooding will also mean an increase of insurance premiums. With about one in six homes in constant risk of flooding, real estate agents need to think about flood risk mitigation to be part of the process of buying homes as transport links and school catchment areas have been part of the process.
This information will also be helpful for painters and decorators Northampton as it will help them decide how to style your home.