buying in flood zone.. hmm, Rocklea, qld?

[moses]

unfortunately, i'd consider myself a gambling man lol

would i be plain foolish to purchase in Rocklea at the moment.

The 7km's from the city is so appealing to me.. the obvious concern for me is flooding/ insurance :/

anyone considered this before?

 

[hugh72]

If there is a specific property that you are interested in and you can confirm it was affected by the 2011 floods get some insurance quotes on the property so you can accurately determine your costs. Not all of Rocklea floods

 

[moses]

yep thats what i'm thinking.. i know there are certain properties/ parts that dont flood but im yet to come across some for sale

does the price of the property differ ALOT for those NOT in flood area there?

 

[hugh72]

yep thats what i'm thinking.. i know there are certain properties/ parts that dont flood but im yet to come across some for sale

does the price of the property differ ALOT for those NOT in flood area there?

Haven't followed this area closely, but IMHO it would definitely make a huge difference. But the suburb has a whole carries this stigma, I can remember driving around parts of Archerfield and Acacia Ridge looking at the old 74 flood marks and it was always assumed that to could never happen again due to flood mitigation but that wasn't the case.

 

[Azazel]

Why Rocklea anyway? Plenty of other places to choose from.

 

[moses]

Primarily because it's close to the city and it's affordable for me

But I understand what your saying

 

[Azazel]

Primarily because it's close to the city and it's affordable for me
But I understand what your saying

If you want to have a gamble, go and throw $50 on red or black at the casino. Spending a few hundred grand on a house in Rocklea is not a calculated risk - Google some of the stories of people who didn't read the fine print in their insurance.