Hi emjh86
The Belway estate area is not known for flooding, the river as quite an high banking in that area, so it would need a lot of water to flood.
I have lived here all my life and never known it before.
The only area that i know is liable is in the mill dam area and then only about 3 houses are vulnerable. (see Warsop Chatter; New Flood Warnings)
Saying that, it cannot be guaranteed as proved in the Newcastle area, this week, it as never flooded in those area's before but look at the mess now. I do think you are pretty safe though.
As for the rest of Warsop, i really do love the town, the troubles are certainly minimal and definitely no worse than anywhere else. I can second The Plough for its food and you are in a very short walking (staggering

) distance from the Legion at the weekends. If you are in for livelier night life then Mansfield is only a few minutes away.
I don't know were you are coming from but our area is also excellent for being close to the countryside and as many excellent dog walking areas.
Although this is only a personal opinion, I think that the older houses are better built and certainly have more land to them if you have children and can also be obtained for a fraction of the price, although some may need a little work.