Many thanks to all for your input!
The "dedicated" solution suggested by kripton2025 is what I did for my first generation of water level sensor. (Which did not survive the first winter, for reasons unrelated to the automation platform...) But with a second sensor on the to-do list right away, a couple more sensor ideas in the back of my mind, the desire to get alerts sent to my phone, a Kindle-based dashboard display waiting to do something useful etc., I think the added complexity of an automation hub makes sense for me.
Home Assistant looks like the right platform for me. It checks all the boxes: Cloud-less, requires some setup work for the server (but giving you good control in return) but not for each sensor/actuator device (unlike Tasmota), can support devices from many manufacturers as well as homebrew.
I will take a closer look at JeeNode, which I had not come across yet. Technology-wise it seems a distant cousin (and maybe a precursor?) of Zigbee, also operating in the 868 MHz band. Since I will probably want a Zigbee gateway anyway, for smart lights etc., does Jeenode have significant advantages, regarding power consumption or other parameters?
In any case, I will dig out a Raspberry Pi and give Home Assistant a try next!