Top 5 Questions to Ask Your Realtor Before Buying a Home in a Flood Zone

what you need to know about buying a home in a flood zone

Buying a home in a flood zone is a decision that should be made with great care — and a lot of information. With the recent impacts of Hurricane Harvey, Irma, and Maria, it is important to get the proper insight prior to your next home purchase. That home could be a wonderful choice for you and your family, but just be clear on what you need to know before you sign on the bottom line.

Here are the top 5 questions to ask your realtor before buying a home in a flood zone:

5 Questions to Ask Before Buying a Home in a Flood Zone

  1. Should I Buy a Beach House?

  2. Living on the beach is a dream for many homeowners. Depending on where it is on the National Flood Insurance Program Map, the rates may not be that different from a beach home to one a few blocks away. The ones marked in the Special Flood Hazard areas are at the highest risk (1 in 4 for a 30-year mortgage).


  3. What Type of House Should I Purchase?

  4. Some homes are built to withstand hurricane-force winds. From the type of material to the design, construction will vary. This can include a home built on stilts to protect from flooding. An important factor to consider is that if the home is built to code to stand up in hurricane-force winds, your insurance will be lower. Make sure to get a good inspector.

  5. How Much Will I Be Paying for Insurance?

  6. That depends. Florida has rates in the thousands per year. You should definitely consult with an insurance agent as part of your decision-making process prior to purchase.

  7. Do I Need to Get Flood Insurance Too?

  8. The standard policies typically cover damage from strong winds but not flooding. With the most recent devastation in Texas, Florida, Puerto Rico and much of the Caribbean in 2017 — when you are buying a home in a flood zone, it is something you should at least consider. Check out the latest information at the National Flood Insurance Program website.

    3 Types of Insurance You Need When Buying a Home

  9. If My Home Does Get Damaged — What’s My Deductible?

  10. If your home gets damaged by hurricane-force winds, you will typically pay an additional percentage on your standard deductible — around 2-5%. This is separate from any flood insurance you may choose to purchase.

    People will continue to purchase and live in beautiful homes that are in flood zones. Whether they are right on the beach, or further inland, communities all around Florida and other states will offer opportunities for potential homeowners. But there is a risk. That is why it is critical to get the information you need before you make that step.

    Whether you decide to purchase a beach house or other dream home, make sure to consult your full team of industry professionals with any questions. Purchasing flood insurance on top of your regular insurance may be the right choice to give you the peace of mind you need — and enjoy the comfort and beauty of your new home for years to come.