A hurricane-prone and flood-prone environment means that you need
to be fully prepared with the correct guidance, whether you are relocating to a
new city or just moving a few doors down. In addition to being risky during the
storm season, hurricane-prone cities may also be pricey all year long. The cost
of flood insurance, storm damage protection, and other policies can quickly
increase the total price of your house.
It is important to measure and analyze your risk of flooding and storm damage if you are looking for a new place to live in an unknown city. An additional layer of safety is provided by working with a Realtor or agent that is familiar with the region where you want to relocate, as they will know which areas are at risk of flooding and which areas are more secure. Ask yourself these four questions before making an offer on a house in a storm or flood-prone area:
What will the cost of insurance be?
Knowing
what you are getting for your money and what kind of security you will need is
essential. You should compare the distances to particular flood zones or
beaches while looking for a new place to live.
Insurance premiums may be higher for homes located within a specified distance
of a beach than for those located further away.
Is flood
insurance necessary?
Flooding
and flood damage are not covered by a homeowner's insurance policy. The only
way to avoid footing the bill for flood damage out of your own wallet is to
purchase flood insurance. A flood insurance policy may be necessary if your
house is located in a high-risk area for flooding. Low-risk flood zones do not
necessitate flood insurance for homeowners with government-backed mortgages.
Is the
house in compliance with local building codes?
You should
discover the date of the house's construction. In an effort to safeguard
residents, building
rules in many storm zones have been strengthened over the years.
Nonetheless, if the house is older, it may not meet current building codes.
Your home inspector will be able to inform you if the home is up-to-date with
current construction codes.
Is my
budget adequate to cover the cost of storm and flood protection?
If a
hurricane does strike, you will want to be sure you have the right protection
in place. Having this extra layer of safety, such as impact
windows, can help put you and your family at ease when a storm does arrive
and will alleviate any additional stress you may have when attempting to get
your house repaired and back up and running.
The answers
to these questions might help you decide if purchasing a house in a flood or
hurricane zone is right for you. It may be advisable to look elsewhere if these
questions leave you feeling uneasy about making a purchase based on your
responses. Keep yourself, your family, and your house as safe as possible in
the case of an emergency by ensuring that you are well-prepared and familiar
with all of the essential steps.
