3 Factors To Consider Before Buying a House in a Flood Zone

8/13/2020 (Permalink)

Flood zone in Dunlap, PA

Consider The Following Factors Before You Close The Deal

Location plays a strong role in the crucial decision of purchasing a house. If you choose to live in Dunlap, PA, you will need to figure out if the area is labeled a flood zone, also known as an area with a strong flooding risk. Consider the following factors before you close the deal.

1. Specific Location Designation
Not all flood-risk areas are the same. The Federal Emergency Management Agency classifies locations based on the possibility and frequency of floods. Areas with lower risk are usually designated the letters B, C, and X, while the places with a higher chance are A or V. However, FEMA designations shift constantly, so you should not panic whenever there is a storm. At the same time, you should prepare even if you live in a low-probability area.

2. Flood Insurance Costs and Benefits
Selecting a house inside a flood zone carries several consequences depending on the severity of the location. Some of the aftermaths involve a higher flood insurance price. This program is usually an addition to regular insurance, but it also covers specific areas like structural and equipment damage. Some insurance companies even require it. Determine the feasibility of the cost by asking your agent for a quote before you continue.

3. Additional Preventative Measures
An insurance plan and emergency restoration services are not the only resources you have to protect your property. There are several preventative measures you can enact to reduce flood damage. Ensure the plumbing and drain systems remain unclogged and have no leaks. Seal walls and other potential openings with waterproof materials. Elevate electrical devices and valuable items to prevent further damage. Use a sump pump to divert floodwater away from the building's basement.
Choosing a new community is a major decision that involves multiple factors, including the possibility of natural disasters. If you are considering living in a flood zone, think about these aspects to make a strong decision.