Top Tips When Purchasing a Home Inside a Flood Zone

1/10/2022 (Permalink)

Help Safeguard Your Assets and Financial Security

Purchasing a home in Orange Park, FL, can be an exciting experience. However, homeownership is a financial investment that should be carefully considered and protected. Purchasing a home located in a flood zone may be risky, but there are several steps you can take to help safeguard your assets and financial security.

Conduct a Thorough Home Inspection

A home inspection is an important aspect of the home-buying process that helps prospective buyers identify potential issues within the house. Because purchasing a home with pre-existing flooding damage may not be ideal, you should carefully examine the structure for any signs of water damage, such as the following:

• Stains on the walls and ceiling
  
• Swollen walls and warped floors
  
• Cracked drywall
  
• Corrosion around pipe connections
  
• Missing or loose caulking
  
  

The presence of a musty odor or any of these symptoms may indicate flood damage that has not been adequately addressed, which may be cause for concern.

Purchase Flood Insurance

Living in a flood zone means you may be highly susceptible to flood damage. Most home insurance policies do not cover losses resulting from flooding. To safeguard against costly out-of-pocket cleanup and restoration expenses, homeowners should buy a flood insurance policy.

Prepare for Storms

A hurricane or other significant storm may produce significant rainfall that can cause significant problems for homeowners living in areas prone to floods. To prepare for this situation, it’s a good idea to have a sump pump, hose and alternative power source readily available.

You should also consider purchasing a reusable flood deterrent device that can divert water away from your house. Although you can also use sandbags, this traditional method cannot be reused and takes considerable time and effort to prepare, which may not be ideal if you have limited notice of an approaching storm.

Being Proactive Is Essential

You should not despair If the home of your dreams is in a flood zone. Taking proactive measures including carefully inspecting for existing water damage, purchasing a flood insurance policy and making adequate flood preparations helps protect the house and your financial interests.