Hi Cathy,

I agree with all of the respondents. It is simply a matter of whether you really love the house and when you walk in you feel at home. The chances of the house flooding that badly are slim. However because of legal issues, insurance issues the fact there is a possibility must be disclosed.

As a personal experience, I too bought an old, cottage style house when I was in NC. My property line on one side of the house was a small creek which was much closer than 200 feet. The worst I ever had was some slight flodding of the backyard. And by that I mean the ground/grass became a little squishy. I never had a problem with the crawl space nor with dampness in the house itself. I loved that cute little house and the acre it sat on.

As far as the premium for your quoted flood insurance, that sounds high to me. Unless you are talking a very large house, assessed at a very high rate. I woud shop that around and see what else you could come up with. If you would like some suggestions please feel free to email me and I will send them to you.

I notice that you are talking the 30033 zip which I believe is Decatur. Where is the property located? Perhaps I could find out more info for you if I knew where this flood plain is located. Decatur is not an area I would guess to even have this issue.

Warm regards, Bob

Robert Carlough, Realtor
Gordon Street Realty
rpc@gordonstreetrealty.com

My biggest concern that I express to clients about homes in a flood plain are resale issues. This question you are asking, should you buy a home in a flood plain, will be the same question future buyers will ask when the time comes for you to sell. It will limit the pool of potential buyers, as many people will not even consider purchasing a home simply for this reason alone.
But if you love this house and expect to live there for many many years, it may be a good possibility for you, and hopefully you could get a great deal on it given the flood plain situation. If you do not know that you will live there for a long long time, I would have reservations.

Cathy,

Your insurance will be higher but not that much higher unless the home is very expensive home. $1658 sounds like a million dollar home in a flood plain... or you are insuring a lot of jewelry.

You need to contact insurance AGENTS you can trust. If you are buying in a flood plain, you need REAL ADVICE. There's too many factors involved.

Let me know if you need a referral for an awesome insurance agent.

As for resell? Look at the other factors about the home. In some cases, it might not even be a 100 year flood plain anymore by the time you sell. You should get a discount on the home due to this and you should be able to pass the discount to someone else when you sell.

Georgia is not Florida. Not sure why the response would be relevant.

As somebody who lives in Flood prone Florida, that is extremely high for flood insurance.

Cathy,

Odds of the home flooding are slim, however with all the rain we've been getting who knows!!

I think you answerd your own question. The added expense of flood insurance will be a concern not only for you, but buyers who look at the home when you decide to sell.

It really depends on the house. If it's great and it's what you have been looking for then go for it! There are lots of homes classifed to be in 100/year flood plain.