Home Buying in Quincy>Question Details

Patricia Pie…, Renter in Stoughton, MA

How risky is it to purchase a home on the island portion of Quincy?

Asked by Patricia Pierre, Stoughton, MA Sat Jul 13, 2013

The home is under 90k and already a contractor's special. Will insurance premiums be high due to the proximity of the water?

Help the community by answering this question:

Answers

4
You don't even have to be near the water to be in a flood zone now...that's where all the outrage is coming from
0 votes Thank Flag Link Sun Oct 6, 2013
Insurance premiums will be higher since you will have to carry flood insurance. Typically anywhere from 800.00 to 1500.00 per year depending upon which FEMA zone. You can call your insurance agent and get a quote for that particular address.
0 votes Thank Flag Link Wed Sep 18, 2013
Risky is defined by the person making the decision.
That is why they have disclaimers with investment ads on TV.

You need an insurance pro to answer your question.
Flood maps are changing and they are causing changes in insurance, building and repairing.
Educate yourself.




(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
0 votes Thank Flag Link Mon Jul 15, 2013
insurance premiums will only be high if it is in a high flood zone. There are flood maps that can show you this information.

Ask the building dept as to your concerns about the area and potential risks.

Better yet if you have a buyers broker, they should be earning their fee.
0 votes Thank Flag Link Sat Jul 13, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer