As Kelly suggested, flood insurance can add a litte exta expense to owning a home and can be a deal breaker.
Here in Flordia, a homeonwer paid for 2013 coverage, $1,200 for flood insurance.
The 2014 flood insurance arrived the beginning of September for a whopping $46,000!
The montly insurance premium, $3,834, dwarfs the morgtage payment.
Unless you can pay cash, be self-insured, or trust those DC dolts and insurance companies to do the right thing, at this time, choosing "HIGH AND DRY' would be a good choice. Don't think for a mintue this is only a Florida issue.
Kelly Gebler, Principal Broker/Owner
Cornerstone Group NW