The Term Floodplain Explained

The Term Floodplain Explained

Perhaps the most unpredictable and one of the more devastating natural occurrences, water.

Water makes up most of the earth, of our bodies, of our life. It is our most precious resource, but it has been known to be the source of major catastrophes. 

Just because you don’t live near the ocean doesn’t mean you are excluded from flooding. It is imperative to research where the home you’re interested in buying is located on the Floodpllain map provided by FEMA so you can be prepared. If a home is located in the floodplain it should be noted on the Sellers Property Disclosure provided by the Seller in the transaction.  If you haven’t seen that document, ask for it.  It’s often attached to the listing in the MLS so your agent you should have access to it.

If you find the home of your dreams but find out it’s located right smack dab in the middle of a treacherous floodplain, you may consider finding another dream home, and you might not! 

There are absolutely beautiful homes built on oceans, rivers and lakes, but the cost of living in these areas might be more than just the property itself.  If you’re obtaining a loan for the home your lender will likely require flood insurance.

Just because you’re not close to a body of water, doesn’t mean you’re in the clear either. Water always finds a way to get through cities, so you will want to check out in order to see where your home lands on the map. 

If you’ve got more questions about buying property in Northwest Arkansas, ask me! I will do my best to answer any questions you have!

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