Flood Zones and How They May Impact Your Home’s Value in the Future

Over the past several months, the issue of Flood Insurance has been raised more frequently in the Plymouth and Northville area due to recent changes in FEMA flood zone maps.  As a result, homes may now be in flood zones that weren’t previously.  If you plan to re-finance or purchase a home with a mortgage, lenders usually require flood insurance for homes in flood zones. So if your home is deemed to be in a flood zone, you may elect to challenge this by ordering your own elevation survey. The process is not simple or inexpensive, but it can save a significant amount of money in flood insurance over the long-term.  In addition, it will make your home more marketable when it comes time to sell.  As buyer, you need to know if the home you plan to buy is in a flood zone since this has will impact the price you are willing to pay. For more info, feel free to give me a call (734-272-8375) and I would be happy to discuss with you.