Most people don’t think about their home flooding when they buy a home in an urban part of the city, but not checking to see if a home is in a flood zone is a big mistake.
U City Flood Zones:
University City homes located near the River Des Peres might be located in a flood zone. Driving by, you may not realize that these homes are in danger of flooding. However, spring flash floods have caused substantial damage for many University City homeowners in past years.
Take a look at this screen shot that shows some of the University City streets which are located in federally designated flood zones.
When a home is listed for sale through a real estate agent, there will almost always be a seller’s disclosure provided to the buyer identifying if a home is located in a flood zone.
However, buyers should not rely soley on the seller’s disclosure. The disclosure clearly states that the information provided is accurate to the best of the seller’s ability, but it is the buyer’s responsibility to thoroughly investigate anything that might impact the decision to purchase the property.
To check the flood zone status on a home, contact your lender or a title company and request a flood letter. The tax records available to real estate agents who are members of the St. Louis Association of Realtors also provide information on flood zone status. Contact me to look up the flood zone status on your home.
Should You Buy a Home in a Flood Zone?
If you can avoid it, I think it is a bad idea to purchase a home in a flood zone. You will be required to carry flood insurance in addition to homeowner’s insurance, and it can be very difficult to sell when you are ready to move on to a new home.
Plus, you might actually live through a flood which destroys much of your personal property and damaged the home!
At times, buyers will decide that they are willing to buy a home in a flood zone because they think the risk of flooding is low and they wouldn’t be able to afford a property with as many features or in such a nice neighborhood if it wasn’t in a flood zone.
Do you live in a flood zone?
Leave a comment below and share your experiences of living in a flood zone, needing flood insurance or trying to sell a home that is in a flood zone.