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Homes Near Water Can Add So Much Stress to Your Life
Pennygem
Follow
10/11/2024
Here are a few things you should consider before buying a home close to water. PennyGem’s Natasha Abellard has the story.
Category
📚
Learning
Transcript
Display full video transcript
00:00
If you're getting ready to buy a new home, you might be considering a nice waterfront
00:07
house or one in a coastal town.
00:10
Before you hand over your money and collect your keys, there are a few things you should
00:13
know.
00:14
According to Market Watch, knowing this information can save you from making a huge mistake.
00:19
To start, flood maps tend to be very outdated.
00:22
As a result, a property's flood zone probably does not include any recent flooding events.
00:27
And while you may have built a pretty good relationship with your realtor, a lot of times
00:31
they might not offer any flood advice.
00:33
It is also pretty hard to find out if your prospective home has ever been flooded.
00:37
In some states, there are no legal requirements for a seller to make potential buyers aware
00:42
of any major issues.
00:44
Money Talks News also recommends that you consider the maintenance costs of a waterfront
00:48
or coastal property before purchasing.
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