The property has a nice stream on it, however the stream is about 30 feet below the elevation of the home’s foundation. Just based off of how high the home is in situated in comparison to the rest of the area, it really looks like it would have to be a flood of biblical proportions for it to ever be in danger. The entire street that the house is on runs along the top of a pretty tall hill, which slopes down to the stream and then slopes back up to another very large hill on the opposite side of the stream. That is strictly my laymen’s observation, however.
According to FEMA’s maps, the stream is a narrow band of Zone A in the middle of an area that otherwise has little to no risk for flooding. In fact, I can’t find any evidence that there has ever been any flooding in the area. However, according to FEMA, the house is at the very edge of the band of Zone A. Here is an image showing the area and the home location.
The selling agent is telling us, however, that the current owners DO NOT have to pay flood insurance every month. They went through some process proving that it was not at risk of flooding and have not been required to carry it since. My agent wasn’t really sure about this and was going to look into it. While she did that, I figured I would check here as well. I’m very hesitant to buy into a home that is in a flood zone, but at the same time, this is pretty much our dream home and at a pretty competitive price for the area. Thank you for any advice that you can give me!