[mdc1022]

Hello everybody
This manufactured home is in a flood zone.

it's in a park that has a low score risk for flooding 3 out of 10 score.

The park is 30 years old it's never had a major flood where homes have been totally destroyed by flood.
A couple of homes had some minor water issues when the hurricanes came through last year.

they were quite a few damaged with wind damage.

This home is almost half as much as some that I've seen that are not in a flood zone

I'm wondering if I should take the risk ?

it's in flood zone AE. This particular house is never flooded and has been in the park for about 20 years

We are cash buyers so we don't have to put flood insurance on it.

If we added flood insurance it will cost approximately $1,000 a year.

We were told if our house floods but the neighbors doesn't that they wouldn't pay the claim.

I'm wondering if it's worth the insurance or should we be walking away and not buying it.
Nay advice?

[LKJ1988]

4 times?

[Ghaati]

Originally Posted by mdc1022

Hello everybody
This manufactured home is in a flood zone.

it's in a park that has a low score risk for flooding 3 out of 10 score.

The park is 30 years old it's never had a major flood where homes have been totally destroyed by flood.
A couple of homes had some minor water issues when the hurricanes came through last year.

they were quite a few damaged with wind damage.

This home is almost half as much as some that I've seen that are not in a flood zone

I'm wondering if I should take the risk ?

it's in flood zone AE. This particular house is never flooded and has been in the park for about 20 years

We are cash buyers so we don't have to put flood insurance on it.

If we added flood insurance it will cost approximately $1,000 a year.

We were told if our house floods but the neighbors doesn't that they wouldn't pay the claim.

I'm wondering if it's worth the insurance or should we be walking away and not buying it.
Nay advice?

Question: what makes you think that buying a mobile home in a trailer park that's sitting on a depressed flood plain, in a park that HAS had flooding in the past year, and not getting flood insurance - is a GOOD idea?

Maybe answer that question and you'll have the answer to your original question.

[gypsychic]

Originally Posted by Ghaati

Question: what makes you think that buying a mobile home in a trailer park that's sitting on a depressed flood plain, in a park that HAS had flooding in the past year, and not getting flood insurance - is a GOOD idea?

Maybe answer that question and you'll have the answer to your original question.

What he/she said ^^^.

[Variable]

If it's in Sarasota County, some FEMA flood maps are set to change, with effective date March 2024.

Regardless if you have flood insurance or not, check what the min Base Flood Elevation (BFE) above sea level is. The FEMA flood map would have this info. If the home is damaged in the future(whether flood or fire or wind) and if you repair the home by greater than 50% of the home's value, then the elevation of 1st floor must meet new code. In many areas, this is now BFE + 1 foot. Same if you get a new home for the site - must be raised, as needed, to meet the flood zone elevation rules. Perhaps the home is high enough in elevation currently that it is already at or ABOVE the required BFE now. An elevation certificate (local surveyers do these) would tell you this elevation info...it gives the FEMA required min elevation (BFE) as well as what is the actual elevation for that home(elevation above sea level for bottom of the 1st floor of living area)

Could be a non-issue or could be that the home would need to be raised by 2 or 3ft. All this depends on the FEMA mandated BFE for that home. FEMA, and the county, has a web site where you can plug in the home address to get the FEMA required BFE

Could be worth the risk if the price is right and if flooding is not common in that park. I had a home in same flood zone as you and it never flooded and never came close to flooding, and none in the area ever flooded in many decades, even after direct hits by hurricanes.

If your quoted flood insurance is $1000/year, then it might already be at or above FEMA's min required elevation. If you got a flood insurance quote, then there must be an elevation certificate already

[Racer46]

Originally Posted by mdc1022

Hello everybody
This manufactured home is in a flood zone.

it's in a park that has a low score risk for flooding 3 out of 10 score.

The park is 30 years old it's never had a major flood where homes have been totally destroyed by flood.
A couple of homes had some minor water issues when the hurricanes came through last year.

they were quite a few damaged with wind damage.

This home is almost half as much as some that I've seen that are not in a flood zone

I'm wondering if I should take the risk ?

it's in flood zone AE. This particular house is never flooded and has been in the park for about 20 years

We are cash buyers so we don't have to put flood insurance on it.

If we added flood insurance it will cost approximately $1,000 a year.

We were told if our house floods but the neighbors doesn't that they wouldn't pay the claim.

I'm wondering if it's worth the insurance or should we be walking away and not buying it.
Nay advice?

I have a friend in a Park like you mention and the only damage from flooding was a couple of homes near a big pond. Nothing near the water of the river. The cities flood likelihood is very large and many hones were severely damaged in the last hurricane. However the Park is in an X zone, unlike the rest of the city, so not a major issue there. Check flood zone maps for the entire area where you could live, not just an overall one.

[Lillie767]

An increasing number of people in Florida are going bare with regard to insurance due to the high costs.

[JBtwinz]

You have to decide what is best for you and not what we think (I don’t mean to sound harsh).

Insurance is a gamble you are betting with or against the odds you will need it. We live in an X Zone on a barrier island a block back from the beach. The distance to actually touch water from our house though is several thousand feet.
In 1964 there was a destructive hurricane here that took out and entire street and sugar shacks on the north end of the island. Sixty years later no hurricanes have even come close to that storm or hit our area.

We pay $1100 a year for flood insurance……will we ever use it? Probably not but I am not going to take that one in a million chance.

Weather patterns have been changing, Ian was the perfect storm with timing as far as tides and ferocity.

[kyle19125]

OP, if able I would highly recommend investing the $85 per month cost for some peace of mind. FL is seeing unprecedented flooding in areas not seen prior and while your area could be low risk now, in a couple of years that could change under the right circumstance.

[logybogy]

Get the flood insurance. You'd be foolish not to for $1k. Oftentimes, homes not even in flood zones will flood if there is a change in the environment. For example, a vacant wooded lot is bulldozed for new development and they don't construct enough retention ponds and all the runoff gets dumped into neighboring homes that never flooded before.