Thinking about buying some waterfront property. Any advice? - Boating & Fishing Information and Reports Forum

Prodigal Son · #1 (**permalink**) 09-13-2009, 01:17 PM

Got the plat, there is a chunk in floodzone AE, which means mandatory flood insurance if I build there, right? Is flood insurance only in order to secure financing on the house?

How about dredging issues...it is on a creek off of a creek, but there is currently enough water for the neighbors to have boat lifts on either side of the piece we're looking at. Beyond that I don't know the depth, and before I go much further I'm borrowing my buddy's outboard powered boat and I'm going "depth finding" on various tides. Assuming it has depth now, will it need maintenance periodically, or does that depend on the waterway? I know a buddy had a time getting all of his neighbors downstream to pitch in when it was time to dredge their creek, but their creek was a creek off of a creek off of a creek. (I call it a gut...but I don't know if that's a real term or a regional term.)

Any other thoughts?

FairWeather · #2 (**permalink**) 09-13-2009, 03:43 PM

Yes AE means you are required to have flood insurance and this is a requirement of whoever holds the mortgage. Typically flood is not that expensive $500 - $1000.00 annually is a safe bed & sometimes less. My house is in an ae zone and I play $357 year.

Where is the property?

blueh20pc · #3 (**permalink**) 09-13-2009, 08:31 PM

Quote:

Originally Posted by FairWeather

My house is in an ae zone and I play $357 year.

Where is the property?

Damn....357 a year? Good for you, bad for me. I pay way more than that.

Prodigal Son · #4 (**permalink**) 09-13-2009, 08:46 PM

Carrollton, VA. 3.8 acres on a tidal creek.

Looking at some land in the NE NC area, but the little lady refuses to have a long commute to school/residency.

captainmark · #5 (**permalink**) 09-14-2009, 07:28 AM

Great bass fishing territory! Also, not too far from Norfolk - love the Waterside Marina (next to Hooters) and the fireworks shows in Norfolk are awesome. You also have the Chesapeake to play in, what more could you want? Good luck with it.

FairWeather · #6 (**permalink**) 09-14-2009, 10:51 AM

Quote:

Originally Posted by blueh20pc

Damn....357 a year? Good for you, bad for me. I pay way more than that.

My guess is your ground floor is below base flood? If not that seems kind of odd.

Matt

bluffman2 · #7 (**permalink**) 09-14-2009, 05:39 PM

Ryan my only advice would be dont buy any in Arizona

good luck with getting what your looking for!!!!

blueh20pc · #8 (**permalink**) 09-14-2009, 09:52 PM

My mom and Evilgli live in Carollton. Pretty nice place.

blueh20pc · #9 (**permalink**) 09-14-2009, 09:54 PM

Quote:

Originally Posted by FairWeather

My guess is your ground floor is below base flood? If not that seems kind of odd.

Matt

Yeah, they got me with the revised flood plans two years ago. I'm 14' below flood plan. Just thought maybe you had a better insurer.

Prodigal Son · #10 (**permalink**) 09-14-2009, 10:09 PM

Nice enough area, and it is 13 minutes from where I grew up, but taxed at a much lower rate...

Crappy thing is that my great grandmother's old piece of land (which borders my parents land, and is 6 acres on a deep water river) is also currently for sale, but at $1.2 million, is about $1.0 million out of my price range.