TzarKazm t1_j5rcm10 wrote on January 25, 2023 at 12:45 AM

Reply to comment by Separate_Safe2779 in Buying a home in Warwick - extremely shady disclosure document by Separate_Safe2779

To give you an idea on flood insurance, I was looking at a house that was in a flood zone, so I got a quote for flood insurance: $6,600 a year. Which is never going to go down, and might go up.

Also flood insurance only covers a max of $250,000 in damage. If the house were a total loss, I would be out a lot of money.

I decided that having flood insurance be 25% of my mortgage payment was unacceptable. I could buy a lot more house with that money.

Mountain_Bill5743 t1_j5vyvo3 wrote on January 25, 2023 at 11:03 PM

It's wild. Also there's no telling if you buy adjacent that you won't get rezoned in a few years-- I know people in another state forced to get it nearly 30 years later when the last thing you'd expect is a cost of living hike at that age.