Looking at buying a new home, that small stream at the rear of the property may be the selling feature and the most appealing point as you consider making an offer. What you may not realize is that many of these small streams have been re-categorized by FEMA as potential flood zones. Flood zones are areas with the potential to flood in a manner that would affect your home, this in turn affects your insurance and the premium you will have to pay. Homes in flood zones that are being purchased through a mortgage company must have a separate flood policy which can cost a lot of money depending on the severity of the potential flooding. Check with your insurance agent before making your offer !
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