[LifeIsGood01]

Originally Posted by 399083453

LOL. Just because you dont personally see it, doesn't mean its not happening right next door to you.

..

In that case it's rampant everywhere in every town in every state.

[MrRational]

Originally Posted by LifeIsGood01

In that case it's rampant everywhere in every town in every state.

Nope. It just means that what IS there... isn't seen by everyone.
Even those who are actually looking for it.

[FLKitties]

Originally Posted by 399083453

Crime and drugs are terrible in Cape Coral.

Your house on the canal? It will flood on a regular basis and flood insurance will cost more than your mortgage.

.......... Enjoy.

Maybe you can elaborate on where your information is obtained from and what city you are using as a comparison to in relation to your statements? Have you ever lived in Cape Coral? Did you have a house on a canal? I certainly don't see crime and drugs everywhere in Cape Coral while out and about. I follow the news and it seems like most of the crime is related to stuff being taken from unlocked cars because some people forget we're not living in Mayberry. We have plenty of neighbors who live on the canals and I've not once heard them have flooding issues. Our home in Cape Coral is surrounded by canals and I've never seen water come over the banks. Usually the complaints are that the water levels in the canals are too low, especially during the dry season. And where does this flood insurance come into play? I doubt flood insurance for the year costs what a year's worth of mortgage payments will cost. Further, living on a canal (or even a lake) doesn't automatically make flood insurance mandatory for your property as there are plenty of waterfront properties that are not in a flood zone.

[Sunshine Rules]

A good portion of Cape Coral is located within FEMA flood zones, see the link to the maps below:

Flood Hazards in Unincorporated Lee County


Much of the same flood zone areas are also within potential storm surge areas as well. A lot of the flooding that comes with tropical systems is from the storm surge, not the rain.



If you purchase a home located within a designated FEMA flood zone and are obtaining a mortgage, the lender will require you to carry flood insurance coverage for the life of the loan. Period. If you purchase with cash, it is not obligatory.

Flood zone designations A, AE or V are considered flood zones. A does not have a base flood elevation completed, AE has base flood elevation information available. V zones are coastal high velocity zones.

Base Flood Elevations (BFE) are the key to the flood insurance rates. When looking at canal front lots, ask if the owner has a Base Flood Elevation (BFE) for the property, even if it is an older one. Then share that BFE with your insurance agent to get an idea as to what flood insurance rates will run you on the property. If you pay cash you are not required to carry flood insurance, but keep in mind if you decide to sell later on, all potential buyers that are doing financing will need to carry flood insurance for the life of the loan. So if the property comes with a hefty flood insurance rate, you could limit the number of potential buyers later on.


According to insurance statistics, a typical premium charged by the National Flood Insurance Program is running $935 per year, $1062 with surcharges. That is up 8% from the previous year. Keep in mind that the flood insurance rate for a particular property may be higher or lower, depending upon the BFE (base flood elevation) and year the home was built.



Before purchasing any property within FL but especially if it's located on a canal, it makes sense to find out if the property is located within a designated flood zone.

[FLKitties]

Originally Posted by Sunshine Rules

Before purchasing any property within FL but especially if it's located on a canal, it makes sense to find out if the property is located within a designated flood zone.

Yes, 100% agree. People can check a specific address against the FEMA Flood Map at https://msc.fema.gov/portal/home. Thanks for noting the typical premiums, too, Sunshine.

Not sure when the map on this site (https://connieconstruction.com/cape-coral-flood-zones) is from as there is no date associated with the page information, but you can see that there is actually a large area of the city that falls in Zone X for which flood insurance is not mandatory. I just looked up an address in the green Zone X area from that map which sits on a canal and according to http://www.capecoral.net/i_want_to1/...zone/index.php, it's designated as 2PACFH, the same as our home nearby that is not on a canal. This may help with the various designations and whether or not flood insurance is required: https://egov.capecoral.net/capeims/F...ignations.aspx

[Tonyafd]

Spend a couple of weeks there in early December before the snow birds go down. Get a feel for the area. What I've heard about Florida is that the salaries are lower than the North-East. Some people call it the Sun Tax. Check out the schools. Where they are and their quality.