Do you guys worry about flooding? (Naples, Immokalee: rent, insurance, condo)

[coolcats]

I have an investment condo in a city up north. I’m seriously considering selling it and buying a place in SW Florida where I could rent it seasonally and use part of the year myself.

My one hold up is with flooding from either storms or eventual sea level rise. How do you all deal with that?

[Corrie22]

...sea level rise is about 3mm/yr.....buy something a least a foot above sea level

https://tidesandcurrents.noaa.gov/sl..._meantrend.png

[markjames68]

Since you’re posting in the Naples forum look at Hurricane Irma in 2017 and the aftermath.

Irma made landfall as a Cat 3 but the storm surge wasn’t as bad as anticipated. My home off of Immokalee Rd east of 75 was built on fill, around 25’ or so above sea level. Not even in a flood zone, and there was no risk of flooding.

There were some damaged mobile homes in Everglades City but Naples overall was minimally affected except for a lot of tree, roof and lanai screen damage.

I believe Irma was the first storm of its type/strength to hit the SWFL coast since Donna in 1960.

If you buy in Naples Park then there is more risk, but anything new is likely to be further inland and in Zone X - again, due to how they plan out communities and using fill to raise lots up.

And if you’d be buying a condo, I wouldn’t worry about it.

[Marysa Butzke]

Anywhere can Flood in SWFL, if you have enough surge and additional torrential rain for days - anything is possible - it's about weather !

[logybogy]

If you are concerned with flooding, buy a new or newer property that is elevated under the new building codes and flood insurance guidelines or better yet buy somewhere outside a flood zone. It's pretty simple actually.

[DestinationNaples]

We live East of 75 in a new development, located in FEMA Zone X, that has been elevated so that flood insurance is not required by lenders. However, I decided to purchase insurance anyway. I am not worried about ocean surge but i am worried about storms like those that have stalled over the Houston area for several days and have dropped 30+ inches of rain. The modest cost of the insurance (less than $500 per year) provides me with peace of mind.

[wjj]

Originally Posted by DestinationNaples

We live East of 75 in a new development, located in FEMA Zone X, that has been elevated so that flood insurance is not required by lenders. However, I decided to purchase insurance anyway. I am not worried about ocean surge but i am worried about storms like those that have stalled over the Houston area for several days and have dropped 30+ inches of rain. The modest cost of the insurance (less than $500 per year) provides me with peace of mind.

Totally agree.


FEMA states that 20% of all flood claims and one third of flood assistance go to properties in low risk flood zones like Zone X. I also am east of 75 and in Zone X but have flood coverage (in Gateway, not Naples). It is not the storm surge that is the issue, it is flooding from all of the small lakes, retention ponds, and flow ways from large rain events. Two weeks prior to Irma hitting, we had a deluge that caused some street flooding and then Irma dumped on top of that. My community flooded but the water did not get into any structures (water was two thirds of the way up my driveway and about a foot from my lanai). But two communities across the road just a few hundred feet away did flood inside homes. All it takes is for one weir down stream to get clogged and everything behind it starts to flood.


Small price to pay to insure against what could be a large loss.

[coolcats]

Thanks everyone. I do think I will get flood insurance. I've told my agent specifically to only show me places in low-risk areas, but getting a little peace of mind is worth it.

[wjj]

Originally Posted by coolcats

Thanks everyone. I do think I will get flood insurance. I've told my agent specifically to only show me places in low-risk areas, but getting a little peace of mind is worth it.

When you are searching, don't limit yourself to the FEMA policies. They are limited in what they cover and are capped as to coverage amount. There are private insurers that offer far more coverage for a lower rate. I switched to Lloyds a few years ago and got far better coverage for hundreds of dollars less than my former FEMA policy.

[Marc Middleton]

Originally Posted by coolcats

Thanks everyone. I do think I will get flood insurance. I've told my agent specifically to only show me places in low-risk areas, but getting a little peace of mind is worth it.

Don't move to SW FL and base your search on Flooding. Its rare and you'll end up being in a location you don't love.

Also - flood insurance covers 'water intrusion', its not limited to hurricanes. Bad hurricanes are more rare compared to just a bad storm that lingers and can cause flooding. For condo owners, its good to have because it covers a problem in another unit that leaks into yours!