Flood Zone A9, Lincoln Park, NJ (Wayne, Oakland: insurance, how much, buying a home)

[mrahman]

I am thinking of purchasing a house in Lincoln Park, NJ. Per FEMA's site the property is in A9 Flood zone. Has anyone lived in this area? Any suggestion is much appreciated. Thanks in advance.

Mahmood

[USER876]

Which area..... Off comly?

[marye711]

what street

[LCMT]

Be careful....had a friend who lived in Lincoln park....in really bad storms she couldn't even get home, roads were flooded trying to get into the town. I heard the state/town is trying to buy up the homes along the river and knock them down. I personally wouldn't buy a home in a flood zone no matter how good the deal. Nothing is worse than having your property destroyed, not being able to get to your home, mold and your investment being a low resale value.

Best websites to research before buying a home in NJ

[MaverickDD]

You're using engineering terminology to get answers from the general population. That probably won't work here. I have no idea what A9 means, and I suspect that no one else posting here knows what it means either.

That said, we CAN answer your questions about how often certain neighborhoods flood. The house you're looking at... well, it all depends on the specific street address. Some parts of Lincoln Park are technically in a flood zone but rarely flood. Other parts incur flash floods quite frequently.

I have relatives on Ryerson. The only time they've seen water in the past 100 years was in 1984. Yes, they had the insurance and they repaired after the flood. Yes, it was a huge pain in the neck.

But they initially bought the house for about one-third less than what a non-flood house would have cost them. If you'd care to save $100K or more for the risk of getting flooded once every hundred years, a similar deal could be for you.

Close to the river, your flood risk tends to increase. (Some of those houses flood every five to ten years.) However, prices decrease. Like most things in life, it's a trade-off.

The majority of homes in Lincoln Park never flood. However, plenty of homes in Lincoln Park occasionally do! You'd be wise to be cautious and research the specific property you're considering. Then determine how much you're willing to pay for that risk. If you can buy a $400,000 home for $250,000 is it worth the risk to you? Maybe, maybe not.

(Personally, I wouldn't live in a 5 or 10 year flood zone. That's above my comfort level. But if money was tight, I'd consider buying in the hundred year zone. There, I'd be less concerned about the flood possibility than I'd be about Lincoln Park's high school plan -- bussing the teenagers all the way to Boonton High School, but that's a topic for another thread.)

[armx]

Mahmood:

Obviously, you have looked at the FEMA map for the area to Know it is A9.

If you want to make a wise investment, get an Elevation Certificate for the property from a Professional Engineer or a Prof. Land Surveyor. That will establish what the projected flood elevation is and what are the elevations - ask them specifically that they must collect that info. about elevations or grades and depict on a plan or a worksheet to scale - for you on the property you intend to purchase.

They cannot tell you the probability of flooding but you can "guesstimate" how much risk you are taking knowing that info.

That cert. should cost less than $1000. I am a professional Engineer in another state so I cannot tell you exactly how much it should cost in NJ.

[USER876]

Also, ask the previous owner how many times the house was hit and how much water was in it. This won't give you an idea of the streets surounding the house though which can flood more often than your house.

[NJ07035]

Rather than 'A9' - what is the street here in town you are looking at for a new home?

As was posted here, there are a grat number of streets that as classified 'flood zone' but have never flooded. My in-laws lived on South Valley Rd from the early 60s until 1995, and never had one drop of water - including 1984.

Entering LP via 202 from Mountain View can be bad in a flood since it crosses the river 9duh), but you can get in and out of town otherwise.

And LCMT - that same buyout program is going on in Wayne, Oakland, Pompton lakes and many other towns in the region. it is not Lincoln Park-specific. Also, these homes are pretty much on the river, and represent the smallest fraction of the town as a whole.

[tallguylehigh]

I'm sorry, but flood zone = no buy to me.

It could be an A9, it could be a B23 (made that up), it could be a once in a century flood zone, but the fact of the matter is, it has that stigma of being in a flood zone.

It's like being a little pregnant- it doesn't work.

So if you buy that house, when you go to sell, you are going to have to find a buyer that is willing to overlook the same MAJOR thing you did to buy the house.

You can change the house, but you cant change the location, and being in a flood zone isn't the place to be.

[armx]

To avoid speculation as described by tallguy, is why the Elev. Certificate is the key document. That document is permanent information that can be kept with the deed for the house, to be able tell the next buyer, or Mortgg. Co. that is making you buy unnecessary flood insurance and so on. If it confirms that the house is in the flood plain then there is the proof in the pudding and you can walk away from the house.

FEMA maps by very nature are not very accurate.