Buying in a Flood Plain?

[Chili]

The main difference is that Oklahoma has a state income tax. But the property taxes are so much lower that is probably a wash.

Besides, it sounds like at least for the time being he wouldn't be living / working there, so the income tax isn't even a factor but he gets the benefit of the lower property taxes.

[lincolnboy]

Is flood insurance much more money? We are selling our house(thanks recent tornado) and the buyers lender says we are in a flood plain and insurance will be ALOT. my wife bought this house before we got together and she says she doesnt have flood insurance coverage

[Ruffdaddy]

Is flood insurance much more money? We are selling our house(thanks recent tornado) and the buyers lender says we are in a flood plain and insurance will be ALOT. my wife bought this house before we got together and she says she doesnt have flood insurance coverage

No clue. Just get some quotes and find out

[lincolnboy]

Is insurance provider suppose to inform you that your in a flood plain?

[LS1Goat]

Is insurance provider suppose to inform you that your in a flood plain?

No.

Your lender will require you to purchase flood insurance if you live in an established high risk flood area.

Apparently, this is not the case for you. So, that simply means at the time she bought the house it wasn't on the map.

[bcoop]

That's not too bad given the savings on the land...but seeing your response just reminded me to look in South Oklahoma...i believe you said you have land there...

Is there any reason not to buy in Oklahoma over texas? It seems I can get a lot more land for the same price within the same driving distance.

Late response to this, but we're kind of central OK. 50 miles due east of Norman. State income tax would be the main reason, but that wouldn't stop me if it wasn't a primary residence. I can't think of any other reason not to. There is a LOT of beautiful land up there. You can definitely get a lot more for your money up there, but land is increasing up there now due to the whole medical cannabis thing.

[bcoop]

That's not too bad given the savings on the land...but seeing your response just reminded me to look in South Oklahoma...i believe you said you have land there...

Is there any reason not to buy in Oklahoma over texas? It seems I can get a lot more land for the same price within the same driving distance.

Late response to this, but we're kind of central OK. 50 miles due east of Norman. State income tax would be the main reason, but that wouldn't stop me if it wasn't a primary residence. I can't think of any other reason not to. There is a LOT of beautiful land up there. You can definitely get a lot more for your money up there, but land is increasing up there now due to the whole medical cannabis thing.

[txstangnut]

You can look on FEMA maps I think and see if you are in a flood plain.

Had a buddy that dropped his flood insurance that was only 450 a year and it almost cost him when Kingwood flooded. His house missed flooding by 1.5ft in elevation and within 1 block.

If you need it get it

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[txstangnut]

You can look on FEMA maps I think and see if you are in a flood plain.

Had a buddy that dropped his flood insurance that was only 450 a year and it almost cost him when Kingwood flooded. His house missed flooding by 1.5ft in elevation and within 1 block.

If you need it get it

Sent from my LM-G710 using Tapatalk

[Gasser64]

I'm in a flood plain. To my knowledge it didn't flood last century or this one. At least not while any houses were here. Insurance is a bit more expensive, that's about it.

[lincolnboy]

I'm in a flood plain. To my knowledge it didn't flood last century or this one. At least not while any houses were here. Insurance is a bit more expensive, that's about it.

Do you have flood insurance? How much a year?