In the wake of the historic flooding that resulted in Vermont being declared a Federal Disaster Area many homeowners and buyers have been asking, “Is my house at risk of flooding?” There is no definitive answer to this question, however we have some resources available to help assess risk levels. Remember, though, water takes its own “path” and what may “not” be in a flood zone or high risk area right now could turn into one very quickly depending on the circumstances.
Houses may or may not require flood insurance. If you are financing your property with a mortgage lender then they have resources for you. Some lenders will require a flood insurance binder as a requirement of the loan. If you are purchasing with cash then flood insurance is not required as a condition of the sale, however, you should assess your risk and talk to your insurance agent.
The State of Vermont provides information on designated flood hazards and river corridors -- http://dec.vermont.gov and https://floodready.vermont.gov/assessment/vt_floodready_atlas.
FEMA also provides resources: https://msc.fema.gov/portal/home to do more research on your area.
Bottom line, if you are looking at a house and the street name is River Rd., Winooski St. (named after the Winooski River), Canal St., Streamside Dr., etc. then you should check out the resources above. Or, reach out directly and we will share our local knowledge regarding the historical data regarding natural disaster risk in your area.
If you want any further information or a detailed evaluation on any property in Vermont contact us to get started!