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Old 02-08-2017, 12:47 PM   #11
Chrisjs
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Join Date: Oct 2007
Posts: 1,121
Unless you are planning on giving up a house completely and living full time on your new boat, you should also consider the risk of flooding when selecting where to live. FEMA flood insurance policies can now be very expensive. Before we sold our Massachusetts waterfront home, we heard ridiculous quotes of $40-50K per $250K of coverage!!! While I understand there has been something of a moratorium in the North East (and there have not been any major East Coast storms/floods for a few years) I fully expect the FEMA rates to eventually go up substantially. Consequently our new home is 60ft above the flood plain!! While we did consider canal front real estate in Ft. Lauderdale at one time, it seems to me now that much of the Ft. Lauderdale properties must be in the flood plain??
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