Check The Flood Zone Rating
This is perhaps the most important thing you can do when looking at waterfront homes, and can mean the difference between a $120,000 home, and a $120,000 home with an addition $24,000 every year for mandatory flood insurance coverage. In addition to the required standard home insurance, there is a separate flood insurance policy which may also be required depending on the area. If a home is in what the Federal Emergency Management Agency (FEMA) has designated a high risk flood area, that means any federally approved mortgage cannot be granted without taking out a flood insurance policy. The insurance policy may be quite significant. This won’t be an issue for wealthier home buyers, but for people for whom this is their first or only home, the addition of an insurance policy potentially $10000 or more every year is a dramatic increase that may severely affect the appeal of a home.
If high flood insurance payments are going to be an issue for you, always check to see what the flood zone rating is on ANY Orlando waterfront homes that you are interested in.
Investigate The Utilities Infrastructure
Depending on whether a home is part of the main Orlando metropolitan area, or in a more isolated, rural portion of the region, the differences in how utilities are arranged will vary greatly. Don’t assume that every home will be connected to a sewer line, or that you’ll be able to have natural gas pumped into your stove. Some areas may require the use of a septic tank system, while others may have no natural gas connection and require an electric stove. And if you can’t work with anything less than a high speed cable or DSL Internet connection, make sure you diligently look at the Internet service providers in the area to see what services are actually available.
If issues such as direct sewage line access, being able to utilize natural gas, or download Gigabytes worth of music and high definition videos quickly are important issues for you and the quality of your home life, always inquire about utilities infrastructure in your area of interest. If they don’t meet your requirements you’ll simply have to readjust your expectations, or else find an alternative area.