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Post by michaeladkins on Jul 11, 2015 16:18:40 GMT -5
My wife and I are looking at some recreation land that is located in a flood plain. I can't imagine the land will appreciate as much as land that is not in a flood plain, but should appreciate some. I would think anyway.
Does anyone know if I would be able to a primitive cabin on that land? I have heard insurance would be ridiculous if I chose to build anything worth anything.
Any thoughts on land in flood plain would be appreciated!
Thanks.
Mike
put
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Post by jimstc on Jul 11, 2015 17:18:18 GMT -5
I own and farm flood plain land. According to my understanding which is often wrong, flood insurance is a Federal program and is not covered by your homeowner's insurance. You have to buy it separately.
You should build on stilts or raise your building spot considerably with dirt. Good source of dirt is to dig a pond. Not cheap unless you do it yourself, but a pond is a good flood water deflector/accumulator. The amount and height of the flood waters are the key to your questions.
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Post by nfalls116 on Jul 11, 2015 17:30:22 GMT -5
What's the actual flood risk associated with the ground in question?
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Post by michaeladkins on Jul 11, 2015 17:44:40 GMT -5
There is nothing on the land except trees and a creek. It is also a classified forest, which is good. What kind of insurance would I need if I don't plan on building anything on it and just use it for hunting?
Thanks.
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Post by nfalls116 on Jul 11, 2015 18:30:31 GMT -5
How old is the forrest? When is it available for harvest? I am no expert but I think I would find out how much timber insurance would be It would be pretty advisable to maybe get ahold of a farm bureau or such that handles that kind of stuff to help guide you through
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Post by MuzzleLoader on Jul 11, 2015 19:02:01 GMT -5
Few years back , the Feds reclassified flood plain maps and put a portion of my barn in it on the new maps. It was an absolute mess getting it surveyed and back out of flood plain. It never was in flood plain. But goverment said it was and we had to buy flood insurance. took along time to straighten it out. I would really do some thinking/investigating with intentions of a cabin on it.
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Post by michaeladkins on Jul 11, 2015 20:04:50 GMT -5
How old is the forrest? When is it available for harvest? I am no expert but I think I would find out how much timber insurance would be It would be pretty advisable to maybe get ahold of a farm bureau or such that handles that kind of stuff to help guide you through I don't enough about the property yet. I have a call into my agent to find everything out, it's just going slowly. Right now the only thing I would put on the land would be an tent from time to time. Lol. We don't have an rv... Yet |
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Post by duff on Jul 11, 2015 20:48:17 GMT -5
If you own it outright you don't have to have any insurance. That is a requirement for getting a loan and flood plane land would be hard to get a loan. If you have any structure with value it is good to have insurance.
The classified forest rules may prevent the structure
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Post by swilk on Jul 11, 2015 21:31:27 GMT -5
I think the classified forest does prevent building on it.....but, you could survey and chunk out a little bit for the structure. I think you just pay 10 years worth of tax estimate on the chunk.
If you build do your homework.... Figure out historic levels and build higher. Also observe some floods and see how the water flows and where debri goes.....
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Post by freedomhunter on Jul 12, 2015 7:13:12 GMT -5
You would need to obtain a permit to build in a floodway. You also need a permit to excavate in a floodway if constructing a pond. I think an rv or cheap trailer would be the easiest thing considering they don't have a permanent foundation. You could end up getting cited and fined otherwise and worse case have to remove it.
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Post by duff on Jul 12, 2015 7:39:22 GMT -5
My wife and I are looking at some recreation land that is located in a flood plain. I can't imagine the land will appreciate as much as land that is not in a flood plain, but should appreciate some. I would think anyway. Does anyone know if I would be able to a primitive cabin on that land? I have heard insurance would be ridiculous if I chose to build anything worth anything. Any thoughts on land in flood plain would be appreciated! Thanks. Mike put They are not making any more of it. Ask the guys who bought flood areas and then had the WRP provram build wetlands for them. These were bought in early 2000's for 500/acre or less. I know one person who sold some for 2x what he paid for it not more than 5 years later. When I lived in Parke county there was several hundred acres across the.wabash from my house that was selling for $600/acre. It was all flood plane. If I had ability too back then I would have...state owns it now as part of the new land. If the price is.right.and the.property meets your idea of recreation I say go for it. Just don't overpay that way you can sell it if needed. I'd also look at timber mgmt. That may help pay for it if applicable. |
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Post by featherduster on Jul 12, 2015 8:53:44 GMT -5
Ask WOODMASTER about building on a flood plain,maybe WOODY can post the before and after photos of their deer camp.
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Post by michaeladkins on Jul 12, 2015 9:16:47 GMT -5
Oh no... Is this a been there, done that moment??? Lol
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Post by swilk on Jul 12, 2015 14:46:59 GMT -5
He didn't build high enough....and it bit him in the first year.
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Post by Jamie Brooks 1John5:13 on Jul 13, 2015 13:08:27 GMT -5
One thing for sure, if you could build on it, flood ins. would be extremely expensive. It might be good for hunting.
What if you wanted to turn it into marshy land for migrating bird habitat? You can always pull down a camper. Feds might be willing to help you out??? I don't know, but look deeply into every avenue.
What would be wrong with just putting up elevated blinds and pulling a trailer?
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Post by voodoofire1 on Jul 14, 2015 22:01:09 GMT -5
I own land and live along a floodplain, we own it outright too, it's along the Salamonie river and it's flooded as we speak,I don't mind it really as I was brought up living along the Mississinewa river and it flooded like this quite frequently,it makes life kinda interesting too. I checked into flood insurance, the amount of hassle, cost, and regulations you have to abide by to have it is unbelievable! a small motorhome, trailer, or even a tent would save you tons of hassle and money.... but before you do anything, as suggested above, check the flood rate, water level and water flow.....I truly love living here, it's worth the occasional flooding hassle, I'll never sell it, and I'll never leave this place till I'm dead, it's my home and I couldn't imagine liking anywhere else as much as this place!
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