Be Very Careful about Purchasing a Home in certain States, Cities and Towns
When it comes to purchasing a home we need to be very careful and do our home work when it comes to Fires & Floods.
Fires can be worse then Floods because most homes are completely destroyed vs a flood.
Sure everyone has home owners insurance but usually covers accessed value which can be approx. 75% of market value and or what a person could sell their home for.
Now I did here on the news with the Northern California fires that 9 electrical power lines had fallen from the winds which may have been a part of the source that created the fires.
So in this case home owners may be able to hire an attorney and sue PG&E of California which might bring in more of the full value after the attorney takes 35% of the settled case.
Please take note:
Nobody is making you purchase a home in dry areas of California where fires may destroy your home.
Nobody is making you purchase a home in a flood zone next to major rivers.
Nobody is making you purchase a home next to the ocean where storms can come in and completely destroy your home.
Nobody is making you purchase a home next to a major vault line that can either swallow up your home or shake it apart.
Nobody is making you purchase a home in Tornado Alley in Oklahoma or other areas that have been known to have tornado's ... The List goes on!
So think before you buy a home in areas of natural disaster, and I won't even mention all the lost lives from all the fires and floods of 2017 in the United States.
Do you really want to purchase a home where you might lose your home or possibly your life?