Before purchasing a property on the water, you should consider the weather and insurance. Living close to water could cost you a heck of a lot of money in flood insurance. Even if you don’t live directly on the water, being close to where it could possible flood also puts you at high risk.

Some real estate agents and buyers aren’t forthcoming about these things, so you must do your own research. To find out if the home you want to purchase is located in a flood zone, go to FEMA.gov.