One of the most talked-about real estate in Calgary right now is the release of riverfront lots in Roxboro along the Elbow River. These parcels were originally home to properties that were purchased by the province after the 2013 flood, when significant portions of the community were impacted.Today, these same lots are being reintroduced to the market, offering rare inner-city riverfront opportunities. While the location and lifestyle are undeniably attractive, it's important for buyers to understand the history behind these properties.
Purchasing in a flood-prone area does require a higher level of due diligence, including understanding flood mitigation work completed, insurance availability, and long-term risk tolerance.
These Roxboro lots are a perfect example of requiring informed decision making before purchasing a premium location because of the flood risks .
Should You Buy in a Flood Zone? Here’s What You Need to Know
Buying a home is already a big decision but when a property is located in a flood zone, it adds another layer of risk, opportunity, and strategy.
What Is a Flood Zone?
A flood zone is an area identified as having a higher risk of flooding, typically based on historical data and environmental studies.
In Calgary, this became a major topic after the 2013 flood, which impacted many river-adjacent communities like Mission, Elbow Park, and parts of the inner city.
The Pros of Buying in a Flood Zone
1. Access to Rare, Highly Sought-After Locations
Flood zone properties are often found in some of Calgary’s most desirable inner-city areas, where inventory is extremely limited. For some buyers, the opportunity to own in these locations outweighs the added risk, which is why these properties can still attract strong interest and bidding activity.
2. Location, Location, Location
Many flood zone properties are in some of Calgary’s most desirable neighbourhoods. Think mature trees, walkability, and character homes.
3. Improved Flood Mitigation
Since 2013, Calgary has invested heavily in flood mitigation—berms, barriers, and upgraded infrastructure. These improvements have increased confidence in many river-adjacent communities and are part of why buyers continue to see value in these locations.
The Risks You Need to Understand
1. Insurance Limitations
Not all insurance policies cover overland flooding. Some properties may have higher premiums—or limited coverage options altogether.
2. Resale Challenges
When it comes time to sell, your buyer pool may be smaller. Some buyers will automatically avoid flood zones, regardless of price.
3. Financing Considerations
Certain lenders may have stricter requirements depending on the property’s flood designation.
4. Emotional Risk
Even with mitigation, there’s always that “what if” factor. For some buyers, that peace of mind matters more than the price.
If you’re considering buying in a flood zone, here’s how to approach it strategically:
• Review the flood maps carefully (not all flood zones are equal—some are higher risk than others)
• Understand the property’s history (Was it affected in 2013? Was it remediated properly?)
• Get insurance quotes upfront
• Factor whether being in the flood zone will affect resale
My Take as a Realtor
I believe you can find a beautiful property in a flood zone—but it’s not for everyone. It ultimately comes down to your risk tolerance. If you’re a buyer who values location and understands the trade-offs, it can be a great purchase. But if you’re more risk-averse, it’s worth taking a step back.