Each home elevation project is unique. One of the first factors in deciding whether or not to raise your home is to run a cost analysis between the Increase in Flood Insurance (if you do not elevate your home) vs. the cost of elevating to become FEMA compliant with your BFE.
Many factors go into deciding on whether to elevate your home; and if you do decide to elevate, there are many more feasibility, planning, design and budget decisions to be made.
Flood hazard maps or Flood Insurance Rates Maps (FIRM’s) have been created to show different degrees of risk for communities; which helps determine the cost of flood insurance. The lower the degree of risk, the lower the flood insurance premium.
FEMA defines these High Risk Areas, or Special Flood Hazard Areas (SFHA) as areas in which there is at least a 1 in 4 chance of flooding during a 30-year mortgage. All homes and businesses in these areas with mortgages from federally regulated or insured lenders are required to buy flood insurance. They are shown on the flood maps as A and V zones.
If you are considering elevating your home at some point in the future, please do not hesitate to contact us and we can provide you with an assessment of your home; as well as an overview of all that is involved (from soil test, to engineering / foundation plan, to planning, budgeting, permitting, construction, etc) and complete estimate for entire Home Elevation Project.