Received my new Flood Insurance bill today (rent, vacation home)

[SJNE17]

I'm guessing a lot of folks will ultimately have to self-insure, willingly or unwillingly.

If I was living in PGI now and was within a decade or so of my expected lifespan, and FEMA upped the BFE materially to the point where flood ins. was unobtainable (economically or practically), assuming I didn't have a mortgage I think I'd extend my middle finger in FEMA's general direction.

[sware2cod]

Originally Posted by fiege1224

You have quoted just what I own. What I worry about is if our street floods bad I will be the only house on the street that will be ok. I have to hope they will rebuild up other wise the whole street could become empty. Those houses are all very old and in great shape but FEMA would make them build up to get paid. The home on my lot was a knock down to build mine. The others would most likely have to do the same and it costs a lot more.

It's not only FEMA that requires new homes to be built with higher elevation. The county/city also requires new homes to be built to current FEMA elevation requirement. Same for existing homes with major renovations with renovation costs >50% of current value of home. Even if you aren't going to get flood insurance. They won't approve the permit if the home doesn't meet minimum elevation.

Don't worry about the other lots being empty. #1, you'd probably like it. But #2, those lots would get new homes pretty quickly. After all, it's prime coastal area.

[krnfitz]

Well the home we were curious about is on a 9' and 10' BFE lot. We have now seen the Elevation Certificate. Top of bottom floor is 8'9". Lowest adjacent finished grade is 7'6". Realtor says "grandfathered in" flood quote is $1300 and a non- grandfathered in is $5,000.00.

So as a potential buyer, this just rendered this house a tear down for me. Even if I'm willing to pay cash and not have financing, to resell I would have to find another 100% cash buyer. That eliminates a lot of potential buyers and I'm not willing to do that.

The idea of building what is essentially an elevated stilt type house but camouflaging it to look like a regular 2 story house is a new one on me. I'll have to think about it. We've looked elsewhere in Fl. where we would be building 12'-14' elevated but w/a more typical "Key West" style look to it.

What is the limit to fill/go w/a stem wall? At 7' 6" if you could go up 5' - not a huge amount then you could be at 12' and maybe be safe. For a while. When the word gets out this is going to have a huge negative effect on the coastal real estate market. It has on us and I've dreamed on being on some kind of Florida water for 30 + years.

[SJNE17]

Bummer. what city?

We're looking at a BFE 10' home in PGI.

Am thinking of getting elevation cert., but typically that has to be acceptable to seller for someone to get in there. I'd rather spend the money 1st before making an offer.

What's a typical elevation cert cost down there?

Can you explain what you mean by "grandfathered" vs. "non-grandfathered"?

[sware2cod]

Originally Posted by krnfitz

The idea of building what is essentially an elevated stilt type house but camouflaging it to look like a regular 2 story house is a new one on me.

They aren't built on stilts/piers unless in V zones. The ones in A zones are built on solid exterior walls made of concrete block, just like other homes. There's no camouflaging. Normal windows and doors on lower level. There are lots of these homes around.

It really is a 2 story...but the INTERIOR of the bottom story doesnt have drywall or carpeting. You can actually put waterproof flooring and waterproof walls on the lower floor. And a drywall ceiling because the ceiling would be high enough above BFE. The tricky part is plumbing and electrical on the lower floor. The electrical sockets must be above BFE and the plumbing must be also. Not the closed drain/water pipes, but the drains.

The whole deal with the lower story is it has to be built to withstand a flood...waterproof material. Also there are small vent openings that have to be on lower floor to allow flood water to enter and exit. You can screen them. The whole idea is so water pressure doesn't knock down the home. The vents allow water to flow through so the structure doesn't get compromised by rushing water.

[sware2cod]

Originally Posted by SJNE17

Can you explain what you mean by "grandfathered" vs. "non-grandfathered"?

Grandfathered means homes that are usually older that are currently below BFE (Base FLood Elevation), but when they were built, they weren't below BFE. FEMA allowed these to be grandfathered with lower flood insurance rates. The insurance premium is artifically lower for these grandfathered homes. These are the subsidized insurance policies you hear about.

However, grandfathering is going away. If you buy a home that is subsidized/grandfathered for the current owner, the new owner doesn't get ANY subsidy and must pay full flood insurance rate. When the home is below BFE, the difference between subsidized rate and non-subsidized rate is drastic.

[krnfitz]

It was my understanding that the "grandfathered" status would NOT apply to a new buyer.

Are there any publicly accessible documents that will show the elevation of a particular lot? A map maybe? It is going to be very labor intensive to find a lot or a house and then after the fact check into the elevation. Would be easier as a buyer to be able to identify those lots/houses that are 10' or higher on the front end.

The home we were looking at is in BSI.

[Harbor Hopper]

Originally Posted by krnfitz

Are there any publicly accessible documents that will show the elevation of a particular lot? A map maybe?

Don't think so. Just the BFE, but not the actual elevation of an individual lot. Every lot can be different. Mine is slightly different than both my neighbors (by a few inches). To my knowledge, surveyors don't report the elevations to any central database (which would be NICE for your situation!).

[mr&mrssunshine]

its always nice to have a few more inches than your neighbour !!!

[yellowsky]

Originally Posted by mr&mrssunshine

its always nice to have a few more inches than your neighbour !!!

Ah! but how do you know they are not just bragging?