The regulations regarding elevation play a major role with an owner’s plan to either renovate or build new.

A Flood Elevation Certificate is needed to determine the official elevation of both the land and the first floor living area.  For example, “curb” elevations on the island range from 5 feet above sea level to just over 12 feet.   The island may seem flat, but the subtle inclines exist!

Obviously a home with a lower curb elevation will need to be higher off the ground to meet code.

Now back to the charming beach cottages.  A lender will require flood insurance which is calcuated on the elevation.  If the home meets code, the annual premium will be approximately $900.  If the structure sits too low, the premium could be as high as $5500.

When a major renovation is planned, the municipality will require the structure to be brought up to code, too.

At this point, a property owner can compare the cost of lifting/renovating their home, or building new.

If the lot is undersized and/or the structure is larger than would be permitted today, lifting may be the best option to retain livable square footage.

If you have any questions regarding local real estate, I am here to help!  609-967-7950