FEMA Appraisals Miami Beach

Do You Need a FEMA Appraisal in Miami Beach?

If you are looking to improve or renovate a piece of residential or commercial property in Miami Beach that is currently in a designated flood zone, FEMA places limits on what can be done to that property. Today, any residential, commercial, or industrial property must comply with FEMA regulations. Complying with these criteria can be costly for a property owner and a full understanding of the FEMA 50% Rule is important before making any improvements to a property that may fall under FEMA regulations.

What FEMA Regulations Say

Any building that is being renovated or repaired now falls under the same guidelines as new construction if it meets certain criteria. This basic rule applies: if the cost of repairs or improvements exceeds 50% of the market value of the home or building, it must be brought up to any current floodplain management standards.

If your residential or commercial property is in flood zones A1-30, AE, AH, V1-30, V or VE on the Flood Insurance Rate Map, your lowest floor must be above the Base Flood Elevation. Any properties falling in any V zone is now required to be constructed on erected piles.

This is called the 50% FEMA Rule and it will affect any projects, either voluntary or necessary to make repairs after a weather catastrophe such as

• Rehabilitation
• Remodeling
• Additions
• Repairs
• Any Construction

For instance, if you choose to improve your Miami Beach property, Dade County will default to the 50% FEMA rule which may require you to raise your entire lowest elevated structure to the Base Flood Elevation. This can be costly.

 Get a Professional Property Evaluation

A property owner who may be considering any building project on a property that falls within a FEMA Flood Zone should consider these building projects carefully. You will want a professional Miami Beach 50% FEMA Rule Appraisal on your property to ascertain whether the costs of repair or renovation exceed the 50% threshold and make accommodations, if necessary.

Getting the right appraisal done can make a huge difference in what you will be required to do to the property under these regulations. This requires the skill of an appraiser who has extensive knowledge of FEMA regulations.

FEMA Appraisals can help advise you with any improvements that fall under the 50% Rule as “substantial improvements.” With a Miami Beach substantial improvement appraisal, we can help determine whether your property improvements will exceed the 50 percent cap and help you adjust accordingly before you begin a costly construction project.

Experience and Professionalism

At Dade Appraisals, we have experience providing property owners comprehensive Miami Beach actual cash value appraisals in order to determine whether renovations or repairs fall within FEMA guidelines. FEMA regulations can be complicated and not all appraisers are capable of addressing the criteria.

We set ourselves apart from our competition by our credentials and the way we conduct our business.

• As licensed appraisers, we have expertise in all property types.
• We are MAI designated commercial appraisers
• Our services are above industry standards
• We are independent and have no affiliation with brokers
• We provide punctual and fair appraisals using superior resources and databases
• We use rigorous review procedures
• We provide personalized 1-on-1 service

If your property falls within a designated flood zone, it will be subject to FEMA guidelines when it comes to any improvements you may want to make. Having a FEMA appraisal can challenge those limitations. Call us today at 305-595-1312 to get your questions answered.