FEMA Appraisal in Pinecrest

Professional FEMA Appraiser in Pinecrest

Over the years, our Florida coastline has been built up with many different structures. These buildings and homes vary in age and construction quality and many  were constructed before there were today’s strict building codes and flood elevation requirements.

How Do FEMA Regulations Work?

Any damage today caused by not only flooding but also wind, fire, termite or man within a designated flood hazard area is under the auspices of FEMA. FEMA regulations ensure that any rebuilding of structures in flood-prone areas are done so safely. Unfortunately, these can be costly to a homeowner or business owner.

Evaluation of any damage that happens to a structure today is taken against the depreciated market value of the building to see if it exceeds FEMA’s criteria for “substantial improvements”. As there are many different methods of determining the cash value of a property, you will want to make sure that you are only dealing with a professional that has experience with FEMA guidelines for your Pinecrest FEMA appraisal.

The 50% Rule

Because of costly losses due to weather occurrences and other issues, FEMA has imposed what is known as the 50% Rule. Under this rule, building and homeowners who renovate, repair, or make additions to their properties that lie in a designated flood zone may only do so if the repairs are not “substantial”. The definition for substantial is if those repairs or additions equal or exceed 50% of the cash value of the property before construction. If the repairs or additions do exceed the 50% rule, the entire property must be brought up to current flood code.

Understanding How This Affects You

Today in South Florida, this regulation can affect thousands of home and business owners who currently own properties in flood-prone areas. Especially after a storm that can cause substantial damage, these property owners will face the daunting task of rebuilding their homes or businesses.

As FEMA strives to make our coastlines a safer place, home and business owners must comply with these laws that have set standards designed to reduce the cost of future disasters to the insurance industry. Before any decisions can be made, an owner must understand what the costs will be to repair or renovate the property and if it fits in the guidelines of FEMA’s 50% rule. The best way to do this is with a FEMA 50% rule appraisal in Pinecrest.

This can be quite intimidating for a home or business owner who is faced with the uncertainty of whether they may be required to bring the entire elevation of their property up to the current 100-year floodplain codes. This is why it is of the utmost importance that an actual cash value appraisal in Pinecrest be done prior to any construction.

Not a Regular Appraisal

A Pinecrest FEMA appraisal is different from a regular appraisal and requires extensive knowledge of both FEMA regulations, construction methods and materials and local markets. At FEMA Appraisals, we have many years of experience with substantial improvement appraisals in Pinecrest and throughout South Florida and can help you determine the depreciated value of your property and whether your project’s budget will fall within the FEMA 50% rule. With this information, you can make an informed decision about going forward.

Experienced Professionals

At FEMA Appraisals, our professionals are experienced in the valuation of all residential, commercial and other types of properties. Over our years in business, we have advised hundreds of clients in their decisions when it comes to FEMA regulated construction projects. By relying on our seasoned professionals to conduct your substantial improvement appraisal in Pinecrest, you can rest assured that your project is within compliance with current FEMA and local regulations.

Understand what your responsibilities are under the current Pinecrest FEMA 50% rule appraisal guidelines with a thorough analysis and valuation of your property. Call FEMA Appraisals at Dade Appraisals at 305-595-1312 to determine the cost value of your property for intended additions, repairs or renovations.