FEMA Appraisal in Sunny Isles

Professional FEMA Appraisals in Sunny Isles Beach

Do you own a home or business in a flood-prone area of Sunny Isles Beach? If you need any repairs or renovations to your home that may be substantial in nature, you may require a FEMA appraisal in Sunny Isles Beach.

The Benefits and Drawbacks of Living in a Coastal Community

As residents of South Florida, we know what the benefits are. Unfortunately, we also know the drawbacks. Over the years, we have watched many weather systems destroy homes and structures along our coasts.

Fortunately, we have government entities that provide subsidized flood insurance for these structures. They also ensure that these structures along our coastlines, primarily those that lie within designated flood zones, are kept in compliance with regulations that keep them safe from incidents to keep insurance rates affordable.

FEMA Criteria

In order for coastal municipalities to be covered under the federal flood insurance program, they need to comply with FEMA regulations. A significant regulation is known as the FEMA 50% rule. The county or city must agree to enforce these regulations as a requirement for using the government flood insurance plan. In essence, these regulations serve to reduce future flood damage and lessen exposure to insurance claims.

The 50% Rule

The FEMA 50% rule limits the cost of improvements to structures that lie within flood-prone areas. These improvements are limited to 50% of the market value of the structure prior to the beginning of any work. Any improvements that equal or exceed 50% of the market value must then conform to present-day flood regulations and all elevations must adhere to these new regulations. Regardless of how old the structure is or how long it has been there, it will be treated like new construction and have to adhere to current flood criteria.

How Market Value is Determined

Typically, FEMA will take the country property appraiser’s calculation of market value and add 20%. As a home or business owner, your one recourse is to have an independently conducted FEMA 50% appraisal in Sunny Isles Beach. This ensures that all considerations are carefully reviewed by an independent appraiser to determine if you need to comply with FEMA regulations.

This is very important as many things that are not required to be taken into account in a FEMA appraisal that will be accounted for in your country appraisal. As a homeowner, you owe it to yourself to see exactly what your depreciated cash value is within exact FEMA guidelines to ensure that your budget for repairs stays under the 50% criteria.

Don’t Make a Costly Mistake

As a homeowner, you know that elevating a slab can be extremely costly. Being an informed property owner is the best way to protect you and to make sure you are in compliance with FEMA regulations. Mistakes that are made immediately after a weather incident or loss can result in needless expenses. Having an actual cash value appraisal in Sunny Isles Beach is an important way of determining if your project falls within the 50% guidelines before you begin construction.

We Can Help

Understand your rights as a property owner. We can help. At FEMA Appraisals, we have conducted hundreds of substantial improvement appraisals in Sunny Isles Beach and are knowledgeable in all national and local regulations. Our knowledgeable team has the experience and expertise to ensure that you are within FEMA guidelines when planning your renovation project or property repair.

Contact FEMA Appraisals at Dade Appraisals at 305-595-1312 to determine the cost value of your property for any intended repairs, additions or renovations. We exceed all industry standards with high quality and punctual FEMA appraisal services.