Justin explains the benefits of raising your home if you live in a high risk flood zone.
With rising tidal waters, you may consider raising your home if you are in a high-risk flood zone. One of the benefits of a raised home is lower flood insurance cost. The National Flood Program is looking at large increases at each renewal. Each year you could see 10-18% premium increases. This could play a big role in your decision to elevate your home.
Another benefit is protecting your personal property from future flooding. Although you may have insurance, when it comes to water damage in your home, some things are irreplaceable.
There are some downsides to elevating your home as well. One important concern is cost. Raising a home could be upwards of $100,000 and there could still be additional unforeseen costs on top of that. Another area for concern is the amount of stairs in order to access your first level.
If you are thinking about raising your home, the savings will often outweigh the cost. It is a good idea to speak with your insurance agent to find out how your insurance will be effected.
For more information, please contact Justin anytime.