House Elevation Toms River NJ
Four Reasons to Raise Your Home
1. To lower your flood insurance
House lifting will also lower your flood insurance in the long-run. Under the Flood Insurance Reform Act of 2012, you could save more than $90,000 over 10 years if you raise your house 3 feet above the Base Flood Elevation.
2. To mitigate against flooding
According to an article posted by FEMA here, flooding is the nation’s number one natural disaster. It can occur inland, along the coast, and across every region of the country. Even though you may think your community has little or no risk of flooding, the reality is that anywhere it rains, it can flood. There has been an increase in floods over the past few years, so the best option for homeowners, especially in areas prone to flooding, is to raise their home to mitigate against future damage.
3. To increase the value of your home
House raising increases its value and potential resale by an estimated 15% to 25%. Adding square footage alone increases its value, the more space, the more it’s worth. As for potential resale: houses in flood zones that aren’t raised are nearly impossible to sell because flood insurance rates are so high.
Buyers would have to purchase additional flood insurance on top of buying your house, which would cost them thousands of dollars a year as seen above in figure 3. This may discourage them from buying your home and encourage them to buy one that is already lifted. Elevating a home may be expensive, but it would be worth the cost if you are having trouble selling it.
4. To be FEMA Compliant
There is a regulatory requirement for the elevation and flood proofing of structures set by FEMA. This is the Base Flood Elevation.The BFE is the computed elevation to which floodwater is anticipated to rise during a base flood. Once a structure is lifted, only the foundation remains exposed to flooding while the living area is safe from damage. BFEs are shown on Flood Insurance Rate Maps (FIRMs) and on flood profiles.
For more information on house raising, click here.
W.A. Building Movers & Contractors Inc. is a family owned and operated house lifting, house raising, house moving and flood mitigation services company, specializing in home elevation for over 50 years in New Jersey, New York, Connecticut and Pennsylvania.
Any questions or comments? Call us at908-654-8227or e-mail us at info@wabuildingmovers.com.
