After the Storm: The Pros and Cons of Rebuilding, Selling, or Elevating Your Flood Damaged Home. (Part 2)
In Part One, we discussed the pros and cons of selling your lot or rebuilding your home in the aftermath of the 2024 Hurricane season in the Tampa / St. Petersburg area. Part Two will discuss the advantages and disadvantages of elevating your existing home or building a new elevated home.
Option 3: Elevate Your Existing Home
Want to keep your current house but make it more flood-resistant? Raising it above flood level is an option worth considering. It may seem simplistic, but a hydraulic jack lifts your home while contractors build a new foundation and pilings beneath.
Pros
Better Flood Protection
- Elevating your home above FEMA’s Base Flood Elevation (BFE) can prevent future flood damage.
- Tampa and St. Petersburg are highly vulnerable to flooding, so elevation increases resilience.
Lowered Flood Insurance
- Homes above BFE are considered lower risk, significantly reducing flood insurance premiums.
- Compliance with FEMA and Florida Building Codes can help maintain affordable coverage.
Increased Property Value
- Elevated homes meet modern floodplain management standards, making them more attractive to buyers.
- Flood-resilient homes often sell for higher prices, especially in waterfront communities.
More Usable Space
- Raising your home can create extra storage, parking, or a covered outdoor area.
- Depending on local regulations, the space underneath may be used for non-living areas like a carport, patio, or workshop.
Compliant with Local Codes
- Tampa’s stringent building codes require homes in flood-prone areas to meet elevation standards during substantial renovations.
- Elevating now ensures your home is code-compliant, reducing the need for future costly upgrades.
Peace of Mind
- Knowing your home is better protected against hurricanes and storm surges provides a sense of security.
- Less risk of property damage means fewer disruptions and unexpected expenses.
New and Improved Views
- By raising your home, you are creating a new view, enhancing appeal and livability.
Cons
It May Look Weird
- Elevating your home may change its appearance and not fit with the surrounding homes.
- Taller homes may stand out awkwardly if neighboring houses remain at ground level, affecting curb appeal.
It’s Pricey
- Elevating an existing home is expensive, costing between $75 to $200 per square foot.
- Larger homes or those on slab foundations require extensive modifications, sometimes exceeding $1 million.
Accessibility
- Elevated homes require stairs or ramps, which may be difficult for elderly or disabled residents.
- Installing an elevator or lift can help but adds significant costs.
Increased Wind Damage Risk
- Proper reinforcements and structural designs are necessary to minimize wind-related risks but don’t guarantee wind damage prevention.
More Regulations
- The process requires permits, elevation certificates, and compliance with FEMA guidelines.
- Local building codes can be complex and time-consuming, often requiring professional assistance.
Water, Mice, and Termites. Oh My!
- Raised foundations can trap moisture, leading to mold and structural issues if not properly ventilated.
- Crawl spaces may attract pests like termites, rodents, and insects if not adequately sealed.
You Will Need to Move
- You cannot live in your home during the elevation process, requiring temporary housing for weeks, months, or even up to a year.
Option 4: Build a New Elevated Home
If you love your neighborhood but don’t want to deal with flooding again, building a new elevated home could be your best bet for long-term security.
Pros
Superior Flood Protection
- Elevated homes are built above the Base Flood Elevation (BFE), reducing the risk of flood damage.
- Water intrusion is minimized, preventing costly damage to your living spaces.
Lower Flood Insurance
- Because elevated homes are considered lower risk by insurers, you may qualify for substantial savings on flood insurance.
- Many insurance providers offer discounts for compliance with FEMA elevation standards.
Compliance with Updated Florida Building Codes
- Working with a qualified builder ensures compliance with modern elevation and wind resistance standards.
Increased Property Value
- Elevated homes often appreciate in value due to enhanced flood protection and structural resilience.
- Buyers prefer homes that already meet updated codes, making resale easier.
Better Air Circulation & Reduced Moisture Issues
- Elevated homes improve air circulation beneath the structure, reducing humidity, mold, and mildew growth.
Views & Curb Appeal
- Higher elevations provide better views and aesthetic advantages.
Usable Space Underneath the Home
- The area beneath the home can be used for parking, a garage, or a patio.
Engineered for Structural Stability
- Homes are built on pilings or stilts, making them more resistant to lateral forces from wind and water.
Cons
It’s Pricey
- Elevated homes require specialized engineering, materials, and construction techniques, making them more expensive.
Accessibility
- Stairs or elevators may be challenging for elderly residents, disabled individuals, or families with small children.
Neighbors and HOAs
- Some HOAs or neighborhoods may oppose elevated homes, adding permitting or design disputes.
Greater Wind Exposure
- Even well-designed elevated homes face increased wind damage risks.
More Permitting & Regulatory Processes
- Navigating FEMA guidelines, local building codes, and permit requirements can be time-consuming and costly.
You Will Have to Move
- Since the home is being rebuilt, you’ll need alternative housing for months to over a year.
If you have a house or lot damaged by recent disasters in the Tampa / St. Petersburg area, contact us at Winway Homes, and we can discuss your options.
