50% rule is all about flooding. Most of the older homes that are pre-FIRM were built with the finish floor below the base flood elevation and no flood venting. You are allowed up to 50% fmv, structure only, if you go over, you must elevate the FF to the BFE plus any freeboard Monroe Co added, along with proper flood venting. If you can’t elevate, stay below 50% fmv, structure only. Our county drops a permit cost every year after the 5th year so that you can do more construction. But as said, contact your local Floodplain Administrator. Source: CFM. Y’all keep up that great work! Love ya.

Good video, well done! Great insight! I always laugh at Florida folks calling a home from the 50’s old lol. Perspective. Here in Cincinnati we have homes that are still amazing and beautiful and in great working order built in the Civil War era, almost 100 years before these “old” FL homes haha!

Thanks, Mark for an informative video. I understand a situation where someone could be highly disappointed when buying a fixer-upper.

FEMA’s 50% rule prohibits repairs and improvements on damaged homes exceeding 50% of their market value unless the entire residential structure is brought up to the most current floodplain management regulations. You can spend as much as you want but if you spend more than 50% you have to bring the entire house up to all current codes and flood elevations, etc.

The 50% rule is a National program by FEMA that some counties participate in to get older homes to meet new flood elivation codes. I believe home needs to be 18" above base flood elivation or 12" above crown of road in front of property. My county which is Collier uses the county appraiser value of the structure plus 30% if they are nice. So like a home I live in the market value is about $850k but the structure value by county appraiser is $75k plus 30% equals $97,500. Which means I can make upto $48,750 in repairs before having to raise the elivation which would really means tare down home and rebuild. Which would cost between $550 - 650k. Most people can't afford that and most renovations on an old home will cost more than $50k. This leaves people between a rock and a hard place.

@GablesOnTheGo

Ай бұрын

Yes, the 50% rule can be tough for sure...that's why we felt it was important to do a video on it and bring more awareness.

THX again for the info! You guys are the best!

@GablesOnTheGo

3 ай бұрын

Our pleasure!

The City of Destin,in the Florida Panhandle, applies the 50 percent rule for a 10 year period. They actually tract your permits to keep you from extending the time period to circumvent the rule. Look up your local FEMA CRS rating and you will see what their rules are. municipalities and counties submit their rules to FEMA in an effort to reduce their CRS rating thus reducing FEMA Flood Insurance Premiums for all its property owners.

Excellent, knowledgeable, and honest conversation! Thanks

@GablesOnTheGo

3 ай бұрын

Glad you enjoyed it!

Thank you for sharing. We started heading to the Keys every year after the last big huricaine that hit. Wished we had purchased a home back then. Planning for retirement...hoping this includes the Keys perminantly. Thank you again for all the great information you and Laurie share with us. Headed down next week. Can't wait!

@GablesOnTheGo

3 ай бұрын

You are welcome! Hope you have a safe trip and please let us know if we can help with anything.

Great video. This is a fema policy so homeowners can obtain flood insurance. Same rules apply to lake homes here in northern Indiana for homes in a flood plain designated area

@GablesOnTheGo

7 күн бұрын

Thank you Chris, we appreciate you watching!

Loved your video, thank you

@GablesOnTheGo

2 ай бұрын

Thanks for watching!

Great information!

@GablesOnTheGo

3 ай бұрын

Glad it was helpful!

This is not just in the keys but everywhere in Florida.

Excellent Videos.

@GablesOnTheGo

2 ай бұрын

Thanks so much for watching!

The government knows what is best for us!

50% rule is what is screwing all the owners on Ft. Myers Beach from rebuilding. It allows commercial businesses to buy all the land to put in condos and Hotels.

Finally Laurie is back if only for a minute. LOL

The 50% rule is not just Monroe County it's a rule put in place after hurricane Ian by FEMA !

@emeraldkind

3 ай бұрын

If We The People are letting FEMA make laws, we need to rethink things.

Would Law and Ordinance insurance coverage pay to replace the entire home?

I think all sort of delinquencies, tax, homeowner insurance and other cost of living will take the house prices back to pre-pandemic level by next year.

@darreniorio9317

2 ай бұрын

There’s no way that will happen in the keys

I regret going to the keys

We are currently in the market in the Midwest and we just walked through a brick house built in 1856. It was solid, and built to last. It still had all it's original wood and flooring. I'm sure it will stand another 100 years. What are they building houses out of in South Florida that being built in the 50's make them old?

@GablesOnTheGo

3 ай бұрын

It's really not so much the building material down here as it is the climate. Sun, saltwater and high moisture and humidity is very tough on everything down here. Heck stainless steel rusts down here!

Hey! If your property is waterfront, do you need a permit to build a dock there?

@rubenvaldez9699

3 ай бұрын

Yes, you need a permit for just about everything down here.

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well the bank is gona give you a problom if they knew about that.

@GablesOnTheGo

3 ай бұрын

The bank most likely would not be involved, fixer uppers down here tend be cash deals....less to do with borrowing money, but typically you can't get insurance and that kills loans.

First 🏆

The keys are so corrupt.I'll never go there again

@mikehamm648

3 ай бұрын

If you saw the new Road House movie, I understand why

@AndrewDavis-sx6vp

2 ай бұрын

Anywhere Northerners migrate corruption will be guaranteed.

I don't understand how a $500k property was valued at $170k. You missed important details. A property is worth what someone is willing to pay for it. The house itself is worth 170k, but it's sitting on a 500k total price lot? So the land is valued at 500-170=330? Sorry, the only thing I learned here was that I should call you and read the county's website.

@chriswagoner5406

10 күн бұрын

The flood rules apply to improvements only and do not take any site value into consideration

Land of the free 😂😂😂😂😂

😂, A fixer upper is still a 1M outdated home. 😊

That is one of the dumbest ordinances I’ve ever heard. How do they know how much you spent? Do you have to show receipts? How would they know if you went over 50% if you did some of the work? BTW your wife is gorgeous.