Football - and Flood Maps South Carolina Style
What in the world am I talking about? Well, one of the difficulties at the very beginning of talking about flood maps is the concept of elevations. So, what's that got to do with football? Most people seem to understand the yard lines on a football field so with that concept, the previous required elevation to have the lowest flood insurance rates on Hilton Head Island (and in Beaufort County, South Carolina) was 14' - basically nearly to the 5 yard line on the football field. NOW, with the new flood maps, that line of scrimmage is only required to be at the 3 yard line - or 9 feet. What's the big deal? Well, if you are indeed a football afficianado, you know that it's a pretty big difference between that 5 yard line and the 3.
So, too is the difference in what you'll pay on Hilton Head Island for flood insurance. If you were previously on that 3 yard line, you may be close to a touchdown but you would have been paying over $2000/year just for flood. Now, you'll enjoy the rates that people had on the 5 yard line - usually a little over $400. A pretty big difference.
It also opens up areas on Hilton Head Island that you might not have thought about looking in; specifically in Sea Pines, Palmetto Dunes, and Shipyard. In order to be sure of the elevation, you'll need to ask the homeowner for a current elevation certificate. To continue with our football analogy, you might think about the EC (as we call it around here), as a playbook. If that EC shows that the lowest elevation level of the first finished level of the home is only 6', your next play may be to move onto another home. If that EC shows the home elevation is at least 9', you might think of going for the 'score'.
Just because these new flood maps allow for lower elevations to have lower insurance premiums, if you are thinking of building, the options of purchasing a piece of property that may be closer to water is definitely an option even if it's lower than the 9' ; but my strong advice would be to still consider building up to the previous 14' requirement. Always better to have a flexible 'game' plan.
So, if you'd like more information about the new maps - which by the way won't go into effect until 2019 - and you'd love to look at property on Hilton Head Island, give me a call!
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