if by chance your building a new camp. You will get a 15% deduction on price for every foot (up to 4') above the BFE you build your house. So if you build new, build HIGH.
When I built my house in galveston after Ike, we built it 5.9ft above the minimum BFE and our flood insurance is $214 a year for a house valued at 240K. New NFIP does not cover anything downstairs except electrical and a 300sf space for storage....However, we have 1000sf enclosed downstairs consisting of a fishing room, shop for my wife and a huge garage.
NFIP is changing the flood maps, so be very sure of what the BFE( base flood elevation) has to be before buying an existing house, or building a new one.
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