Waterfront Property

Waterfront property is probably one of the best investments you can make in Florida and that’s excluding the pleasure it may provide for you as the owner

Again location is an important determinant of price, with established areas such as Naples, Sarasota – Longboat and Siesta Keys on the Gulf Coast and a number of areas on the Atlantic Coast being prime locations with others such as Cape Coral rapidly developing.

Another factor is the desirability of the waterfront location, particularly in regards to access to the waterfront – are there sea or bay views?, is the property on an inlet or canal?– if so is it sailboat water and does it have its own dock facilities?. All these questions help to determine value.

Then there are a number of questions relating to Federal Emergency Management Agency (FEMA), Mangrove, Wetland, Preserve and Conservation requirements which can all be of critical importance but again, all to often are insufficiently looked into.

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Taking into account just the FEMA aspects:-

1. Was the existing structure built after January 1, 1975? [Note: If so, special flood plain management regulations may apply.]

2. Is the property located in a Federal Emergency Management Agency ("FEMA") special hazard zone.

3. What is the currently required Base Flood Elevation?

4. For structures in FEME A zones what is the elevation top of the lowest enclosed, finished floor? [Note: If this elevation is lower than the BFE, the structure may be non-conforming. If non-conforming, the structure may be unlawful.]

5. For structures in FEMA V zones, what is the elevation of the bottom of the lowest horizontal structural member of the lowest enclosed, finished floor? [Note: If this elevation is lower than the BFE, the structure may be non-conforming. If non-conforming, the structure may be unlawful.]

6. What was the Base Flood Elevation for the existing structure at the time of its construction?

7. Is the area below the lowest finished floor used solely for parking of vehicles, building access, or storage? [Note: If not, the structure may be non-conforming.]

8. Is the area below the lowest finished floor enclosed?

9. Is there furniture (bed, couch, tables, etc.) on the ground floor? [Note: If so, the structure may be non-conforming.]

10. Is there a bathroom (commode, sink, shower) on the ground floor? [Note: If so, the structure may be non-conforming.]

11. Is there floor covering (carpet, tile, vinyl) on the ground floor? [Note: If so, the structure may be non-conforming.]

12. Are the ground floor walls finished with drywall or paneling? [Note: If so, the structure may be non-conforming.]

13. Are there kitchen appliances (stove, fridge, oven) on the ground floor? [Note: If so, the structure may be non-conforming.]

14. Is there a washer and/or dryer on the ground floor? [Note: If so, the structure may be non-conforming.]

15. Are there separate walled rooms on the ground floor? [Note: If so, the structure may be non-conforming.]

16. If in a FEMA A Zone, do the walls enclosing the area below the lowest finished floor have a minimum of two openings no higher than one foot above grade having a total net open area of not less than one square inch for every square foot of enclosed area? [Note: If not, the structure may be non-conforming.]

17. If in a FEMA V Zone, are the walls below the lowest finished floor constructed with non-supporting breakaways, walls, open wood lattice-work, or insect screening intended to collapse under wind and water loads without causing structural damage to the elevated portion of the building? [Note: If not, the structure may be non-conforming.]

18. Are any of the following located below the base flood elevation: Electrical Outlets, Air Conditioner, Appliances, Water Heater, Bathroom, Utility Sink?

19. Are other houses in the neighborhood elevated on pilings? If so, and the existing house on the subject property is built on grade, said structure may be non-conforming.

20. If in either a FEMA A or V Zone, does the existing building conform to current FEMA regulations?

21. If the existing structure does not conform to current FEMA regulations, when was the structure last improved?

22. What was the market value of the non-conforming structure when improved?

23. What was the cost of the improvements when made? [Note: If the cost of the improvements exceeds a certain percent of the market value of the structure when improved, the structure may be non-conforming or future improvements may be limited.

24. If the structure does not conform to FEMA regulations, has a variance been granted by the appropriate local government?

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Andrew Bartlett an acknowledged expert on property trends and relocation in Florida, writes articles and answers readers’ questions for several British publications including Florida Magazine, Escape Magazine, Place in the Sun, Sunday Times, America, and The Red guide to buying Property in America and is regularly consulted by journalists and broadcasters. His consumer web guides have received numerous accolades.

Andrew was a Senior Government Official for 20 years before relocating to Florida several years ago where he was headhunted to set up specialist British property and relocation teams for Coldwell Banker and Remax - America’s largest estate agents. He then established a uniquely impartial and independent relocation and property briefing company working between Britain and Florida. He has written a number of watchdog style articles on overseas property and emigration selling techniques.