The Importance of North Bay Village Substantial Improvement Appraisals

The North Bay Village substantial improvement appraisals give the building owners a chance to reduce any future costs related to flood damage. This keeps the residents safer. It is a good opportunity for the older building owners to modernize the structure and get it up to modern standards with better flood damage resistance. It is a good way to break the ongoing disaster damage and reconstruction cycle. The substantial improvement refers to any addition, rehabilitation, and reconstruction to improve the structure of the building with costs equaling or exceeding the 50% market values.

The North Bay Village substantial improvement appraisals determine this before the construction work may begin. This includes the structures incurring substantial damage irrespective of the repair work involved. It does not involve include projects for structural improvement for correcting any violations to local sanitary, safety code, or health specifications.

The foundation of the home may require substantial repair as well. When this involves the replacement or repair along its base equaling or exceeding 50% linear feet measurements, North Bay Village substantial improvement appraisals are necessary. The same is important for repairing or replacing 50% of piers, columns, or piles in such foundations. Such appraisals are necessary for the following situations:

•    Interior remodeling of building minus or with the modification of external dimensions
•    Foundation repair with replacement or extension of the foundation
•    Vertical addition
•    Substantial damage repair
•    Lateral addition

The owners often break improvement into more than one part with separate permit requests to bypass the SI requirement. For a substantial improvement, it is necessary to verify the improvement cost and it equals the overall costs of the proposed structural improvement. The appraisers provide an acceptable cost improvement source. They include all costs even discounted or donated along with the costs associated directly with the structure, and the labor costs.

The Sunny Isles Beach actual cash value appraisals verify the building’s market value and this does not include the land value. This appraisal is necessary before the construction work starts or the damage occurs. It does not include the indirect building costs like those related to the septic, engineering, well, permits, or landscaping aspects. Any expenses for correcting the existing violations of safety code, sanitary, or local health specification is also not part of the overall cost determination during appraisal.
Costs included for substantial improvement:

•    Labor and material
•    Preparation of the site
•    Demolition and debris removal
•    Interior finishes of built-in cabinets, wall finishes, and flooring
•    Exterior finishes, foundation, doors, windows, porches, and attached decks

SI cost exclusions relate to the following:

•    Trash removal or cleanup
•    Inspection and permit fees
•    Land survey cost
•    Outside improvement of sidewalk or landscaping

The North Bay Village substantial improvement appraisals provide the data for determining percent improvement along with overall improvement costs.