Did you recently find out your house is in aflood zone?
The good news is, one change could potentially do both: elevating your house.
But what is the cost to elevate your house?
That could serve as a down payment on a home that isnt in a flood zone.
But before you jump to that, consider the long-term benefits.
Or, you could look into getting a personal loan from companies likeAmOne.
You also would need to consider how long the project would take.
Its possible you may not be able to stay in your house for four to eight weeks.
But, knowing how construction often goes, lets multiply that time by 1.5.
Youd get an average expected construction time between six and 12 weeks.
To just raise your home, expect the cost to fall between $10-$30 per square foot.
To lift your house and also replace your foundation, expect around $20-$80 per square foot.
That would be a lot for anyone.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Go ahead and start now, but be sure to bookmark this post so you might easily return later.
Well keep it updated as offers changes or expire.
Is the Cost of Elevating Your House Worth It?
Well, elevating your home will make it a little less likely to disappear in a major hurricane.
First, lets say your house is in Florida, a reasonably flood-prone state.
That means you gain an average savings of $16.12 a month, or $193.50 a year.
Which, admittedly, does not seem like a whole lot.
But that money could pay for aNetflixsubscription.
However, itd probably be wiser to use this freed-up money elsewhere in anemergency fundorinvestments.
With the savings you get up front, it would take 3,722 months to break even.
Did you know?
Just that assumption alone means you made $40,0000 on your $60,000 cost.
Dennis is a civil engineer and freelance writer with a passion for personal finance.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
