Final answer:
The FEMA Elevation Certificate offers advantages for insurance purposes, regulatory compliance, and resale value.
Step-by-step explanation:
The FEMA Elevation Certificate provides several advantages as a record of a building's lowest floor elevation:
- Insurance purposes: The certificate is used by insurance companies to determine flood insurance rates and coverage. It provides accurate information about the building's elevation, allowing for appropriate insurance premiums to be set.
- Regulatory compliance: Local authorities may require the certificate to ensure compliance with zoning regulations, building codes, and floodplain management ordinances. It helps in determining if a building is in a flood hazard area.
- Resale value: The certificate can be used as a selling point for properties located in flood-prone areas. Buyers can have confidence in the accuracy of the lowest floor elevation, providing peace of mind and potentially increasing the resale value.