I have a related but more specific question.
What would your guess be as to the depreciation on an individual house in the flood fringe that was not brought up to the provincial flood prevention code? Would it be different for a $700,000 property as for a $1,000,000 one? Any guess on whether there will be immediate depreciation on a house in the fringe even if it was brought up to the code?
Unless we can collectively get the road (Bow Crescent) built up into a dyke or something I'd need to burm/raise my foundation about 3 feet to be able to meet the standards to be covered again by the government. Burming would almost certainly require re-engineering the foundation as the foundation isn't rated for that much hydrostatic height and 15% of the repair cost ain't gonna come close to that cost.
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