What is a buyout?

A buyout (also called a voluntary property acquisition), describes a process in which a homeowner is given compensation in exchange for their flood damaged or flood prone property. In most buyouts for flood mitigation, the property is transferred to a local government entity which manages it as permanently deed-restricted open space. Since the 1980’s, over 43,000 households have participated in buyout programs, in nearly every state of the country!

Why should I sign up for a buyout?

Many homes across the United States have been built in low-lying areas close to rivers or the ocean. While these locations have brought many people closer to nature, flood risks are increasing. Many of these neighborhoods may no longer be safe in the event of a major storm or flooding event. A buyout can help you keep your capture your equity and provide permanent relief from flood worries.

What happens to the land?

Buy-In’s buyout assistance programs ensure that the land you leave behind is conserved as open space and returned to its historical floodplain function. This can improve water quality and habitat, as well as create open space or recreational amenities that honor your sacrifice and improve well being in your community.

How quickly can I get a buyout?

Publicly-funded buyouts take time - sometimes even years to implement. However, if you are considering a buyout of your home due to concerns about flooding, signing up today can help expedite the process in case another flood happens in the future. Signing up today is a no cost, no commitment way to start planning for the future.

What if I’m not ready to move?

Deciding to move is hard, and we know that there are a lot of factors that come into play - if you have kids in school, are saving for retirement, or trying to pay off your mortgage, you may not be interested in committing to a buyout at this time, even if you are worried about flooding. Buy-In provides flexible, no-commitment timing for your buyout, which means that we can help you plan for the future, whether it be for retirement, or even as part of your estate planning.

What if I don’t want to move?

There are alternatives to participating in a buyout program, including flood proofing and elevation. However, elevating can be an expensive option, with prices averaging around $75/square foot. Also, not every home can be elevated. Contact a licensed professional in your area to learn more about whether or not elevation may be a feasible option for you.