Job Loss Making You Move
Imagine that you just got a big promotion that would double your salary and give you a more flexible work schedule. The only catch is you have to relocate halfway across the country and head up a new division. You worked hard to earn the promotion but you know you will never be able to get a fair price for your home in a collapsed housing market. Will you take the loss and make the move or refuse to let the home go for a penny less than you paid? Throughout the last few years, many have found it nearly impossible to recover from the housing market crisis. Thousands have lost their homes to foreclosure, and over one million homeowners in the US are currently 3 months behind on their mortgage payments.
With the collapse of manufacturing in many small towns throughout the nation, many families are beginning to realize that the only way to recover from job loss is to pack their bags and move to an area with more opportunity and less competition. Unfortunately, few such areas exist. As young men and women flood cities with a relatively low unemployment rate, competition rises. Even cities well-known for opportunity are shrinking in population because of a deadly combination of high unemployment and overpriced housing. Regardless, many continue to flock to cities such as Atlanta and New York City, known for their strong economies.
Whether a homebuyer is migrating to a new area for job opportunities or simply looking to downsize to cut expenses, a home inspection is probably the most important step when deciding to buy a new home. While many argue that it’s an unnecessary expense, you need only to consider the cost of a major repair to understand how much you could be saving.
When it is done right, a home inspection can save thousands of dollars. Home inspectors check everything in your new home, from the basement to the attic, to make sure that you are buying a property that has properly installed and operating systems like electrical, plumbing and heating. Moreover, something like rotted subflooring may escape your attention when making a cursory inspection of your new home but it would be spotted immediately by a good Atlanta home inspector. And, any small issues that are overlooked can become huge expenses in the future.
Having your home checked by a certified, professional home inspector is gaining knowledge of your future risks in major home repairs. Before you are locked into a home purchase, a home inspector can determine the quality of all the home’s systems. With that information, you may be able to negotiate a better selling price, closing assistance or assume the repair risks and be fully aware of the repair costs that are inevitably in your home’s future. Ultimately, a home inspection is a small cost in a long term home investment.