Smart Moves for Seniors

An Open Resource and Meetingplace for Seniors Thinking About Moving On With Their Lives and provided by Lois Patton, Licensed Real Estate Salesperson and Certified Buyer Representative with Albany Realty Group, Albany, New York. Also visit us at or call 518-459-4564.

Monday, July 03, 2006

I had never seen "The Money Pit" until last night...if you have seen it you'll know that its about a young couple which impulsively buys a beautiful mansion in the New York suburbs for "a steal." Unfortunately, the house has serious problems and everything from the staircase to the stove fall apart and blow up. The mansion becomes a "money pit" with each passing moment and there are some very entertaining sequences with Tom Hanks and Shelly Long as they keep trying to see the best and the good in the house regardless of its structural problems.

Perhaps the writers of the story or the screenplay for "The Money Pit" had a bad experience with the purchase of a house. Clearly, the characters in the movie failed themselves miserably by not securing the services of a good home inspector. The old saying "penny wise and pound foolish" could apply if a buyer is resisting paying for the services of a professional to take a good look at a house before buying it. I once was under contract for a house I thought was in great shape, but an inspector pointed out problems with the plumbing, the roof and he asked some important questions about the next door owner (this was a two family unit in Philadelphia). There were enough questions and issues with the place that it would have cost a good amount to fix it up and I cancelled the contract. A realtor can put you in touch with the services of qualified home inspectors (some states now require that inspectors be licensed, and New York is one of them). Give us a call and let us know how we can help you to stay up to date with the issues in the real estate market.

Have a great day!


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