5 Strategies for Getting Your Life Back After Sandy Took Your LI Home

According to the latest reporting by Fox News, local Long Island churches, and coop managers, between 40% and 60% of Sandy hit homeowners still haven’t returned to old home sites even though they desperately want to. So what strategies can be applied to speed up the process?

Many Long Island property owners are reportedly still paying their coop dues even though they haven’t been able to move back and rebuild homes yet. Others are struggling and risk losing their land and whatever is left of homes due to falling behind on property taxes.

It’s undeniable that some face massive challenges in rebuilding, or even in saving homes that aren’t in such bad shape due to new codes and regulations. Time is running out. Fortunately, there are options.

1. Get an Attorney to Fight Your Insurance and Mortgage Company

Some of the biggest challenges many face is being taken advantage of by insurance and mortgage companies, even after years of timely payments. There are all types of excuses, and idiosyncrasies. It usually all comes down to not wanting to hand over money, or seeing an opportunity to seize it. Sadly, despite the best efforts NY homeowners can’t expect fair treatment. Getting an attorney can be one of the best ways to push back and get them to perform.

2. Replace Damaged Properties with Pre-Fab Homes

Pre-fabricated homes can be an incredibly affordable solution for rebuilding at a fraction of the cost of on-site construction, and can be up far faster. While options vary a modest sized, but stylish pre-fab home that is virtually indiscernible from brick can be found for around $70k – $80k dollars. The most cutting edge home manufacturers like Mesocore even include sustainable elements such as rainwater harvesting and solar to reduce utility bills and increase self-sufficiency. Steel cores make them great choices for standing up to the elements in storm prone areas too.

3. Launch a Startup

For those finding they took a hit to income and savings as a result of the storm and recent economic struggles it could be a great time to start a new business. Between crowdfunding, online tools, and programs like Startup NY it’s never been easier to launch a new business in New York. This could help many boost their incomes and credit again to be able to finance rebuilding and maintaining housing costs.

4. Cash Out and Buy Something Else

Due to the many complications and high cost of fixing and rebuilding Sandy hit homes many might find it makes far more sense to sell the rubble or land and start over. With incredibly low mortgage rates, any cash proceeds from old properties could be used as a down payment on something new, and in some cases could even result in homes being paid off faster.

5. Appeal and Correct Your Property Taxes

Appealing and correcting your Long Island property taxes can be a lot easier than you think, and far more important. The majority of Long Island homeowners are over-billed each year. This is money that could be used to apply to rebuilding or fixing up a home, getting more from your insurance company, or even making the property more attractive to buyers.

It’s true that there is plenty of injustice to complain about, but getting back on track could be easier than some expect. It does require sending an email or picking up a phone to call those waiting to help, but isn’t it worth it?

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“I have saved on my own real estate taxes for many years. As well, any clients I have referred have also saved on their taxes and advised they were very happy with the service and results received from Property Tax Adjusters. It is without hesitation that I refer interested persons, friends and clients alike, to Property Tax Adjusters for assistance on reducing their taxes.”
Herbert G. Pitkowsky, Esq.