Advantages and Disadvantages
Individual property owners will want to weigh the advantages and disadvantages of property acquisition. The advantages of property acquisition include:
- Peace of mind because it reduces, if not eliminates, most of your future risk
- Fair compensation generally based on the pre-flood market value of your home
- A chance for a new start
- A means of recovery that is more advantageous than repair grants or loans
- An opportunity to recoup at least partially your financial investment in a property that has lost value
On the other hand, property acquisition has its disadvantages for you. These may include:
- Loss of roots
- Despite efforts to compensate you fairly, property acquisition may not make you "whole" again
The process can be lengthy. Property acquisition is not an overnight solution. Applying for funds, waiting for approval, transferring funds, conducting appraisals and closings, etc., take time, especially if the project involves many properties.
Back to Property Acquisition Projects (Buyouts)
Last Modified: Thursday, 07-Dec-2006 10:24:39 EST