Let’s imagine you have a very specific location in mind; A dream neighborhood. The catch is that every home in that neighborhood is well above your price point, except one. It needs a new roof, some HVAC work, and definitely some new paint. However, you do not have enough cash-on-hand to make all of the needed repairs.
Do you need to walk away from this home?
The answer is no, and here’s why. In your home search if you find a home in a great neighborhood that needs a little TLC, a renovation loan could be your answer.
Renovation loans are available for every type of buyer and home. They are available for use on primary, secondary, and investment properties and can include improvements such as windows, flooring, remodeling, appliances, and much more.
So, no matter whether the home needs a few updates or a major overhaul, you are able to add value to the property by making changes with the help of a renovation loan. For more information, contact Ann Huskey and she can help set you up with a renovation loan specialist.