Is It Time to Buy a Fixer-Upper?

/ / Loans

Buying a “move-in ready” home these days is not as simple as it used to be.

Sellers are fielding multiple offers on almost every listing and usually getting topdollar.

Even if you sell your home for a great price, you still become a buyer on the next transaction.

So how do you find a great deal in today’s real estate market? Look for properties that need some attention.

That’s right. It might be time to consider buying a “fixer-upper”!

Renovating a Home Can Be a Smart Move

Has the possibility of renovating a home been in the back of your mind?

Or are you just frustrated with the current housing market and looking for options?

You’ve seen the home renovation shows on HGTV.

You’ve seen houses being renovated in neighborhoods you really like or would love to eventually own a home there.

Buying a home that needs work can be a great way to get into a desirable neighborhood at a price you can afford.

But how do you pay for the renovations? Do you need a large pile of cash? Or is there financing available?That’s where we come in…

Meet the 203k Loan

Our 203k Home Loan package is specifically designed to help you purchase a property in need of renovations.

It allows you to finance BOTH the initial purchase of the home and the accompanying repairs / renovations. And, this is all based on the future value of the home after the renovations are complete.

A 203k allows you to complete even major renovations – room additions, kitchen remodeling, even repairs for damage from things like hurricanes.

It’s a great way to not only get into the neighborhood you really want, but to get the house you really want as well.

If you’d like to find out more about how 203k loans work and whether or not they’re right for you, get in touch with me today!