design: Why do I need a 203k Consultant or Do I need one?
- 03/09/19 02:50 AM
Figure 1 before a 203k consultant was involved Most 203(k) consultants are presented like a football team’s offensive coordinator – a point guard that runs plays on a basketball court and a star infielder – all in one the point is working as a team!. Seem like an exaggeration? When it comes to 203(k) consultants the comparison is accurate: these professionals really know the HUD and Fannie Mae Guidelines and prove to be the most valuable member of the Renovation Loan Process that helps out when you buy a home and make major repairs with a standard FHA 203K renovation loan – … (2 comments)
Paperwork. Time. Bids. Big loan. These are all things we hear that are keeping people from taking advantage of the FHA 203k loan for home improvements, renovations and repairs. They also keep real estate agents from suggesting this option to clients. From structural to desired improvements like carpet and paint, this government backed program can roll the cost of work into the life of the mortgage. "Wait, the government?! Oh no! They take forever to do things! It's like time's standing still"
The national average cost for an upscale bathroom remodel is roughly $26,052, according to Remodeling Magazine's 2005 Cost vs. Value report but how much a homeowner actually spends will vary. To find that magic figure, first conduct a thorough and honest examination of your finances to reveal how much you can spend. The National Association of the Remodeling Industry (NARI) offers a budgeting worksheet that makes this easy to do. Bathroom remodeling doesn’t have to cost thousands of dollars. In fact, with $100 (or less) and a Saturday afternoon, you can give your bathroom the radical … (7 comments)
Unless you have the cash in your bank account, paying for serious home improvements can prove a bit difficult in the current housing market. With falling home values over the last 4 years or so, not many people have equity built up in their homes anymore. This lack of equity means it's not easy to get a home equity line of credit from most banks. this in turn makes it difficult for homeowners to add value to their homes through upgrades and remodeling. Sound familiar?
Fortunately, there's an option that's … (0 comments)
A room must conform to specific requirements in order for it to be considered a bedroom or sleeping room. The reason for this law is that the inhabitant must be able to quickly escape in case of fire or another emergency.
Why would a homeowner use a non-conforming room as a bedroom? Some of the reasons include: to earn money from it as a rental. While they run the risk of being discovered by the city, landlords will profit by renting out rooms that are not legally bedrooms; to increase the value of the home. All other considerations being equal, … (11 comments)
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