Buying an old house to fix up has an attraction for many people. If you can find a house with charm and character, a renovation may enable you to create just the living environment that you want. You should start with a good real estate agent to help you locate the right house and recommend lenders who make both acquisition and construction loans.
Financing a renovation is perhaps the most difficult part of the whole project, especially if the house needs extensive work. Few banks will make these loans to people who are not professional developers. You should prepare for your loan application by having a written proposal. It helps to have an engineer's report or architectural plans and to include estimates from contractors covering the costs and timetables for the work to be done. Your real estate agent can help you put together a market analysis of the neighborhood to show that you will not be over-improving the property compared with other homes in the area.
To Learn More, Call Bill at (302) 841-7147
Bill Cullin
Your Real Estate Source at the Delaware Beaches
Websites:
www.DelawareBeachRE.com
www.TheHenlopen.com
Cell: 302-841-7147
Office: 302-227-2541
Toll Free: 1-800-GO-BEACH, ext. 117
Fax: 302-227-8165
Long and Foster | Christies International Real Estate
37156 Rehoboth Avenue Ext, Suite 5
Rehoboth Beach, Delaware 19971
• Top Individual Agent Long & Foster Rehoboth Office for 13 consecutive years
• Long & Foster’s Top Selling Individual Agent in the entire State of Delaware for 2 consecutive years
• Long & Foster’s Top Selling Individual Agent in the Coastal Region for 3 consecutive years
• Five Star Professional Award Winning Sales Agent (based on client surveys) for 7 consecutive years
• Member of Long & Foster’s Gold Team. Founders Club Level, with sales volume of 10 to 20 million dollars per year. For 6 consecutive years.
• Zillow.com and Trulia.com 5 Star Professional 10 Consecutive years with Best of Zillow designation be awarded last year. Click Here for see client reviews online
• Top Selling Agent at The Henlopen Condominiums over the past 13 years
