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Real Estate Tips
Financing Your Home >Finicky Financiers

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.

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Real Estate Trivia
Q 
What was the first territorial acquisition made by the U.S. Government?

A 
The Louisiana Purchase from France in 1803 for $15,000,000 increased U.S. national territory by 140%.
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Judy Taub, REALTOR®, real estate agents and broker for Johnson City, Erwin TN and Asheville NC Tennessee home listings, property and land for sale - NUMBER1EXPERT™

The Judy Taub Team
Preferred Realty

206 2nd Street
Erwin, TN 37650
423-743-1900
Fax: (423)743-1909
judytaub@NUMBER1EXPERT.com


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