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.
Do These Real Estate Tips Really Apply to YOU?
We've learned these tips through years of experience as top REALTORS®. But we know that YOUR situation might be different. That's why we're here.
It's our job to personally advise homebuyers and sellers. Ask us if any tip that we've included here really applies to your situation.
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Barry and Diane Upchurch Barry Upchurch Realty 173 Long Rd. Suite 108 Chesterfield, MO, 63005 314-878-1900 636-530-7727 Fax 1: 636-530-7797 Fax 2: 314-878-1903 upchurch@NUMBER1EXPERT.com
“Exceptional Properties . . .Exceptional Service!” that’s what Diane and Barry Upchurch are all about! Discover the fastest growing real estate team in St. Louis County. We believe in providing guaranteed service with the highest level of integrity. Our vast experience, knowledge, proven results and attention to detail will ensure your satisfaction. Contact us today . . . we’ll make your dream home become a reality for you!
Ranking in the top ½ % of Realtors in St. Louis, Barry and Diane have both earned the CRS (Certified Residential Specialist), ABR (Accredited Buyers Representative) and GRI (Graduate of the Realtors Institute) credentials. With over $150 million sold, we thank our past clients for the steady stream of referrals and repeat business.
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