This first time homeowner located in Dallas, TX put dedication into searching for the right house and she was not afraid to encounter a home that needed some work to be done. Her priority was remodeling the kitchen, and through the help of the FHA 203k Standard Renovation Loan and a consultant to manage the drawings and inspections, her home remodel is underway.
The project was all about the kitchen! The budget was used to remove the wall between the kitchen and dining room, turning it into an open kitchen. After that, the kitchen received new cabinets and marble tile flooring. But, that was not enough to stop the changes...there was the addition of a nook, pantry, and a sun room! Some of the not so exciting but needed repairs also happened, including the update of electrical, plumbing, and insulation repairs.
Through the 203K Standard Renovation Loan, she was able to receive a total budget of $60,000. With the remodeling of the kitchen, the house increased about 26% in its value. Take at the chart below to find out more details:
After Improved Value
Excited to see how the house turned out? Stay tuned for some after pictures! Our team is thrilled to help one more person acquire their dream house and our client's testimonials are the best:
Professional, knowledgeable, and on top of things. Friendly, too and always available.
There will be a 10 to 20% Contingency Reserve built in on top of the renovation bid for anything unforeseen that was to come up during construction...the little "uh oh fund" will already be in place. If the Contingency is not needed, the funds will be applied to the principle of the loan amount.