Now is a Good Time to Upgrade! Request a Washington Hard Money Loan.
Home sales are on the rise. But the current economic slowdown has led to a slowdown in construction and remodeling.
Real estate investors should find that architects and contractors are becoming more available, making now a great time to undertake property upgrades.
Housing trends indicate that homes designed to appeal to the country’s fastest growing population are a smart investment. Homeowners in the US are showing an increasing interest in aging in place. So whether you’re thinking about upgrades for your own home or flipping an investment property, consider these tips for a successful aging-in-place renovation.
Age-in-Place Home Upgrade Tips
- Cost: Features important to aging in place are not the flashiest or most expensive, but focus on safety, practicality, and efficiency. A walk in shower is a need; a top-of-the-line bathroom redo is a want.
- Prioritize: If budget is an issue, start with small, more affordable upgrades first. Bathroom grab bars, door cabinet handles and lighting are simple but effective upgrades. Take on bathroom, kitchen, flooring and other larger renovations as finances allow.
- Bids: Get multiple line item bids – three is standard. Be sure estimates are thoroughly outlined. The slowdown may even allow for some negotiation with contractors.
- Materials: Pay close attention to the materials sourced in each bid. If they are either too cheap or higher in quality and cost than really needed they can adversely affect a job quote and make comparisons difficult.
- Subcontractors: Similarly, get information about subcontractors before signing with any contractor. Work quality, rates and reputation are all important considerations. And with signs that the market may be slowing, don’t be afraid to ask to negotiate.
Our Washington Hard Money Loan Team is Here to Help
Gregory M. Russell is a Washington private money lender with over 30 years’ experience lending to investors. We have a deep understanding of the Northwest real estate market and are here to provide financing when conventional lenders say no. If you have available equity, our easy apply hard money loans will provide you the fast cash financing you need – no matter what your credit history is. Call 1-888-477-0444 to learn more or complete our simple online request form.