203k Inspection | Eligible Home Improvements With a 203k Loan
203k Inspection | The HUD 203k loan is a great way to purchase a home that needs some work and have the funds to do something about it. The best way to get the full spectrum of items that need to be repaired is with a 203k inspection. The 203k inspection will show you what needs to be renovated and help you to get an idea of the costs that will be associated with the renovations.
To qualify for the 203k loan, the renovations need to be included on the qualified repairs list.The full list of qualified repairs can be found on the HUD website but here are a few of the top renovations that you can make with the 203k loan.
Certain room renovations fall under the 203k loan qualified repairs. With the 203k loan you can remodel the bathroom, kitchen (including new built in appliances), basement conversions and attic conversions.
With the 203k loan you can receive funds to add a family room, bedrooms, bathrooms or even an entire second story. You can also expand or build a garage or carport with this loan.
Structural and Exterior Updates
You can renovate deteriorating property items such as structural problems, termite damage and a broken chimney. You can also replace a roof, gutters, downspouts, a porch, deck or patio with the 203k loan.
When looking into a 203k loan for your next home purchase you should also be considering a 203k inspection along with it. If you live in the Tampa area, you should give the professionals at Beryl Project Engineering and Inspection a call (813-616-3301) for your 203k inspection needs. The will provide you with the quality service you need to make one of the largest financial decisions you will make over your lifetime.