A Wet Basement in Ohio and Home Improvement Loans.
Anyone with a basement can tell you: water and moisture is a way of life. Sometimes it’s a bit damp in an Ohio basement. Sometimes it’s a full flood. Either way, homeowners can get frustrated. Before you tear down the house, move out or skip over buying a house with a basement, consider this: home improvement loans like the FHA 203k can help you finance the solution to your Ohio wet basement.
An FHA 203k Standard mortgage can help homeowners or buyers pay for repairs like waterproofing a basement because structural repairs are covered. Waterproofing a basement doesn’t always require structural work, but it might. Imagine having a finished basement that’s waterproof, where you could store all kinds of “stuff” without exposing it to the dangers of dampness. You could also maybe finish the basement with insulation and a big screen TV after you waterproof it. The possibilities are practically endless with the FHA 203k.
Want to move on from the basement? Once that project is finished you could also finance home improvements like:
- Add a bathroom to the house (who couldn’t use another bathroom?)
- Build or repair a deck
- Renovate a kitchen including new appliances
- Replace or repair plumbing
- New siding
- Vinyl replacement windows
- Sill plate replacement
The FHA 203k requires that a licensed contractor do the work (you don’t really want to take all of these projects on yourself anyway). A builder like Holland Remodeling & Building who understands the 203k financing option is a great asset to have on your team. In fact, download “The Ultimate Guide to Home Improvement Loans” at the button below, sponsored by Holland Remodeling & Building to learn more about the FHA 203k and other options for financing home improvements.
(Wet basement photo: Flickr user Andrew Magill)
This is a guest post from Dan Moyle with AmeriFirst Home Mortgage. AmeriFirst is a leading FHA 203k lender. Dan has written hundreds of articles as the inbound marketing expert for AmeriFirst. Find the AmeriFirst blog here.
Using a wet basement can be a depressing prospect. H2o challenges (drinking water leaking in thru the basement walls, flooring or all-around window wells) can produce the basement to scent terrible, mold to expand and cracks to sort and a whole lot worse, weakening your overall groundwork! The worst part is, all of these challenges are extremely pricey to repair. The really good news is that it’s very simple and easy avert these conditions by waterproofing your basement and groundwork.