A Bungalow Could Be Your Rehab Dream

Have you ever noticed all the attention that the venerable bungalow receives. There are magazines devoted to them. Festivals about them. Communities even have bungalow walks every year where home owners will open up their homes for people to walk through and enjoy all the hard work they have done. A lot of people bought these before the housing crash and began work on them. Many of these were never finished and that has left many of them available on today's market.

If you have cash you could consider one of these partially completed rehabs. They can be very hard to sell because they are not fit to be bank financed sometimes. There really aren't that many people that are able to come up with that much money. You will want to be careful too with one of these. Sometimes they are a good deal and the repairs are nicely done. Other times it will all have to be done over and that could be messy.

Getting financing for an old house can be tricky and you will need to look around and get some quotes from different lenders. The easiest way to do this is to go to one of those websites that you put your financial info into and it will give you five different lenders to check out. At the same time you will want to look into the availability of equity credit lines because you will need some fix up cash for sure.

When you purchase a house with issues, such as advanced age, you will want to look around for special homeowners insurance. It is just a good idea to know what you will have to pay before you commit to a special needs house. There are always ways to try and lower the insurance costs. Your agent can help with this, but they may be things that you were planning on updating anyway, like plumbing and electric.

After you have your financing ready to go and you are armed with insurance information, you will need to look at some houses that have been fixed up. This will give you not only an idea of the possibilities but also let you see the steps that you have to go through. There is a ton of information about fixing up old neglected bungalows, and also there is a lot of help. From cable shows to magazines you will be armed to the teeth with information to use for your new purchase.