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School Reports in Hallandale, Sunny Isles and Aventura, Florida

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Financing Your Home >Finicky Financiers

Buying an old house to fix up has an attraction for many people. If you can find a house with charm and character, a renovation may enable you to create just the living environment that you want. You should start with a good real estate agent to help you locate the right house and recommend lenders who make both acquisition and construction loans.

Financing a renovation is perhaps the most difficult part of the whole project, especially if the house needs extensive work. Few banks will make these loans to people who are not professional developers. You should prepare for your loan application by having a written proposal. It helps to have an engineer's report or architectural plans and to include estimates from contractors covering the costs and timetables for the work to be done. Your real estate agent can help you put together a market analysis of the neighborhood to show that you will not be over-improving the property compared with other homes in the area.

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Q	What celebrity home sold recently for a reported $5.5 million, despite its yellow-and-rust striped paint job?
A	This Hollywood Hills residence was the former home of the popular singer, Madonna.
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Arnowitz and Associates, REALTORŽ, real estate agent and broker for Aventura, Miami Beach and Miami, Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

Bradley E. Arnowitz PA, RPS, CLHMS
Re/Max Beach Properties
1355 Alton Road, FL 33139
24/7: 305.776.6113
Office: 954.883.3700 x 122
Facsimile: 305.402.0707
ClientCare@ArnowitzProperties.com
Re/Max Hall of Fame
Founder, The Institute for Luxury Home Marketing
Renowned Property Specialist
Certified Luxury Home Markeing Specialist
Voted "Best Local Realtor" Miami Sun Times
Miami Beach Area Council Chair, Realtor Association of Miami & The Beaches

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