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Real Estate Tips
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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Real Estate Trivia
Q 
In what movie did a cute extra-terrestrial take refuge in a California home on a cul-de-sac with a mountain peak towering behind it?

A 
Steven Spielberg's 1982 classic "E.T." was filmed in a real house on Lonzo Street, Tujunga, northeast of the San Fernando Valley.
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Jamie Silverman, REALTOR®, real estate agent and broker for Livingston, Short Hills and Millburn, New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Jamie Silverman
Keller Williams Realty

488 Springfield Avenue
Summit NJ 07901
Phone: 973- 376- 0033
Mobile: 973-632-9913
Fax: 973-255-1025
Email: sjjsilver@aol.com

With many years of experience in residential real estate, Jamie is a Top Producer Realtor with Keller Williams Realty. She specializes in Essex, Union and Morris counties of NJ. Contact her will all your real estate needs.

REALTORMLSEqual Housing


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