Maxwell Building Services: The Best Choice for Interior Remodeling Projects
Interior remodeling is an excellent way to transform your living space. An important key to the success of your project is choosing the right expert home remodeling contractor to partner with. Most homeowners have ideas about how a room should look, and the right builder will execute that design to bring purpose, function and beauty to that space. A successful remodeling project will result in the best return on your investment.
The Experience You Deserve
Spaces that no longer work in your home can create frustration. Remodel project mistakes can also be overwhelming. This is why it is important to research and find a builder who has a reputation for quality workmanship and meeting customer’s specific needs. True construction professionals are there to guide you through these essential steps of the interior remodeling process:
- Concept: The purpose of a space drives the overall design process. Popular designs such as open-concept areas must be able to blend the functions of combined rooms while making important distinctions about specific uses.
- Design: Good designs mean spaces will be efficient in the long run. Designs should incorporate how rooms are currently being used, with the flexibility to change the spaces around for new uses without major renovations.
- Budget: Remodel budgets should take into consideration additional costs that always crop up throughout a project. Some professionals suggest reserve funds of up to 20% for changes and unexpected costs. The most important part is to be realistic about what is affordable from the start. Let your contractor know what you want to achieve, so the details can be discussed ahead of time.
- Time: Many interior refinishing jobs run over schedule. This is typically caused by add-on work or by unanticipated construction problems. Talk directly with your contractor about how they manage these issues and setbacks, and ask about their record for bringing projects in on time or near projected completion dates.
Take advantage of the creative and intuitive expertise of your builder. They can help you accomplish your vision by determining where to cut expenses and where to enhance designs for the best remodel experience to fit your budget and lifestyle.
Interior Remodeling Projects You Should Consider
Most interior remodeling projects choose themselves as spaces become increasingly less serviceable over the years. Sometimes, entire homes need updating, so the spaces work for growing families or changing needs. Remodel projects bring both property and aesthetic value to homes.
- Kitchens: Kitchens are one of the most frequently remodeled rooms in any home and average a 90% ROI. Efficient design and quality products are top components for great kitchen renovations.
- Living rooms: Living rooms may need updates like fresh paint and fixtures or complete renovations. Comfort, warmth and spaciousness are important characteristics of functional living room designs.
- Basements: Basement remodels can transform underused space into entirely new living areas. Basement renovations can increase your home value, so it’s important to choose a design that has the amenities and quality you will enjoy, and buyers will appreciate.
- Additions: Home additions are a great way to add square footage. The important part is to make it seamlessly blend with the existing interior and exterior of your home.
Other popular projects include home offices and recreational spaces, such as gyms and home theaters. If you are stumped about where to begin, get a professional builder to assess how best to meet your current needs and to help develop a plan for future projects.
A Professional Builder with the Know-How You Need
Maxwell Building Services is the premier renovation contractor in the greater Macomb and Oakland County area, with the design expertise and highly skilled professional builders you need for all of your interior remodeling projects. Please call today (586) 315-2663 for professional consultations and estimates.
FHA 203k Remodeling
An FHA 203k loan, (sometimes called a Rehab Loan or FHA Construction loan) allows you to finance not one, but two major items 1) the house itself, and; 2) needed/wanted repairs. Because the lender tracks and verifies repairs, it is willing to approve a loan on a home it wouldn’t otherwise consider. The loan addresses a common problem when buying a fixer home: lenders often don’t approve loans for homes in need of major repairs. A home must meet certain safety and livability standards. Some home buyers are handy enough to buy the house and fix it up themselves. But, if the home is too run down, you can’t get a loan in the first place. The 203k lets you buy and fix up a house in one transaction, allowing the lender to approve the loan despite its initial condition. Maxwell Building Services are 203k loan contractors that can help you with remodeling and installation after your loan is approved.
There are two types of 203k loans. Which one you choose depends on the extent of the repair work.
Limited 203k mortgage (formerly known as the 203k Streamline)
This option allows you to do most cosmetic repair work. Things like kitchens and bathrooms.
The stated limit to costs is $35,000. However, an FHA 203k loan requires a “buffer” equal to 15 percent of the total bids. This buffer is called a contingency. It’s a “just in case” fund to cover cost overruns by your FHA loan contractor. (If the contingency fund is not used, it is credited back to you). So, your “real” maximum repair job can cost around $31,000.
Most non-structural, non-luxury items are acceptable:
- Kitchen and bathroom remodels
- Appliance replacement
- Carpet and flooring
- Roof replacement
- Repairing safety and health issues
- Energy-efficient improvements
- And much more
In short, you can’t do anything structural (move load-bearing walls, add rooms) or change the footprint of the home.
So why choose the Limited 203k option? Because more lenders offer it than the full 203k. And, it’s a much simpler process than the standard option.
With this option, you can do just about anything you want to the home, except non-permanent changes or adding luxury amenities.
- Convert a one-family home into a 2-, 3-, or 4-unit home, or vice versa
- Connect to public sewer or water
- Some larger landscaping projects
- Improve accessibility for disabled persons
- Move the house to a different site
If you are interested in FHA 203k loan remodeling, call us today to speak to someone at our FHA 203k remodeling firm. An FHA 203k loan contractor will speak with you about your best options and answer any lingering questions you may have.