Rehab Incentive Programs

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While I normally write about Staging (part of our service is preparing homes for sale) I am writing about a great program I came across last month. Some of you may know about these programs, but just in case…..

I'm working with someone in Robbinsdale who is getting her house ready for sale. She has numerous issues that need to be addressed before she can put it on the market. We are installing a new countertop, light fixtures, cabinet hardware, vinyl floors, tile, faucets, quite a bit of bathroom and electrical work.

We came across the Robbinsdale Rehab Incentive Program. This program is managed by the Greater Metropolitan Housing Corporation, Housing Resource Center. http://www.housingresourcecenter.org/loan_programs.htm

If your gross annual income (from all sources) is under $88,990, you may be able to qualify for a rebate of up to $3,000 per household to update your home. The rebates are from 10% to 15% of the cost of the improvements (up to the $3,000).

You must use a Licensed Contractor and there is some paperwork to fill out….but it's really worth it. Plus, at no cost to the Homeowners, a Housing Resource Center's Construction Manager is available to review bids for reasonableness.