Quarve Contracting
Friday 9 November 2012

Renovating an Older Building? Funding Options For Home Restoration

Posted by at 9:02 AM

Old homes and buildings have a charm that modern construction is hard-pressed to match.  But most older structures require substantial renovation, and restoring any old building is a big job.  Exterior home improvement as well as interior remodeling needs can be substantial.  Anyone who has given it a try knows how much time, effort and money goes into it. Sometimes, the frustration of the task at hand can get pretty overwhelming.  Before you give up, here some options you may not realize you have.

Check Your Status:  If you’re trying to bring your home back to its original state, check with local conservation groups. They may be able to help you with the funding. If your property happens to be an old library or fire station, there may be funding available from your state.

Tax Credits:  If your home happens to be on the National Register of Historic Places or in a historic district, you may be eligible for tax credits or funding from organizations with an interest in preserving historic buildings. Friends and Family:  Never forget the support you can get from friends and family with similar interests. Inviting a few loved ones over to take a look at your progress can provide sorely needed moral support and perhaps some offers of labor or financial help. Get Neighbors Involved: If you happen to live in a historic community, odds are the neighbors are also interested in restoring homes in their area. A neighborhood barbecue or block party would be a great end to a few days full of hard work. Making new friends is always a good thing, as well. Renovation and remodeling projects often involve unforeseen expenses.   Budgets rarely compensate for minor, or major, emergencies which pop up over the course of the work. It’s always smart to put a bit of cash aside before you begin work for those unforeseen situations. Planning ahead as much as possible always takes stress out of the process. There’s no denying that home restoration and remodeling can take a lot out of a person. However, when others pitch in to help, the finished product will also become a symbol of what community effort can do.