(Closed) Geesh!! Remodeling is expensive!! Grants???

posted 8 years ago in Home
Post # 3
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

I have never heard of a home improvement grant.  Unless you have a historical property, I’m not sure why the government would give you free money to fix up your house.

Post # 5
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

Hmm I’d never heard of that before, possibly because my parents were out of the range for government aid.

Post # 6
Member
3295 posts
Sugar bee
  • Wedding: May 2011

why not just take out a home equity loan?

Post # 7
Member
3176 posts
Sugar bee
  • Wedding: May 2011

I’ve heard of grants, but not in terms of remodeling. I’ve only seen them for low income neighborhoods, rural areas or places where they are trying to build up the neighborhood, things like that, and for rehabs when a home is completely destroyed. Check out this site, it may give you more info. Again I’ve never seen it for just wanting to remodel. http://portal.hud.gov/portal/page/portal/HUD/topics/home_improvements

Post # 10
Member
389 posts
Helper bee
  • Wedding: May 2011

I agree with what June said.

Are you wanting to remodel or make repairs? Even after looking at your link it seems the only way you could get something would be if there was a NEED for it, not just a desire. Outside of government assistance which you seem to already know about, I’m not sure there are any grants for remodeling a home just because you want to.

Post # 11
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

From reading that, you would have to have either very poor credit or make very little money and an unsafe home.  Most likely, if you and your husband are working, you aren’t going to qualify for those grants.

Post # 12
Member
3762 posts
Honey bee
  • Wedding: May 2010

If you are just looking to improve your home and update it, there are tons of home improvement things you can do that don’t have to cost an arm and a leg.  Just like a wedding you have to get creative.  

Look at your local Habitat for Humanity website.  They usually have a “store” in the area that is like a goodwill but for home good stuff.  You can buy some nice, basically new things there.  Ours currently has a ton of doors, odd tile, laminate flooring, light fixtures, etc.  Some of the stuff they post on their website but a lot they just have in the store.  

Also, spend some time to really prioritize what you want to do and what it will cost.  Start saving money.  Yes a huge remodel costs big money but if you can save or do it little by little over time its not so bad.  

Post # 13
Member
1220 posts
Bumble bee
  • Wedding: November 2009

Prioritzing is really important.  That and costing things out to see if that $500 new laundry room refinishing is honestly going to balloon into 1k.  Things like that add up.  Paint can be cheap (although I do not rec using cheap paint) and can freshen things up.  Sometimes a good cleaning or simple new fixtures can help.

 

I’d be surprised if the gov’t gave out free money for home improvement projects.  There’s no real return there for the gov’t.  

Post # 15
Hostess
18643 posts
Honey Beekeeper
  • Wedding: June 2009

The only tax benefit you get is being able to deduct the interest on a home equity loan if you itemize and you get to add the amount of renovations to your basis so you have less possible gain when you sell the home later.

Post # 16
Member
4385 posts
Honey bee
  • Wedding: May 2011

There was a tax rebate here in Canada for remodeling, but they stopped the program once the economy rebounded!

Good luck with your renos!

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