Create Value if you don't want to pay for it.

Buying the perfect home is ideal but usually comes with a price. In order to purchase the perfect home, you have to be looking pre-construction with many fantastic upgrades. Otherwise, you may be looking at new homes or renovated homes in charming neighborhoods or waterfront locations. Either way, price doesn't make it easy. Why? Because somebody has created that value and you want to consume it.

There are houses out there waiting to be perfect homes at the right cost. Homes that were built when there was land available. These homes were built on larger, irregular lots, or waterfront lots. Unique foliage that escaped large scale development demolition. Character.

Renovating or updating one of these properties can yield an amazing home, with the finishes you want, without having to pay somebody else for bringing out the value. This makes sense, right? So, why don't more people do it? Cash, Credit, and Time.

Most of the home buying these days is done with a small downpayment (5% - 30%) and a large loan (70% - 95%). However, it is difficult to insure homes with termite damage or roof leaks and it is impossible to get finance without insurance. This means that these deals generally need to be purchased with cash, updated to qualify, and then refinanced. Also, in most cases, renovations are going to have to be paid with cash as mortgage lenders won't pay for improvements........just a loan based on the homes value.

There are ways around this. There are lenders that specialize in property renovations, fix and flips as well as other creative structures. We encourage homebuyers to explore this option. Mayfair can be a solution.