So there is an older home that you drive by every day that is up for sale. You want to buy it and restore it because you can visualize the home's original beauty. The problem is that you cannot afford to do all the work that needs doing. The good news is that you can find grants to fix up that older home to live in yourself or sell to make a profit.
Matching Grants
Some historical societies and other organizations have the funding to give you, though not usually the entire amount
for your restoration project. If you can tell them you have a certain amount of money and show them how much the project is going to cost, they may give you a matching grant. This type of grant is often from local governments, such as city, county or even the state. Read the fine print when applying for a matching grant as some of them will not give you money upfront, but instead reimburse you for money spent up to a certain amount.
Tax Incentives
Tax incentives are another way you can get money, often in the form of rebates or tax deductions, when you want to restore you older home. These tax incentives change from year to year, as well as the allowable amount of money. Many of these tax incentives allow you to fix up an older home and make it more economical. Some of the things that you can do is to update your heating and cooling system and put in windows that are more air tight. With many tax incentives that is a cap on the amount you spend as well as a deadline.
Historic Restoration
There are both public and private organizations that offer money for those who want to restore an older home. As with any grant you must follow their guidelines and make sure you qualify before even filling out the applications. These grants will give you money to help restore your home if its age falls within a certain number of years or a certain time period in history. If you home is located in an area of town that is designated as a historical section, then you may be able to get grant money, especially if your locality is trying to revamp the historical areas of your town. Keep in mind that many of these organizations give you some limits as far as your design choices. For example, you cannot take an 1800s home and make it ultra-modern on the inside. You will need to preserve the character of the home and restore it to what it once was.
Low-Income Grants
If your income falls below the poverty line for your community making it difficult for you to make any necessary repairs to your home, you may be eligible for a grant. These grants can only be used to make necessary repairs on your home so that it is comfortable for you, not necessarily restore it to its original state. Research your local government for grants if you need help in fixing up your home to make it livable.
Tags: older home, your home, home make, want restore, amount money, certain amount, give money
