How you can utilize a renovation program through your county.

Are there renovation programs that I can utilize that are through the county? Yes, renovation programs are plentiful. You can choose from many different methods. However, I’ll specifically talk about going through the county.

There is a program in Broward County called the PACE Program, which works by putting a lien on the property through your taxes. You’ll be able to do any type of renovation except for landscaping. Once you do your renovations, the county will then put it in your taxes, so it typically takes about two years for it to show up and start making payments. However, your renovations have to be paid off and the title has to be lien-free before you can sell the property.  For instance, if you received $50,000 for renovations, we have to deduct whatever the balance is on those renovations during that time frame.

“The PACE Program works by putting a lien on the property through your taxes.”

Keep in mind that if you are going to use a program through the county, and it shows up on your taxes, it’s going to make your taxes look inflated for the buyer. When a buyer is looking for mortgages, the lender is going to use the taxes for the current year, which are going to be your taxes. If your taxes are higher, that means that that buyer may not qualify.

However, there are certain programs like Ygrene that act in a quasi-county manner. They can do something similar and put it in your taxes. That’s something you should reach out to your county representative about. They can go into much greater detail.

If you have any other questions, please feel free to call or email me. I look forward to helping you. Have a great day!