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Un-tap the value of your house! Fore Group can redesign your home to improve on aesthetics, curb appeal, functionality and quality of construction. Most importantly you will probably end up with more net worth than when you started. Fore Group works with Farmington Savings Bank to identify opportunities to un-tap equity value in your property.
How Does it Work? Fore Group will work with the owner to identify improvement opportunities such as the kitchen, bathrooms, interior and exterior trim, flooring, landscaping and other areas. We will also identify and address structural or maintenance concerns such as cracking walls, aging roofs, warped doors, capped floors, inefficient heating and cooling systems, etc.
Farmington Savings Bank will provide an equity line of credit if needed to cover the cost of the redesign. The Bank will also appraise the house before and after to ensure value creation in the project.
A recent renovation cost $155,000 and increased the appraised value of the house by $260,000 (from $342,000 to $602,000). In other words the owners increased their equity by 105,000 (or approximately 30%) within six months, while dramatically improving the interior and exterior quality and aesthetic of their residence.
Ideal Extreme Makeovers! candidates:
- Contemporary homes that can be transformed to more traditional colonials.
- Older homes that sit on relatively expensive land.
- Homes with unfinished square footage (basement, attics, etc.)
- Homes with minimal landscaping (adding, decks, walkways, patios, improving the lawn and plantings).
- Homes that are relatively modest compared to their neighborhood.
- Homes that can be added to (vertically or horizontally).
We treat redesign projects as a win-win proposition for all parties involved. As such Fore Group will undertake a limited number of projects that have significant potential equity gains for the homeowners, and they are expansive enough in scope to justify mobilizing our resources and partners.
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