Getting Permits To Repair And Remodel Your Columbus Investment Property
Most homeowners dislike paying for permits because the cost is out of pocket before they see a return on their investment. Minor and major repairs and rehab in columbus investment property will require permits. Building, repairing or remodelling without the appropriate permits will cost you money in fines, and you might be ordered to cease working on your project.
Each permit is a different fee and there is no flat rate for building permits. The cost of the building permit is estimated based on 1% of the market value of the home. A home with an estimated final market value of $500,000 will have a building permit cost of $5,000. You need to be sure that you’ve met the requirements of your local government in order to obtain your building permits.
Be aware that before you can obtain a building permit you will need to show the proper documentation. Sometimes, you might not have all the documentation you need to get the building permit. Your county building department will let you know if there is anything missing from your pile so that you can be sure you have everything. They might tell you that you need to bring in building plans, a survey of the property, the actual application, and payment for the building permit.
Even with a building permit, you can expect a visit from the inspector to check over the property for code violations. Having your permits with you at all times is a great way to be prepared for that visit from the building inspector. This is just the beginning of what it takes to get your columbus investment property ready for the market. Your property will require a visit from inspectors that specialize in different areas: health, plumbing, and electrical are a few.
Not only that, but you can expect a visit from a financial officer if you are doing business with a mortgage company. The financial officer is there to make sure that the lender’s money is being used appropriately. If there are any changes in the plans from what you presented to the lender, there will be some explaining to do. So save some nightmares and stick to the original plan.
Getting an early start is a great way to get through the permits, inspections and applications quickly. It’s worth the effort in the end, as you’ll have a well built house that will last for years to come. You’ll see a great return on your time invested in the columbus investment property once you see the huge list of interested buyers.
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