11.19.09
Get Your Permits To Improve Your Columbus Investment Property
Obtaining a building or remodelling permit can cause untold headaches to the home investor because of the out of pocket cost. When purchasing columbus investment property, you can be assured that there will be a need for some kind of permit. Those who don’t have a permit will be subjected to fines and may be ordered to stop work.
Permits come in different rates and fees without any flat rates for building permits. The building permit cost is usually 1% of the estimated market value of the home once it is on the market. A building permit for a home estimated at $350,000 will be around $3,500. You will need to find out what your city’s requirements are for filling out the paperwork and showing proof of ownership for obtaining your building permit.
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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