During one of our dinners with Seng, we were discussing about buying and investing new homes and properties. Seng has lived in San Francisco in the last 20 years and is considering buying a place of his own. According to him, the property prices in SF have not stopped rising in the last few years. That makes it challenging to afford a place. When buying an existing home, you also need to budget for renovation and remodelling costs, which can be a hefty sum, depending on material costs, design and architectural changes.
So one way to afford is to consider construction loans as they help to provide enough for the purchase of the property as well as the construction costs. Seng had found some useful remodeling loan information on the internet which explained clearly on how he could include all repair, renovation and expansion expenses in the remodelling construction loan program which included fixing a new roof, designing a new kitchen or bathroom, changing existing flooring etc. The website also provided comprehensive construction loan information for new home owners like himself.
Well, I do hope that by the time we visit Seng in SF, he is already a proud home owner. I can sense that Clayton is already missing Uncle Seng... we are looking forward to see him this Christmas in LA.
