Remodel & Renovate in Tampa>Question Details

Yrod0610, Home Buyer in Tampa, FL

Demolishing and Rebuilding a home in Tampa, FL

Asked by Yrod0610, Tampa, FL Sun Feb 21, 2010

We own a 1961, 1200 sq foot house in Seminole Heights. To be honest, everything in the house is outdated and the previous owner smoked, so there iseven a thick layer of tar of the walls that doesn't go away. Instead of trying to remodel the house one room at a time, we have thought about tearing the entire thing down and starting fresh. Could anyone give me advise about where to start this process?

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5
I find that most people who decide to tear down a home have actually purchased the home with that specific intent. They have usually made all the arrangements in advance, which makes the entire process of teardown and building easier, and usually more financially viable. Both options may work for you, but it really depends on a lot of different factors. A few that come to mind are the actual goals, wish lists, and objectives you would have in a remodeling project vs a building project, your budget and ability to finance if necessary, and the values and ages of the homes in your neighborhood.
A realtor who is active in your neighborhood will be able to help you determine if building a new home would be a wise investment, or not, based on the other homes around yours. They will also be able to give you some information that will give you an idea of how much you could wisely invest into your home should you decide to remodel it.
In addition, a good contractor can also help you to review your options. Since you are trying to decide between remodeling and building it will help if you talk to contractors who do both, of which I am one and would be happy to help. When it comes to contractors, the best advice is to always meet with at least three. You will get different perspectives and ideas and will also be able to choose the one that best fits your needs.

Good luck...
0 votes Thank Flag Link Fri Mar 5, 2010
Check out a 203K FHA mortgage first. It may be the lowest cost way to completely remodel the house but I believe you may have to keep one wall up to get the favorable financing. I'm not an expert but you can call a Direct Lender that is approved for 203K mortgages to get helpful advice on how to proceed.

Do a search on HUD's site and make sure to click the 203K box at bottom:
http://www.hud.gov/ll/code/llslcrit.cfm

Good luck!

Alma
0 votes Thank Flag Link Mon Feb 22, 2010
If you have a mortgage on your property, have a discussion with the mortgage holder before you destroy their collateral. You may not receive approval. How are you financing the demolition of the house & rebuiliding of a new one? Have you applied for a construction loan? In my area of the country (Northeast OH), it's better to keep a portion of the home so you are only pulling a permit for a remodel/renovation rather than a permit for a new home. The restrictions & approvals are much less strict than a rcomplete rebuild.
0 votes Thank Flag Link Sun Feb 21, 2010
Your local building department will provide you with all the information you need.
From a builders standpoint, and depending on your budget, you might just want to tear it down to the subfloor and rebuild from there.
A good amount of costs comes from the foundation .
0 votes Thank Flag Link Sun Feb 21, 2010
Talk to Hillsborough County they can explain what you have to do.
0 votes Thank Flag Link Sun Feb 21, 2010
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