Making Home Upgrades? Why & When You Need Permits.

Making Home Upgrades? Why & When You Need Permits.

Finance Renovations with an Oregon Hard Money Loan

Making upgrades and improvements to your investment property helps ensure its value and ROI.

If you’re flipping a house or thinking of renovating a property, getting the proper building permits is a must.

It might be tempting to bypass the permit process. But you’ll inevitably pay for it in the long term. Unpermitted work will likely come to light when you’re ready to sell and could be costly to correct.

Here are insights into the what’s, why’s, when’s and how’s of building permits.

What is a Building Permit & Why Do You Need One?

Building permits are official permissions granted by a city or town that allow you to perform specified home improvement projects at your property. Permits must be applied for and granted prior to the start of construction.

Permits are required for both new construction and renovations, as well as for major repairs. They help ensure that work is done safely and up to code. The public has access to building permits; potential buyers can check to see if required permits were pulled for work done on property you have on the market. So keeping home improvements properly permitted pays off.

How & When to Get a Building Permit

Information you’ll need to complete a permit application will generally include:

  • Contact information
  • Property address
  • Project description, drawings & timeline
  • Names of architect and general contractor, if applicable

Contact your local building department to confirm the application procedure, fees and all requirements before submitting your permit application. Be ready to supply additional information if requested, and keep written record of all communications.

Local building officials review and approve permit applications. Fees are usually collected at the time of application. Fees, rules and regulations vary from community to community and state to state. Project scope may also determine fee amount and requirements.

Once a permit to build is approved, work must typically begin within six months to a year and be completed between a year to a year and a half, depending on complexity.

You may be denied your permit request. If so, you’ll be told why and you will have opportunity to resubmit.

What do you need a building permit for? If you’re making structural or plumbing changes, adding or removing walls, demolishing a portion of a property, finishing off a basement or attic, building a deck, or adding a structure to your property, you will need a permit. Building a shed, patio or fence, or replacing windows may or may not require a permit depending on the project and local regulations.

Contractors and installers will often take on the permitting process. Be sure to check, depending on your project.

You can do minor home improvements like replacing carpets, painting, replacing cabinets or most appliances, landscaping, or staining a deck without a permit.

By making the extra effort to permit your home improvement projects, you can rest assured that your investment will fully retain its value today – and long term.

Our Private Lending Team Makes Upgrade Projects Simple

When you’re ready to upgrade, talk to our loan team at Gregory M. Russell. Our hard money loans are a great option for real estate investors looking for fast, flexible financing to improve their property. Unlike traditional lenders, our asset-based loans are streamlined and easy qualify, and your credit and job history are secondary. If you have available equity, you can have cash in hand for your renovation project in ten days or less. So, if waiting on building permits has put a kink in your project timeline, give us a call at 1-888-477-0444 or complete our online request form. A direct funded, hard money loan can be a great fit.