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What Can Housing Grants Be Used For?

by Grants.com
Housing grants are a great way to meet your housing needs for those wanting to buy a first home or a larger house for a growing family. There might be money available and waiting for you to help with your housing situation right now. Housing grants can be applied to moving to a new home, remodeling or fixing an existing home, keeping up with property taxes or any number of other housing related items. There are even grants available for those who plan to buy or build rental properties.



Existing Homes - There could be state and local grant money available right now to remodel your existing home. Or there may be federal funds available to help you repair or remodel your home due to zoning classifications like historic districts. Instead of taking out a costly second mortgage to improve your home, a housing grant might allow you to renovate without spending any of your own money.

New Homes - Housing grants to purchase new homes are becoming more prevalent each year. The Federal Government thinks it is important to help own their own homes and makes grant money available for that specific purpose. The economy is better when people own their own homes because it makes for a happier and more productive society overall.

Rental Homes - Housing grants available to create new rental properties can make your dream of becoming a landlord a reality. The cost of building rental properties and apartments can be greatly offset with a housing grant. In some areas, both state and federal housing grants can be combined to build commercial projects.