About the Road to Ownership Program
The Road to Ownership program has been developed by Puget Sound Builders (PSBA) to support the growing demand and limited supply of quality housing. Many first time homebuyers find themselves limited to a housing inventory that is severely distressed and often times not livable. However, many of these homes have the potential to be diamonds in the rough if you know what to look for and you understand some basic criteria.
PSBA is an expert in taking functionally and physically obsolete homes and restoring them to contemporary specifications and floor plans. Our creative expertise redefines the available inventory by opening up a market that was dominated by savvy investors. Our Road to Ownership program allows first time homebuyers to not only participate in this profitable market, but also take advantage of the First Look opportunity provided in most bank owned properties. This allows the buyer to find an available house much quicker without lowering their expectations.
The Road to Ownership program is simple. It is supported by rehabilitation loan programs. They allow a homeowner to purchase a distressed home that needs work at undervalue prices and restore home all within the loan.
Here are some answers to commonly asked questions about the Road to Ownership program.
Q: The 203K program seems complex and I don’t know how it works?
A: The Road to Ownership program has simplified the 203k program by designing it into a menu approach leaving it easier for client and real estate agent to easily estimate the cost of remodel.
Q: I don’t know much about construction and I don’t know any contractors so I feel unqualified to manage a remodel project?
A: PSBA is a licensed general contractor with experience and ability to handle all phases of remodel project.
Q: Real Estate agents seem to avoid 203k because it takes more time and traditionally meant smaller commissions?
A: PSBA handles all bidding for remodel and Road to Ownership pays the selling agent a 3% sales bonus on the construction amount. The result is no impact on commission for agents.
Q: I’m not sure what characteristics to look for in a remodel house?
A: PSBA is training agents on what to look for with distressed properties. In addition, PSBA provides floor plan rendering of house on both the Signature and Elite products so the client can see the floor plan before construction begins.
Q: My lease is coming due and I need to know when I can move out?
A: PSBA is committed to a turn-key system and is able to execute a timeline for construction so homeowner is able to plan for a move-in date.
Q: How do I know what features are included in a remodel?
A: PSBA will outline a Standard Features Addendum for each program so homeowner knows exactly what they should expect.
Q: Do I have the ability to choose any of the finishes in house?
A: Yes. We offer three choices for exterior paint, cabinet colors, granite counter-tops, carpet, vinyl, laminate and countertops.
The Savings Is Clear
| INVESTOR VS. HOMEOWNER | INVESTOR | HOMEOWNER |
| Acquisition Price | $65,000 | $65,000 |
| Hard money fees to acquire and hold property | $10,000 | $0.00 |
| Amount of Construction | $70,000 | $70,000 |
| Sales Costs | $16,000 | $0.00 |
| Finished Price | $159,000 | $135,000 |
Below is a list of the non-profit organizations we support. For every closed transaction through the Road to Ownership program, a $1000 donation will be made to one of the following organizations.
Care Net is a Christ-centered ministry whose mission is to promote a culture of life within our society in order to serve people facing unplanned pregnancies and related sexual issues.
YMCA Friends & Servants empowers troubled youth to become successful, contributing members of society. Friends & Servants works closely with local organizations and agencies to provide a comprehensive solution for teens, with a broad range of programs, services and activities to offer support, guidance, opportunity, and encouragement to meet the physical, emotional and spiritual needs of our youth.
Shared Hope International exists to rescue and restore women and children in crisis. We are leaders in a worldwide effort to prevent and eradicate sex trafficking and slavery through education and public awareness.
Get in touch with us for a free, no-obligation consultation!
Send us a message and we’ll be in touch shortly!
Call, email, or stop by:
Phone: 253.584.0698
Email: info@roadtoownership.com
Address:
10524 Bridgeport Way SW Suite B
Lakewood, WA 98499
View Larger Map
