The high cost of land in most
metropolitan areas is making the nofrills
starter home go the way of the
six-ounce Coke. More and more,
affordable housing in metro areas will
mean "fixer-uppers," in many cases
subsidized by a governmental agency.
A number of subsidized rehab programs
use private-sector contractors
to do repair work for the owner/occupants
of rundown houses. The owners
qualify for grants or low-interest loans
because of their low-income status.
My personal experience with these
programs comes from consulting with
cities, writing their guidelines and
specifications, and conducting seminars
on the topic. I found that most
contractors who got involved with
public-sector rehab were in for a number
of surprises.
Several factors set these grant and
loan programs apart