Affordable Housing Opportunity: 1.1 Acres with Renovation Potential – A Great Investment for Owner-Occupants
This 1.1-acre property offers a fantastic opportunity for qualified buyers looking to invest in their future with affordable housing benefits through Torrington Affordable Homes (TAH). If you’ve been dreaming of owning a home and don’t mind rolling up your sleeves for a renovation project, this property may be the perfect fit for you.
Key Property Details:
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Owner-Occupant Requirement: To qualify for this opportunity, buyers must plan to live in the home as their primary residence and meet the income and credit guidelines set by Torrington Affordable Homes (TAH). This ensures that the home remains an affordable option for those who are eligible. Even cash buyers must adhere to this requirement.
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Investor Purchases Prohibited: To maintain the affordability and accessibility of this home, investor purchases are strictly prohibited. This property is designed for owner-occupants who are looking for a personal residence with room for improvement.
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Major Renovation Needed: The home requires extensive renovations and is being sold “as-is.” It’s a project that will require vision, effort, and investment to bring it back to life. Buyers should be prepared to put in the work, but the potential rewards are well worth the effort.
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Financing Options: The property is available for cash purchases or financing through a renovation loan (such as a rehab loan). Cash buyers must secure a construction loan approved by TAH to ensure the necessary renovations are completed within the timeframe set by the guidelines.
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Utilities: The property currently has a septic system, but city sewer hookup is available on the street. Buyers should be aware of this when planning renovations and future improvements.
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No Seller Repairs: The home is being sold in its current condition, and the seller will not make any repairs. This is an opportunity for buyers who are comfortable with taking on a fixer-upper project.
Why This Property is a Great Opportunity:
This affordable housing opportunity is perfect for someone looking to create their dream home while taking advantage of the benefits provided by Torrington Affordable Homes (TAH). With a generous 1.1-acre lot, you have plenty of space to expand, add outdoor amenities, or create a beautiful garden.
Whether you’re a first-time homebuyer or looking for a property with plenty of potential for growth, this property offers an exciting canvas for renovation. The combination of affordable housing and renovation potential makes it an investment that could provide long-term value once completed.
Location and Community Benefits:
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The property is situated in a convenient area, with easy access to local amenities such as grocery stores, schools, and public services. The surrounding neighborhood is well-established and offers a peaceful environment for families, retirees, or anyone looking for a suburban lifestyle with room to grow.
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The 1.1-acre lot offers ample outdoor space for recreation, gardening, or even future expansions. You’ll have room to design your own outdoor oasis while making improvements to the home.
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Torrington Affordable Homes (TAH) ensures that the property remains a practical and affordable housing solution for qualifying buyers. By meeting their criteria, you’ll be part of a program that helps make homeownership achievable for individuals and families who might otherwise struggle with the costs of homeownership.
A Chance to Turn Vision into Reality:
If you have a vision for what this property could become, this is your chance to make it happen. The home’s current condition provides a blank slate for the right buyer who is ready to take on a renovation project. With the right improvements, this could be your forever home or a great investment for the future.
Don’t miss this unique opportunity to own a property with a lot of potential at an affordable price. Whether you’re a seasoned renovator or a first-time homebuyer, this property offers the space and the opportunity to turn your dreams into a reality.
Schedule Your Showing Today!
For more details about this property, including eligibility requirements and to schedule a showing, please contact the listing agent via the Zillow link below the photos. Don’t wait – affordable homes with this kind of potential don’t last long!
From Zillow
