It’s a tough call for a builder in the Baltimore area to decide if proceeding with the strict guidelines of the CHAP tax credit is worth all the restrictions. In most cases, it’s definitely worth it. So many of these “shells” are constructed the same and will have the same type of renovation. But once in a while you come across a shell that needs a complete overhaul and the potential to be more creative is there but not within the CHAP tax credit guidelines.
3200 Fleet Street in Canton, MD was a tough call. I helped my investor pick up this shell with all the intensions of applying with the 10 year CHAP tax credit. The shell is 3 levels, end of group, with an attached garage. The CHAP guidelines wouldn’t allow the builder to extend the top level over the garage. The builder decided that the house was better off not conforming to the strict guidelines and is building the house to maximize the potential, unfortunately without CHAP.
Here are some of pictures of his rehab process, enjoy!
(Follow the renovation on the CrabbyHomes FB page)