Get the home of your dreams without leaving your neighborhood with this matching grant for small updates or large-scale renovation projects.
You can admit it: You’ve been dreaming about how to improve your house for years. But rising costs for routine maintenance may have held you back from making larger updates that would enhance your quality of life. This is your chance to transform your current house into your dream home.
PROGRAM DETAILS
Turn Your Old House into Your Dream Home
Grant Amount: Up to $75,000*
- No income or credit requirements to qualify.
- Covers internal and external maintenance and improvements, including large-scale renovation.
- The grant covers between 20% and 50% of your costs, based on your project and neighborhood location.
- Grants are fully forgiven within five or seven years if you stay in your home. (If you move early, you’ll receive a prorated amount).
- Smaller grants are reimbursed immediately after work is complete, with no forgiveness period required.
*Program guidelines vary by neighborhood.
Are You Eligible?
To be eligible for the Homeowner Renovation program, you must:
- Own and occupy a home within one of the four Special Investment Districts: Columbus Park, Drake, Franklin Area, or Oak Park / Highland Park.
- Get your project pre-approved in advance by Invest DSM. (We work hard to get to a “yes.”)
- Use materials that meet design and construction standards to ensure long-term quality.
“It would have taken us 5-10 years to complete the projects we had on our list without this program. Thanks to the funding provided, we figured out how to complete them in one year and are able to enjoy them while our kids are still small.”
The Benefits
- Dream big! Take on any size renovation you want!
- Make your house more comfortable and livable for your family with modern updates and amenities.
- Get the repairs and maintenance you’ve been stressing about taken care of.
- Get ideas from our specialists about how to improve your home.
- Enjoy freedom and flexibility in choosing your personal project.
- Receive one-on-one consultation, advice, and technical support from our specialists throughout the entire project.
- Overcome the gap between what updates would cost and your increased home value after the project.
- Complete updates you wouldn’t be able to afford without Invest DSM.
PRoject ideas
If you don’t know where to start, we can offer suggestions, review your bids from contractors, recommend building materials, or connect you with
design service professionals.
These are just a handful of ideas – you’re only limited by what you can imagine!
- Make exterior and interior repairs.
- Take care of deferred maintenance issues.
- Add modern upgrades.
- Redo your landscaping.
- Get a new furnace or water heater.
- Change your floor plan.
- Update your bathroom or add another.
- Renovate your kitchen.
- Replace the roof, windows, or garage.
- Construct an addition.
- Finish your basement.
