Why Rehabbed & Ready?
Rehabbed & Ready is a one-of-a-kind program designed to create opportunities for homeownership in Detroit’s neighborhoods, reduce residential blight, and restore home values.
In Detroit, it can be challenging to purchase a home with modern renovations. In some neighborhoods, where home values are less than the cost of required rehab work, it can also be difficult to finance repairs. The Rehabbed & Ready program was developed by the Quicken Loans Community Fund and Detroit Land Bank Authority to address these challenges. This program uses philanthropic funding from the Quicken Loans Community Fund and others to renovate and sell homes for market value in order to bridge the gap between home value and repair expenses. This allows the Rehabbed & Ready team to invest deeply in the quality of their rehab projects, installing energy efficient HVAC systems, new windows, replacing sewer and water lines, and completing full environmental abatement of all properties.
Rehabbed & Ready stabilizes Detroit neighborhoods by replacing vacant properties with homes ready for purchase on the traditional real estate market. These purchases strengthen neighborhood housing markets, restore home equity, and make it easier for future home buyers to access financing.
By purchasing a Rehabbed & Ready house, you invest in Detroit's neighborhoods and empower yourself as a homeowner.