Do a cash-out refinance on the original mortgage after improvements 3.

A divorce is bad enough legally but a girlfriend/boyfriend split with joint property and joint bills, etc, is something that would scare me.

New buildings may requires those improvements, and rehabbing may require installation but otherwise older buildings can remain as is.

How much did you invest into the house improvement-wise?

You might get the rating improved, maybe even to the point that flood insurance is not required.- Pay to raise the house up on pilings. 

A lot of businesses are having a hard time these days and over the past year and doesn't seem like that is likely to improve so best to look down the road and plan and see if they are still good investments.  

Should we think about filing jointly now that we own a home? 

Price has to be right to allow for the updating, and then 203K helps you buy the house and fund the improvements. 

@Phat Dao, most improvements you hire a contractor for LOSE money and a garage is probably one of the worst tbh.

There are SOME houses being flipped, but the city is in no way looking to make any major improvements to the area.