The Importance of Green Building Materials

Several of the key factors in green building materials are: do they emit volatile organic compounds (VOCs)? Do they need VOCs for maintenance and/or cleaning? These are chemicals such as paint thinner, dry cleaning solvents, formaldehyde etc. Many building materials have these chemicals in them. Over time, they vaporize into the air. If they can then get into areas inhabited by people, sickness can be the result. Also, if the building material needs VOCs for routine cleaning, that will put still more of them into the atmosphere. Many of these volatile organic compounds are also greenhouse gases. Given the current state of the environment, we don’t need to be putting any more of them into the air!

What to Look for

Overall, green building materials should have five features. First, resource efficiency; that is, they’re made from recycled materials, or materials that are natural, plentiful or renewable. The manufacturing process should also be efficient, and the materials available locally; that way nothing is wasted in transportation. Then the material should be durable, so that it lasts a long time, and also be able to be re-used/recycled.

Next is the issue of indoor air quality. Green building materials are designed to insure that the air quality inside is as good as possible, to insure the best possible health of the people who live in/use the building. Then there’s energy efficiency. Green materials help to reduce energy consumption in buildings. Along with that is water conservation; these materials also help to reduce the building’s water consumption.

Once you settle on a price, start advertising. You need to decide if you want to use a realtor, or sell your home yourself. These days, with BuyOwner, and web-based home sales, you can try staging a house for sale yourself, without a broker. Each way has their own pluses and minuses; so it is up to you which to use.

Preparing your Home
Selling your home like a pro involves a lot more than just putting up signs and waiting for the potential buyers to show up. First impressions are important. You want your home to look as good as possible. So, clean up the yard, repair any bare patches of sod, clean out any flowerbeds, etc. If your house is in need of a paint job, you may want to invest in that. This may cost some money, but think of it as a business investment. You don’t want people to cringe at their first look at your home. It takes work to sell your home like a pro.

Next is the interior. Clean your house and arrange the furniture to make it look nice. That may mean removing some things to make your home seem less cluttered, or painting or fixing things, but it’s well worth it. The two most important rooms in the house are the kitchen and bathroom; work at making them look nice. That may mean changing a sink or painting some cabinets, but the investment can pay big dividends in the end.

So, cast aside sentimentality. Selling your home like a pro is a business and it takes time, effort and money.

First off is price; there are homes on the market that – as little as a year ago – were going for two, three, and even more times their current asking price. So, there are incredible bargains to be found. Two key elements to consider though are location and condition. A dirt cheap home might be that price because it is in a terrible neighborhood. This is where checking with local realtors and doing some homework is important. And next, there’s the condition of the home. If the homeowner has been struggling financially for some time, they may not have been able to perform routine maintenance and upkeep. So, get the home inspected to insure plumbing, electrical, foundation, and so on are in good condition. If not, offer less.

While many banks are tightening up on credit, you can still get a loan – provided you follow certain steps. First, keep the same job, and keep working it the same way. This may sound confusing, but here’s how that works. If you’re working for an employer, maintain your work status with that employer. If you’re a full-time employee, don’t let them change you to a contract employee. Even though you’re doing the same work for the same boss, this is considered a change in employment, and most banks will shoot you down on a loan. So, as much as possible, keep your same type of job, at least until after your closing.

Right now, the interest rates are incredibly low; so – if you qualify for a mortgage – you can get a great loan. The key here will be your credit rating. So, before approaching a bank, get a copy of your credit report and see what your number is. If you have some old bills or too many credit cards – pay those bills and cancel some of those cards. These will boost your rating, and this can shave as much as a percentage point off of your interest rate.

The Money you Save on Your New Home will make up for the Loss of Your Old Home

When going from one home to another, there are always expenses: moving vans, packing, closing fees, utility transfer fees, etc. Yet, in the long run, the new home will save you money.

In general, an older home needs more repairs. You have to improve the electrical fuse box and system so that your home has enough amperage to handle your power needs. Over time, the roof will wear out and need to be patched and/or replaced; with a very old home, the roof will no longer be under warranty, which means you face the prospect of paying for the repairs entirely. Also, years ago people didn’t know that fiberglass insulation was hazardous to your health or that lead pipes could be too. Older homes tend to have many such building materials, and they can all pose a health risk.

In the case of newer homes, they don’t contain any hazardous construction components that you’ll have to pay to remove and replace. Any work you do need will generally be covered by warranties and/or insurance. This will save you money in day to day expenses, and your home insurance. Another factor that will aid in saving money with a newer home is that they tend to have components that resist burning, and even have security system elements built into them. These also get you a savings on your insurance.

As for long term costs, older homes are subject to cumulative damage from storms and seasonal changes. There are also insects – carpenter ants, termites etc – that can gradually eat a home from the inside out. Not only do newer homes have less trouble with such things, but they’re often built with materials that have been treated to repel insects. Also, the ground under the foundation of a new home is treated with insecticide to prevent the pests from burrowing into you home.

With older homes, over time, neighborhoods can change. What was once a nice bedroom community might now be the heart of the downtown business district, or maybe right next to a highway or airport. For that matter, perhaps the community has gone into an economic recession, and now crime is an issue and the street is full of empty or dilapidated homes. By buying a newer home, you can avoid all of these negative aspects that tend to reduce a home’s value, and increase the insurance premiums and other costs associated with an older home.

Here are some critical aspects of the program. First, you can’t have owned a home in the three years before the date of your current purchase; this is the definition of a first time home buyer. If you’re married, this applies to both of you.

The tax credit, while it can be eight thousand dollars, might not be that high; it is calculated based on the purchase price of the residence. The credit is ten percent of that price, up to the maximum of eight thousand.

To properly claim the credit, you must close on the home between the timeframe – January First to December First – and then you claim it on your tax return filed in 2010. You will need the Form 5405, and file it with the IRS, in order to get the amount properly recorded in their files. Also, the amount will then be entered into line 67 on the 1040 income tax paperwork. You don’t need any other form of paperwork, and you don’t even have to speak to the IRS to get the amount pre-approved. One little warning with the credit, you can’t use Form 5405 to claim the credit on a future purchase that is going to take place after the December First deadline.

While the type of home you can buy is very flexible – you can even buy a houseboat, so long as it’s going to be your primary residence – you are limited in whom you can buy it from. Buying it from a member of your immediate family – parents, children etc – is not allowed.

So, while the credit is good, time is swiftly running out; if you’re going to make use of it – hurry.

This program, offered to qualified homeowners, boasts an affordable payment based on 31% of the homeowner’s gross monthly income.  To achieve this, interest rates will be reduced to as low as 2%, loan terms will be extended to 40 years, and/or a reduction on the principal with the government sharing in the costs with lenders.  The government is offering financial incentives to both the homeowners who stay current on their loans, and to the servicers/mortgage holders that offer a loan modification program to their borrowers.

Guidelines for eligibility are: 1) Homeowners must live in the property as their primary residence, 2) The loan must have been originated prior to January 1, 2009, 3) Homeowners must demonstrate financial hardship now or in near future, 4) Provide proof of income and have a current mortgage payment greater than 31% of gross monthly income, and 5) The loan amount must not exceed $729,750 for a single unit property.

If this is a program of interest, you can contact your mortgage servicer directly for a loan modification.  This process is known to be a frustrating one and may pose many questions.  If you are in need of assistance, you may contact a nonprofit housing counselor approved by the Department of Housing and Urban Development free of charge: http://www.nls.gov/offices/hsg/sfh/hcc/hcs.cfm.

If you choose to go with a company to negotiate for you, research your options, be careful of the countless scam artists (especially those charging upfront fees or advertising any kind of guarantee), and make informed decisions.