First: Home-shell improvements are eligible (insulation, caulking, windows, etc..).

Second: Heating, ventilation and air conditioning improvements (using more efficient newer models of course) are eligible as well.

Third, renewable energy technology is also available for tax credits. Example of items that fall in this category would be geothermal heat pumps, solar water heating, solar panels, and even wind generators. This category tends to be the more expensive of the three, but also has a longer time frame in which to qualify. While the other two categories purchases have to be made before Dec. 31, 2010, investments in renewable energy are eligible for credit through Dec. 31, 2016.

The American Recovery and Reinvestment Act of 2009 increased the credit from 10% to 30% of the cost of energy efficient windows, HVAC equipment and insulation, up to $1,500. Unfortunately, the $1500 is the maximum amount that can be credited, even if you do multiple qualifying improvements on your home. This credit also only applies to the cost of the components, not installation, with the exception of energy equipment installation.

The bar has also been raised for what will qualify for a credit. For example, just because a window is Energy Star rated, does not necessarily mean it will qualify for a credit. As to be expected from any government program, there are a lot of rules and regulations, but is definitely worth looking into further for an extra $1,500. Who wouldn’t like to have an extra $1,500 to add to their remodeling budget?

Sickening. I found this quote in an industry trade magazine describing builder who shall remain nameless. I have no ill feeling toward the builder. I know nothing about him other than what the small article said, which was all positive, or at least meant to be. My issue is with the reporter, in a professional trade magazine, who touted that the builder has drawn plans on the back of a paper towel….and meant it in a positive way. Is this really the professional image that builders should be striving for? I try to stress to my clients that we DON’T draw your plans on the back of a napkin. We DO have an award winning designer and CAD software to ensure quality, detailed plans that not only look nicer, but have been thought thoroughly through to make sure the plans “work”. When bidding out jobs to sub-contractors or suppliers, which way do you think will get you the best price, a paper towel sketch of what the project will sort of look like with a few dimensions, or a complete set of plans drawn to the level of detail that different trade contractors and suppliers will need? If an issue arises over how a certain aspect of the project is supposed to work, do you want your builder referencing his paper towel, or pulling out a set of real plans? Like many builders, coming up in the industry I’ve built from some plans that were sketchy plans at best. I’ve redesigned homes on the hood of my truck. I’ve redesigned aspects of homes after they were built. I’ll admit, at times this can be fun, but most of the time it is just frustrating and rarely is it an efficient way of doing things. Potential clients should be looking for a builder with enough professionalism to be providing well thought out CAD generated drawings, not a sketch on a paper towel. Yes, the initial cost of paying an architect or designer for their services is more than Joe the builder is going to charge for his handy work on the back of a paper towel, but as the saying goes, “you get what you pay for”. If you want a professional job, hire a professional. The industry already has a perpetual black eye, because of shady “pickup truck” contractors. I don’t believe this particular contractor fits that stereo type, but the reporter’s portrayal of him as “that guy”, and meaning it in a positive way, because it helped keep his costs low, is not the message that needs to be portrayed about the building industry, especially not by the building industry.

The American Recovery and Reinvestment Act of 2009 (or economic stimulus bill) has several opportunities for homeowners to save on taxes as well as energy by installing insulation, replacing inefficient windows and upgrading HVAC systems.

Some important changes have taken place that homeowner’s should be aware of.  The tax credits were previously effective for 2009, but have been extended to 2010.  The credit has also been raised from 10% of the cost of materials to 30%.  The cost of labor is not included with the exception for HVAC, bio-mass stoves, water heaters, solar panels, geothermal heat pumps, wind energy systems and fuel cells.  The previous credits that were for a specific dollar amount have been changed to 30% of the cost of materials.  The maximum credit has also been raised from $500 to $1,500 for all improvements made between January 1, 2009 and December 31, 2010.  Some improvements are not limited to the $1,500 maximum or to the tax payer’s principal residence, such as geothermal heat pumps, solar water heaters, and solar panels.  All products must have a Manufacturer Certification Statement to qualify for the credit.

To receive a credit for insulation, the installation must meet 2009 IECC and Amendments requirements.  For exterior windows, doors, and skylights, the units must have a U factor <=0.30, SHGC <=0.30  Please note, the requirements for this tax credit changed significantly June 1, 2009.  Storm windows can also be used for a 30% of cost or up to $1,500 tax credit if they meet IECC requirements in combination with the windows over which they are installed.  Again, the requirements changed June 1, 2009.  An often overlooked credit available is all Energy Star qualified metal and reflective asphalt shingles are eligible for the tax credit.

These credits provide a great opportunity for homeowner’s to affordably upgrade the energy efficiency of their homes now, and realize more savings in the future due to decreased energy consumption.

The $8,000 credit applies to any first time buyer with a modified adjusted gross income less than $95,000 for single or head of household taxpayers or $170,000 for married couples filing jointly.  A first time buyer is described as a buyer who has not owned a principal residence during the three- year period prior to the purchase.  All homes apply, including newly constructed homes.

This is a true credit and there are not payback provisions as in the previous version, with the exception of if the owner sells the home within three years after the purchase.   The credit is also refundable, meaning if you pay less than $8,000 in federal income taxes, then the government will write you a check for the difference.  Credits can be applied to 2008 or 2009 tax returns.

The $8,000 credit is applicable for single or head of household taxpayers whose modified adjusted gross income is less than $75,000 (or $150,000 for married couples filing jointly).  Incomes larger than that still qualify for a partial credit, so long as they are below the $95,000/$170,000 mentioned earlier.

Please visit www.federalhousingtaxcredit.com for more information.

With so many homes on the market today, what do you do as a up and coming homeowner? There are many options from condos to new homes. Depending on the the finance and the price you are wanting to buy at. However, did you know that buying a home in this market maybe more expensive than building your own custom dream home?

Things have changed. Prices are now increasing due to banks lagging on their paperwork. With so many homes in foreclosure, banks are having issues releasing homes to the MLS and Agents. So what does this mean to you?

If you are looking to buy a home, placing an offer on one may take longer than expected. Its as almost as if the banks are trying to make a down market into a competitive one. You could put three to four offers before getting into the paper trail of things.

Solution: Have you thought about building an Atlanta Custom Home to fit you and your family’s needs and wants. This gives you as the homeowner a real flexibility to have the dream home you have always wanted. Russell and his team are dedicated and experienced builders that will consult with you on the options you have. So you could just build your dream home instead of waiting for the banks to release it to the MLS.

In Today’s Market, there are so many good deals on buying a new home if your a first time buyer or an investor. With the rates that are unheard of in years why wouldn’t you take advantage of buying a home, right? Thats what the Real Estate industry wants to tell you! How about building your home? Has that ever crossed your mind?

Of course it has. Though then there comes questions of doubt and uncertianty. Can I afford it? How long is it going to take?

The truth of the matter is, your more likely going to enjoy your home more if you build your home the way you want it. With mortgage rates this low you would be crazy not look into building your own home.

Custom Dwellings would be glad to go over a free consultation on how, when, where, and why. Russell Ives and his team have built some of the most prestige homes in the South. Russell will be honored to sit down with you and take a look at your dream home. Custom Dwellings has said by many to be the best Atlanta Custom Home Builder in all of Georgia.

The difference between a remodeling company and a custom builder is the precision of the type work to be done. The work that Custom Dwellings provides is not just your normal remodeling, Russell has built some of the finest custom homes in Georgia. With the current housing market, Russell has shifted his team to custom remodeling. So if your looking for Custom Atlanta Remodeling choose Custom Dwellings. Not only for the custom work you will receive but for the diligence Custom Dwellings is known for.

Atlanta Remodeling is what Custom Dwellings is devoted to only the best work in the the North Metro. For a free estimate call Custom Dwellings.

In an effort to build a speculative product as quickly as possible that appeals to as many people as possible, builders and designers have gone with plans that try to accommodate everyone’s needs and wants in a single floor plan (though even with extra square footage, adequate storage space is often overlooked).  This sounds ok, but the result is a lot of wasted space (and cost and waste of resources) for square footage that an individual buyer may not need.  Even if the buyer is aware they don’t need certain spaces, the products on the market leave little choice, but to buy too much house.

The only other option is fairly obvious, have a Atlanta custom home designed and built.  Many buyers shy away or flat out don’t consider this option as they believe it will be too expensive.  They are mistaken for a variety of reasons.  While large production builders tend to discourage change, often by ridiculous fees to make the changes they are willing to make.  This is just because they have a system down and don’t want to rock the boat.  In reality, changes, when made with proper notice, shouldn’t be overtly expensive.  Smaller builders are in a position where they are less burdened by corporate red tape and can adapt and change to their client’s needs more effectively and cost efficiently.  The cost difference for me to build a home to corporate set of standard selections every time versus building the home to the homebuyer’s personal selections is minimal.  There shouldn’t be an up charge to get what you want.

The only additional cost that is valid, is the time paid to a designer to custom design a home.  These fees often seem too high to be justified to a potential buyer.  Keep in mind though, that even on a production home, someone designed that home and the builder is paying for those plans, the costs are just hidden.  Without argument though, it does cost more to custom design a home.  However, if you can pay (hypothetically speaking) $5,000 to a designer to custom design a home, the result may very well be that you have a home that truly fits your needs without additional wasted square footage.  Assuming that you save only a measly 50 square feet of space, at a modest cost of $100 per square foot, you’ve paid for the design services already, not to mention that you wind up with a house that is truly yours and fits your lifestyle, not one just like the one across the street.

The recent economic downturn has many thinking that home design will be shifting back to more modest size housing, like many of us grew up in.  Good.  I have no problem building large homes for those who need and can afford them, but I hope that there comes a movement away from the production homes that have dominated the market for so long towards designing and Atlanta building homes for the individual buyer.  Like in an era in decades past, designers, homebuyers, and builders need to once again learn to work together to produce desirable, cost effective, and resource friendly homes .  The cookie cutter needs to go, and cost is not an excuse to keep it.

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