Maine Modular & Custom Home News

With record low interest rates, tax credits, rock bottom prices on land and construction fees…. All you have to do is find an out of work builder to give you a lowball price and you’ll be in your new home in no time, right?  Better think again.

You know the time has come to make a change.  You know it’s a smart financial move to build your new home.  Yet, bad things happen, expecially to the uninformed.  That’s why you have to do your homework before you select a builder.  You can make a great choice, if you know the right questions to ask. Read the rest of this entry »

Following are key points that prospective home buyers should be aware of when considering a home purchase under the tax credit program:

• A tax credit of up to $8000 is available for first-time home buyers purchasing on or after Jan 1, 2009 and on or before April 30, 2010.  In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• A tax credit of up to $6500 is available for repeat home buyers who have owned a home for five consecutive years out of the prior eight years.  The repeat home buyer tax credit applies to houses sold after November 5, 2009 and on or before April 30, 2010.  In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• Income limits of $125,000 for individuals and $225,000 for married couples filing jointly apply to all sales occurring after Nov 6, 2009.
• Homes priced above $800,000 are not eligible for either the first-time home buyer tax credit or the repeat home buyer tax credit.
• Expanded tax credit benefits apply to members of the military, the foreign service and the intelligence community.
• Home purchases in 2010 may be claimed on an amended 2009 income tax return.
• Persons who are claimed as dependents by a taxpayer or who are under age 18 do not qualify for a tax credit.
• Home purchases from relatives of the taxpayer or the taxpayer’s spouse do not qualify for the tax credit.  The IRS defines relatives as ancestors (parent, grandparent, etc.), lineal descendants (child, grandchildren, etc.) and spouses.
• Married couples are not eligible to claim the first-time home buyer credit if either spouse has previously owned a home.  They may, however, qualify for the repeat home buyer tax credit.
• Neither the first-time home buyer tax credit nor the repeat home buyer tax credit have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
• Taxpayers must submit a copy of the HUD-1 settlement statement and IRS form 5405 to claim either the first-time home buyer tax credit or the repeat home buyer tax credit.

In this economy where we are all looking to save money and energy, these products found at ThisOldHouse.com make a lot of sense.  Some of them might seem a little pricey, but if you factor in the energy savings, the net cost can be zero in just a matter of months.  My favorite item is the washer and dryer that can complete a clothes cycle in 30 minutes.  The energy saved in two years pays for them, but if I included in my time value – conservatively saying $30 per hour – with the amount of laundry to do in my house, I figure they could pay for themselves in six months.  Now, if This Old House would find a way that every item is folded and pressed when I open the dryer door, that would be priceless.

The July 2009 Builder Magazine published results from their recent survey in an article titled Brave New World. They have taken a good look at what the home builders of the future will be expecting in the housing market.  There are  three distinct markets that will drive these expectations according to the newest information.  Immigrants will still be dreaming about being able to build a home big enough for extended family, Baby Boomers will be looking to downsize without giving up quality, and the “Millenials” will be looking for urban, uncluttered and well designed homes.  All three groups will be looking at affordability due to economic constraints that were not there in the past.  The builders of the future will need to accommodate a variety of expectations and keep the cost down.  This is where sytems built technology has a head start.  Design, affordability and meeting expectations have always been the foremost concerns in a modular building process.  As we look to the future we can expect that modular building will be in a prime position to help anyone build the home they are looking for.

If you still aren’t convinced to build a new home check out the National Association of Home Buyers brochure that will answer a multitude of questions.  This brochure is available as a .pdf download and has information on income tax savings for a home owner, the new tax credit for home buyers and the adantages of building your wealth through home ownership.  Making  a decision such as building a new home is hard at any time, but even more so in times of economic uncertainties.  Schiavi Home Builders can help walk you through the process and alleve your building worries.  Folks who are making the decision to build new homes now are reaping all the usual benefits, plus some really great bargains in the process.  Contact one of our home specialists now to find out how much you can save by building a new Schiavi Home.

Yes, I know we are just coming out of a long cold winter but summer really is almost here. Instead of worrying about how much oil we are using to keep warm, our focus is about to change to how much it is costing us to keep cool. Did you know that approximately 1/6 of all electricity used in the United States is used to keep residential and commercial buildings cooled down? You can also lessen the cost of cooling down your home by about 25% by having a well placed shade tree. Intrigued about ways to naturally cool your home? Check out the 30 environmentally friendly ways to keep your house cool in the summer at Home Guide 123. Times dictate that we conserve energy summer and winter and all the days in between.

Everyone comes up with their own ideas for building a home exactly the way they want it, but sometimes it’s good to have a little help with the creative ideas. Check out Scott Adams blog on what they want to include in their new home. They have really thought up some great items that will make life easier. Things like a toy jail and a cat’s bathroom are not found on just any floor plan – you have to envision that yourself. Perhaps you will adopt some of Scott’s ideas, or at least it will get you thinking outside of the box so you can come up with your own ideas. Don’t forget to post your thoughts here so others can benefit from your creativity.

You may think you have several months to still qualify for the new Home Buyer’s Tax Credit, but read the fine print. The deadline is Nov 30, 2009. That means you need to have all transactions of ownership completed prior to Dec 1, 2009. You can’t build a home and finish it and close your loan in one or two months. There is barely enough time to finish a new home if you start today. Don’t miss out on a great opportunity because you didn’t understand the terms. Read this article at the NAHB website that clarifies what the deadlines actually are.

Systems Building Technology has long been plagued with drywall cracking that most folks think is unbelievable. I really liked this article Repairing Minor Drywall Problems. It gives helpful advice on how to fix cracks and nail pops. What I thought was great advice in this article was this: “I hope you read this article and realize your house is not special. I hope you realize that drywall will ‘Snap, Crackle and Pop’ and it’s perfectly normal.” Drywall issues crop up in all new homes – it’s a matter of drying and settling of the materials. It is not a modular home problem at all, but a new home problem in general. It’ s nothing to worry about, your home is not falling apart, it just needs a little TLC from you.

Thinking of making your home larger by utilizing basement space for living space? Read this advice on basement construction before you get started. Basement construction is not like adding an addition and there are special considerations that are important. There is usually a humidity issue and possibly cracks in your floors and walls that will need dealing with. Lighting can be an issue too as it tends to be much darker in the basement. Fluorescent lighting will make the area look stark and uninviting so chosing the proper lighting can make a really big difference in your overall satisfaction. As suggested, building a closet where plumbing pipes hang low can conceal the unsightly junctures of pipes. Using basement area can be practical, just make sure you know what you are getting into.