Tuesday, June 15, 2010

Delaware Green For Green Program Makes it easy for Home Buyers to get $3,000 to $6,000 CASH-but you need to act fast

A new program just enacted in the state of Delaware gives new home buyers a great incentive to build a Green house- $3,000-$6,000 cash at closing to be exact. More importantly, unlike many other Government initiatives, the Delaware Green For Green program is actually easy to understand and take advantage of. Determining if you can participate is simple as well. All buyers of NEW CONSTRUCTION or TO BE BUILT homes may ask their builter to apply for this rebate on their behalf.
So far it seems pretty familiar, right? But now for the really good news. This program has the most useful website involving a government agency that I have ever seen. http://www.degreen4green.com/ The website not only walks both the builder and the home buyer through the entire process in very easy to understand terms, it includes a list of builders that have already registered and been accepted into the program. So if you have a builder already and you don't see his name on the list, you need to inform him that it needs to be done. If you don't have a builder yet and would like to build an energy-efficient home and get a few thousand dollars back at closing, I would recommend checking out the list of builders on the website. The program was enacted in the past week and there are 7 builders currently on the list. Considering the fact that it takes 48 hours to 7 days for a builder to be accepted, and having worked with builders in the past, this is quite amazing. It is also probably an indicator of the level of service you are likely to get with those builders. The list of builders has a short list of the builder's credentials and a link to their website. There is also a tab on the website for FAQs for the Builder and the Buyer. (Again, very simple).
Overall, I think this program has the potential to be very successful and hopefully duplicated by other states. The reason is probably because unlike many government policies and programs Delaware Green For Green was put together as a partnership between the government and the builders of Delaware. It is of particular interest to those of us who research Green programs and initiatives in the fact that it is one of the few programs of it's kind that focus on New Construction. Most programs that I come across give information at great length on tax rebates and other incentives on remodeling and upgrading but it is usually very difficult to even find the information relating to new construction. Delaware Green For Green is only FOR new construction.
One last, but very important point - according to the website, cash for this program is limited and is available on a first come first serve basis so ACT FAST. http://www.degreen4green.com/
If you live outside of Delaware and are interested in finding a builder that uses Green Building processes such as modular, structural insulated panels, insulated concrete forms, and more, go to www.modularresource.com

Thursday, June 3, 2010

Where to live while your dream modular home is being built

One of the biggest advantages of building a modular home is the fact that it is a faster process than building a site built home. The majority of a modular home is constructed in a factory environment which is quicker since there are no delays due to weather. Even though modular construction is quicker than site built construction the process will still take a few months to complete from start to finish, so moving from your current residence to your new modular home requires a little timing. Also, since many people who purchase modular homes like to save money by either doing some of the finishing work themselves, or managing the sub contractors who will finish the home, it is beneficial to live as close to the new home project as possible.
Here are a couple ways I've seen people deal with this issue while waiting for their modular home to be completed.
First, I must mention that if your home is being completed by a builder, because of liability reasons it is not possible to have the builder finish one part of the house so you can live in it while the rest of the house is completed. A builder is required to have the house pass inspection before anyone occupies the house. So here is one option. Many people will put a mobile home or Park Model home on the property and live in it while the modular home is being built. Park Model homes have become increasingly popular in the last few years because they can be made with the same color siding that will go on the house and once the modular home is completed the Park Model can stay on the property as a guest house or mother in law cottage. Park Models are small cottages that are built to RV specifications, but can be put on a permanent foundation and some of the newer ones look really great. Because they are considered RV's they cannot be built over 400 square feet. www.tinygreenhouses.com is a website that focuses on Green Building and building small houses in order to simplify our lives but these Park Models work great for people finishing off their modular home and they have a section that lets you search for park model home dealers by state.
There are all kinds of creative options out there for how to best transition from your current home to your new modular home so you should keep your eyes open for potential ideas on places like Craigslist, ebay, etc. For example, there is currently an interesting deal being featured on the Missouri land page of www.modularresource.com (I know, this is a shameless promotion of the site I write for, but it is a good example). The Missouri listing features 40 acres of land in the beautiful Ozark Mountains for jsut $106,000. The interesting part is that the owner offers to options to the buyer. The first option is to buy the land on an owner-finance basis with no credit check and only 10% down. This is a good deal, but the second option is the one that makes sense for someone building a modular home. In Option 2, the buyer must pay for the land in cash, but in return, the current owner will include a bonus a double wide home worth about $35,000. The home is currently being lived in so it has all lthe well, elictric, utilities, etc. hooked up. It even has a satellite dish. So for example, say you have just got an offer on your current home and are ready to build your dream modular home in Missouri. Provided you receive at least $106,000 in equity from the sale of your current home, you could then buy the 40 acres in cash and move into the double wide home while you plan and build your new modular home. With at least decent credit, you should have no problem getting a loan for the construction of the new modular home by using the land as a down payment. This could save you a great deal of money that you may have had to spend on rent as you complete construction on your new house. Then when your dream modular home is complete, since the double wide is a mobile home, you could sell it to someone else, who could hitch it up and drive away with it. Or you could always keep it on your property for when friends or relatives come to visit.