What Makes a Home Green?

I apologize for not posting in so long; I've just been very busy lately and haven't had the time, but I'm back now. Today, I'm talking about what makes a home green? You hear this term all the time now and with global warming and all that, it's important that people become more knowledgeable about taking care of the environment and conserving energy. Here's a quick look at what defines a home as "GREEN."

Government statistics tell us that American houses waste more than $300 billion annually due to inefficient energy use. Both residential and commercial buildings have a huge impact on the environment. In fact, in the U.S. they account for greater than 1/3 of the nation's total energy use, 68 % of electricity consumption, 38 % of carbon dioxide emissions and 12 % of water use. It is important that people start making their homes more green and less wasteful; it's better for both the environment and our wallets.

Here's what you need to make your home green:

1. Energy-efficient heating and cooling systems, lighting and appliances
*You should look for products that have earned the U.S. Environmental Protection Agency's (EPA) Energy Star program label
*Everything from appliances and lighting to complete homes can be given this label if they met certain requirements
**For a home to qualify, it must 15 percent or greater more energy efficient than homes built to the 2004 International Residential Code and its features must be at least 20 to 30 % more efficient than standard homes.

2. New home construction: preserve the natural environment as much as possible, reduce erosion and protect trees, use recyclable and renewable materials, practice waste reduction techniques

3. Current homeowners can do many things to make their home more green:
*Caulk and weather-strip windows
*Replace light bulbs with long-lasting energy-efficient ones
*Insulate their attic
*Install a programmable thermostat
*Use low-emission carpets, stains and paints
*Capture rainwater in holding tanks
*Install solar panels
*Use smart irrigation systems
*Use reclaimed wood on countertops and other furniture

People who want to sell their home and make it more attractive to buyers who want to "Go Green" can get an energy audit performed on their home. The audit will show a home's energy usage and will give recommendations to the homeowner for making their home more environmentally-friendly. This can be a major selling point if the home gets a good score or if the homeowners make the changes to make it more "green."

For more information on making your home more environmentally-friendly, please check out U.S Green Building Council, Energy Star, Home Energy Rating System and the Environmental Protection Agency.


*This information was obtained from the September/October issue of Georgia Realtor magazine.

$7500 Tax Credit for First Time Homebuyers

First-time home buyers are now eligible to receive a tax credit of up to $7,500 when buying a home sometime within April 9, 2008 and June 30, 2009. Here are the specifics:

1. First-time Home Buyer is: A buyer who has not owned a principal residence in the prior 3 years of purchase. For married couples, this rule applies to both the buyer and their spouse. It is okay if you already own rental property or a vacation home, as long as it is not your primary residence.

2. Types of Homes that Qualify: As long as the home will be used as a primary residence, almost any type of home will qualify; this includes: single-family detached homes, townhomes, condominiums, manufactured/mobile homes and houseboats.

3. Income Restraints: First-time home buyers are eligible for the full tax credit as long as their income is less than $75,000 for single taxpayers and $150,000 or less for married couples. A partial tax credit may be available for people with an income greater than the limit, for more information on this please visit: www.federalhousingtaxcredit.com.

4. Payback Provisions: The tax credit is essentially a zero-interest loan and must be paid back over the following 15 years or when they sell the home, whichever comes first. However, the homeowner does not begin making payments until two years after they have bought the home. Say they bought the home in 2008, then the first $500 payment would be due in 2010. If the homeowner sells the home before all the payments have been made, the rest of the credit would be paid back from the profit of the sale. If there was a loss on the home, the remaining credit payback would be forgiven.

I hope this information has helped you better understand this first-time homebuyer program offered by the federal government. If you have any questions or would like to buy a home, especially in Walton, Barrow, or Gwinnett county, I hope you will contact me. I would love the opportunity to help you through the journey of purchasing your first home. With incredible amount of inventory for sale and the incentives the government is giving, now is the time to buy!

*The information for this post came from www.federalhousingtaxcredit.com. Please reference that website for more in-depth information.