Turn a Foreclosure into a Green Home
By Rick Merlini
Certified Professional Master Builder
Professional Real Estate Sales Trainer
2 Time Builder for ABC Extreme Makeover: Home Edition
Who would have ever thought buying a foreclosed home could or would be green? It can definitely be an opportunity to be green. HOW, you say?
First off, buying an existing home instead of building a new one will decrease the demand on material like trees and other natural products that it takes to build a home.
Secondly, most foreclosures that I have seen are in need of repairs. Moreover, because there is need of repairs is why they are price so well. When you purchase a foreclosure and start making those repairs, you can turn the home into a home that is greener than ever before. All you have to do is watch how and with what material you use in making those improvements to the house.
Here are 10 simple ideas to think about when converting your foreclosed house into a greener home.
1) Lower utility and water bills: Having energy-efficient appliances in the kitchen and media room can reduce monthly utility bills. Tankless water heaters mean less time and water wasted waiting for water to warm up in the sink or shower.
2) Healthier indoor air quality: First check for all possible molds in the home and if some is found, than have it removed. Then, clean out all the ductwork and than have them sealed. Also, consider replacing your existing air cleaner with a high quality HEPA-filter type air cleaning system.
3) Tax benefits: By following some guidelines, you may qualify for tax credit to help pay for these improvements. Things like adding extra insulation, replacing old windows, replacing your furnace with a 90 Plus, and turning to a tankless water heater all can have tax advantages with them. You can go to DSIRE, a database of state incentives for renewable energy and energy efficiency, for more information. Through the Energy Policy Act of 2005, the U.S. government offers several tax breaks and incentives for efficiency upgrades to homes. The Department of Energy also offers federal tax incentives. The USGBC lists local tax breaks that may be available to you. The Environmental Protection Agency (EPA) also offers sources for green funding, as does the Energy Star program. When going green, always check the resources that are available to you.
4) Higher real estate resale value: According to an article in Business Wire, on the one-year anniversary of the Northwest MLS's addition of green-design search features to its property listings database, analysis shows that new and existing green-certified homes in King County sell in up to 18% less time and for 28-37% higher value per square foot.
5) Improved durability and less maintenance: Certain green building materials such as bamboo floors are easy to clean or require less maintenance than traditional carpet flooring.
6) Reduced waste sent to landfills: When ordering dumpsters, make sure the company just does not take the contents to the landfill and dump them. There are companies out they that bring the material to their yards, than separate them so they can be recycled and reused. You can also have your contractor separate the material with multiple dumpsters. Many green homes often use recycled building materials. Think about containers that will capture rainwater so you can be reuse it later for any number of uses, such as water your yard.
7) Enhance and protect bio-diversidy and eco-systems: Using xeriscaping and native landscaping reduces needed irrigation. An educated landscaper can help direct you into plants that grow natural in the area with the need for little watering and care.
8) Conserve and restore natural resources: Harvesting gray water saves on water bills. Installing a composting bin saves money ordinarily spent on fertilizer and sends less actual waste to landfills. Smart devices added to electrical items can sense when you are not around, and only turn on when you are, are another easy addition to your greener home.
9) Better for the environment: In the U.S., homes are responsible for 21% of the country's greenhouse gas emissions, according to the USGBC. You living in a green home means that you are helping reduce the causes of climate change. Using local materials means less fuel is used when shipping exotic materials from other countries and ensures fair trade and labor issues.
10) Optimize life cycle of a home: The greenest homes are sustainable, meaning they are built to last and work effectively for generations. Take the time to choose your appliances, light bulbs, and all the new items you plan to install in your home with care and ensure the future of our kids.
Foreclosure Made EZ is a company in Southeastern Michigan who believes and has adopted these concepts. They can help you find a foreclosed home, remodel that home with green concepts' and get you the financing you need. Contact them at foreclosuremadeez.com