Choose a Professional When Building Your New Home

Originally posted by the National Association of Home Builders on 2/11/10

Anyone interested in buying a new home wants to find a quality house built by a professional. While professionalism may mean different things to different people, generally there are guiding principles by which home building professionals conduct business. Look for these qualities in any homebuilder you choose to build your dream home.

• Building professionals believe that homes should be well designed, well constructed and well located in attractive communities with accessible educational, recreational, religious and shopping facilities.
• They feel a strong responsibility to their customers and their community.
• Honesty is their guiding business policy, and they believe in dealing fairly with their customers, employees, subcontractors and suppliers.
• They try to build high standards of health, safety and sanitation into every home.

An important indicator of professionalism is whether or not the builder or contractor belongs to a Home Builders Association or other professional organization. Becoming a dues paying member of a building industry association typically means that a builder is an established member of the community. Builder associations encourage their members to research and develop new materials, building techniques and equipment, and improve methods of home financing so that homebuyers receive the greatest possible value for their money.

Home Builder Associations and their members care about their industry and building a quality product that will serve the homeowner and community for years to come. The quality of a new home will in large measure be determined by the skill of the building professional that constructs it. You should evaluate your builder as carefully as you would select the options and features of your new home. When you buy a new home, you are purchasing more than just a structure-you are buying a package of services, and the quality of those services will have an important effect on your enjoyment of the house.

You will communicate frequently with your builder during and after the construction process, so choose a builder with whom you will feel comfortable working and you feel best understands your needs.

One of the best ways to find out about the professionalism of a builder is to ask previous customers. Visit some of the builder’s previous communities and ask homeowners about their experiences. By doing your homework, you will be able to shop for a home with a sense of confidence and the knowledge that will help you to make the correct decision for your family.

For many people, buying a new home will be the single largest purchase you’ll ever make. Make sure that you protect that investment by buying your dream home from a qualified professional builder. For more information about professional builders in your area, contact your local Home Builders Association.

Posted on Mar 12, 2010 | 12:57 PM

NAHB Reminds Home Buyers: Tax Credit Expiring Soon

Originally posted by the National Association of Home Builders on 3/4/10

March 4, 2010 - The National Association of Home Builders (NAHB) wants potential home buyers to be aware that they still have the opportunity to take advantage of the $8,000 first-time home buyer or $6,500 repeat buyer tax credits, as long as they act quickly—the credits expire on April 30, 2010.

“It’s not too late to take advantage of the home buyer tax credit,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. “There are plenty of existing homes on the market, and even though the move-in ready newly constructed homes inventory has dwindled, builders may still be able finish a home in time.”

The IRS provides an additional two months beyond the deadline to close the deal. Buyers who sign a sales contract by the April 30 deadline are still eligible if they close the sale of the home by June 30, 2010.

More people than ever before are eligible for a home buyer tax credit, NAHB estimates that close to 70 percent of all potential buyers should qualify for some form of a credit.

“First-time” buyers don’t have to be buying their first home ever; they are defined by the IRS as those who have not owned a principal residence in the past three years. Repeat buyers may be eligible for a new $6,500 credit, as long as they have owned and lived in their current home at least five consecutive out of the past eight years.

The current credits also increase the income limits, enabling single taxpayers with incomes up to $125,000 and married couples earning up to $225,000 to potentially qualify for a full credit.

NAHB’s Web site at www.federalhousingtaxcredit.com, which has received more than 6.5 million visitors since the site launched, provides basic information about the credits, detailed question and answer sections, and links to additional home-buying resources for consumers.

“If you’ve been considering buying a home for any reason, the home buyer tax credit, in addition to historically low interest rates and competitive home prices, make it an ideal time to buy,” said Jones.

Posted on Mar 5, 2010 | 10:22 AM