Build A New Home This Year
It's a great time to buy a new home or condo at Cypress Villages!
Free Money.
President Obama extended and increased the 2008 tax credit for new home buyers through 2009. The $7,500 credit has been increased to $8000 and is now refundable. How does this all work?
First time home buyers can purchase a home and receive up to $8,000 from the IRS. Here are some important points to know:
- A first time home buyer is anyone who has not owned a residential property for 3 years.
- $8,000 tax credit can be applied against taxes owed. If you owe less than $8,000 in taxes, the difference is paid to you directly by the IRS.
- Single taxpayers whose modified adjusted income (MAGI) is $75,000 or less are eligible for the full credit.
- Married taxpayers whose modified adjusted income (MAGI) is $150,000 or less are eligible for the full credit.
- Single or married taxpayers whose income exceeds these limits are eligible for a reduced credit.
- Home buyers can reduce their tax withholding during 2009 (up to the tax credit amount) and apply this to a down payment.
- Home buyers may apply for the credit based on their 2008 MAGI.
- Homes must be purchased in 2009, determined by the settlement date, so the home must be substantially completed in 2009. Timing is essential.
- Any single-family home or condominium can qualify.
Doing the Right Thing for Sustainable Housing is being rewarded:
Our Green building standard is LEED, “Leadership in Energy Efficient Design.” LEED was established by the US Green Building Council (USGBC) and includes a comprehensive array of standards for Green Building. In addition to energy conservation, LEED considers the source and life cycles of materials and equipment, the amount of daylight and fresh air, and a variety of other measurable features of Sustainability. The CV home currently being completed is anticipated to achieve LEED Platinum Certification.
When you buy a LEED quality home at Cypress Villages, you will find a secure place for your investment. The market for Green Building has expanded at a breakneck pace, and Green homes are holding or increasing in value much more than conventional homes. Amenities now being added added to the CV subdivision will also help grow your investment. Look to the next newsletter for more information on the surrounding Organic Farm developments.
How is this achieved?
At CypressVillages, your home equity is protected by high quality constructionand materials. For example, our hail-resistant roofing tiles last aminimum of 50 years, as opposed to 20-25 years for asphalt shingles.Additionally, your home is wrapped with natural building material andVented-Rainscreen, virtually eliminating the risk of water damage ormold inside your home. Solar power, geothermal water heating, and oursuperior insulation package insures that a CV home has the best valuefor the long-term.
Good news for Mortgages too.
We've all heard alot of bad news about mortgages lately, but now there's some good news.
Right now mortgages are at historic lows. With a 30 year term, a $250,000 home costs $170/month less than it would have two years ago. That's more than $81,000 in savings for the term of the mortgage. Buying a new home in 2009 is like getting a home that pays you $2,725 per year for the next 30 years.
Your total payment to own a LEED Platinum home at Cypress Villages has decreased because of lower utility costs, property taxes and homeowners insurance.There's more...
More Reasons to Buy at Cypress Villages.
- Local insurance companies have quoted homeowners insurance rates at 10-20% less than average homes because of the durability of materials.
- Due to the location of Cypress Villages, you pay 50% less for property taxes than within the Fairfield city limits.
- Our first home sold for $260,000 but was appraised at $270,000. This home is designed to last over 100 years without major renovation.
- Our LEED Platinum designed homes can save you approximately $4,020 per year on heating and cooling expenses. A typical home built in the 1950s can cost you $367 per month in heating and cooling expenses. In a mid-size Cypress Villages home, you will pay about $32 per month for heating and cooling, with no hidden costs for LP Gas/Propane.
A penny saved is a penny earned, so here is how your potential savings and equity breaks down:
$10,000 Additional equity at time of sale (one time)
$8,000 Tax refund (one time)
$4,020 Heating and Cooling savings (every year)
$5,000 Present value of deferred maintenance and replacement (onetime)
$3,150 Geothermal heat pump tax credit (30%) (one time)
$1,350 Solar panel tax credit (30%) (one time)
$ 480 Savings for homeowners insurance (every year)
$ 800 Savings for property tax insurance based on location (everyyear)
$32,800.00 - Total Savings
Iowa's first registered LEED Platinum home will earn it's new owner $32,800this year.
Find out what your CV home will do for you! Call Michael Lesniak at641-469-5900 or email michael.lesniak@cypressvillages.com.
Disclaimer:Energy use for heating and cooling costs based on averages and energy models. Dollar amounts based on $0.085/kwh and $2.43/gallon for propane and includes only actual energy used, monthly service fees excluded. The phrase “Iowa's first registered LEED Platinum home” refers to the home at Cypress Villages currently being completed which was designed by a Sustainability Specialist and LEED Accredited Professional, and is expected to received LEED Platinum certification. The home is not certified until completed and reviewed by USGBC.
Cypress Villages
a Land Grant Development Corporation / WalkerGroup, Inc. project
http://cypressvillages.com
58 South Main St.
Fairfield, IA 52556
Tel: 641-469-5900