Basically, it says that first-time home buyers (those who have not owned a home within the last three years) may be eligible for a tax credit 10% of the purchase price of the home up to a maximum of $8,000. The home must be under contract by April 30, 2010 and must close by July 30, 2010.

A new credit is also being offered to current homeowners who want to make a move. If you have owned and occupied a primary residence for five consecutive years during the last eight years, you may qualify for a credit up to $6500. The contract date and closing limits are the same as those for first-time buyers.

There are a few restrictions to this credit. Please give me a call if you are interested in hearing more about the qualifications.

In part one of this blog I spoke about the exodus from the suburbs and the current thinking that makes living close to where you work and play so desirable.  Commuting adds a big expense to the monthly budget as well as adding to ones carbon footprint.

If you want to live close to downtown Boise, there is a good chance you’ll end up in an older home in one of Boise’s established core neighborhoods.  Many of the close-in neighborhoods (North End, East End, Northwest and the Bench) consist largely of homes dating from the mid 1900’s back to the turn of the century.  These homes have character that many find pleasing, but they often lack some modern conveniences that homeowners have come to expect.  This is why many people choose to remodel these older gems.

With society’s increasing emphasis on sustainability and our awareness of more eco-friendly materials, these remodels can accomplish several things.  First, they can make an older home function in a way that works for modern life.  A good remodel can increase the appeal and value of a home while, at the same time, it can make it a more efficient and healthier place to live.  Your remodel can save you money as well as help you stay healthy. 

Naturally, there are costs involved with every remodel decision you make. However, you might be surprised at how many of the choices you make can be eco-friendly for about the same price as less sustainable choices.  Energy Star appliances, low-flow faucets, sustainable floor coverings and more are priced competitively with less eco-friendly choices.  Plus, when you factor in the usage savings plus any tax benefits, I’m sure you’ll find that they are a true value.

Here are a few examples based on a 2500 sq. ft. home.

Info courtesy of http://www.greenandsave.com  Find complete list here

During the current economic situation, home prices in these core neighborhoods have remained more stable than those in communities further from the downtown area. If you are thinking of moving to one of these neighborhoods, or if you are lucky enough to already own a home in one of them, remodeling might make sense for you. Let me know if I can help by referring you to a trusted contractor or vendor who is well qualified to help you achieve your dream.