How much is the 45L Tax Credit worth for multifamily projects?
What is the process for claiming 45L for multifamily projects?
The 45L tax credit is a home federal tax credit available to new construction multifamily and single-family projects that meet energy-efficiency building standards. It has been updated and extended through 2032.
| Program Requirements | Tax Credit Value |
|---|
| ENERGY STAR MFNC * | $500/unit |
| ENERGY STAR MFNC + DOE Zero Energy Ready ** | $1,000/unit |
| ENERGY STAR MFNC + Prevailing Wage *** | $2,500/unit |
| ENERGY STAR MFNC + DOE Zero Energy Ready + Prevailing Wage | $5,000/unit |
* ENERGY STAR Multifamily New Construction
** DOE Zero Energy Ready: Department of Energy’s Zero Energy Ready Homes certification program
Do all units in a project have to qualify? Is it all or nothing?
Yes, ENERGY STAR needs all units to meet the requirements in order to achieve certification.
Who can benefit from 45L credits?
This Tax Credit is intended for multifamily and single-family builders and developers (not homeowners or tenants).
What types of buildings qualify?
Any residential buildings (single-family, multifamily, or manufactured homes) that meet the ENERGY STAR definition of a dwelling unit will qualify.
In this case, a dwelling unit is defined as a single unit providing complete independent living facilities for one or more persons, including permanent provisions for living, sleeping, eating, cooking, and sanitation.
Can multifamily projects be retroactively eligible for 45L Tax Credits?
Potentially. ENERGY STAR can only be achieved on new construction or major renovations. If the project is undergoing renovation, reach out to us and we can help determine if it is being renovated enough to be eligible for certification.
When do new multifamily projects need to get started on ENERGY STAR or DOE Zero Energy Ready certification in the development process?
As soon as possible! We always like to say the earlier the better so we can get the requirements designed in, but ideally no later than CD’s
If you’re interested in qualifying for the 45L Tax Credit by pursuing ENERGY STAR or the DOE Zero Energy Ready Program, or are interested in more information about incentives for energy efficiency in general, please reach out to us today!
What is the 45L Tax Credit and How Builders Can Get Up To $5000 per home built.
**Secure Home Inspections HERS Energy Rater Division Launches in 2023**
What is the 45L Tax Credit?
Otherwise known as “The energy efficient home credit “, which provides eligible contractors up to a $5,000 tax credit for each energy efficient dwelling unit, is retroactively available for projects placed in service from 2020 to 2022, and through the end of 2032.
When did the 45L Tax Credit Start?
The Section 45L tax credit has existed since 2006 and most recently expired at the end of 2021.
Congress has passed, and President Biden has signed into law the Inflation Reduction Act. This important legislative action includes provisions regarding the 45L tax credit.
Who is the 45L Tax Credit For?
This Tax Credit is intended for single-family builders and multifamily developers (not homeowners).
When Did the Tax Credit Originally Expire?
December 31, 2021
Why Did the Tax Credit Get Extended and How Long?
It has now been extended until December 31, 2032.
You can read the entire 725 page Inflation Reduction Act. or just jump to page 367 where it talks about the changes to the 45L tax credit [Section 13340]..
The Inflation Reduction Act (IRA) was recently signed to be extended on August 16th. This means several exciting things for the clean energy world including:
- Increasing the Solar Tax Credit (ITC) to 30%
- Extending the existing 45L Tax Credit for energy-efficient single-family and multifamily homes for the next 10 years!
- Increasing the tax credit to $2,500 per home if it meets the eligibility standards of the EPA’s Energy STAR Single Family New Homes Program.
- $5000 tax credit to homes that are certified to meet the DOE’s Zero Energy Ready Home program. Zero Energy Ready Homes Requirements
How much money can you get with the tax credit?
- For homes acquired (closed or leased) from 1/1/2021 to 12/31/2022: $2,000
- For homes acquired (closed or leased) from 1/1/2023 to 12/31/2024:
- Homes that qualify for ENERGY STAR v3.1: $2,500
- Homes that qualify for DOE Zero Energy Ready: $5,000
- For homes acquired (closed or leased) from 1/1/2025 to 12/31/2032:
- Homes that qualify for ENERGY STAR v3.2: $2,500
- Homes that qualify for DOE Zero Energy Ready: $5,000
What Single Family Homes Qualify For The Tax Credit?
To qualify, the homes must receive a HERS Rating at minimum to demonstrate that the heating and cooling energy loads are 50% more efficient than a comparable house built to the 2006 IECC AND that building envelope improvements account for at least ⅕ of the 50% energy savings.
For example – if a builder starts a house today and it closes on January 2, 2023, it will need to be ENERGY STAR v3.1 Certified to get the tax credit.
What Are The Steps and How Does The 45L Tax Credit Work?
Starting in 2023 and beyond, Secure Home Inspections will run a free ENERGY STAR and/or DOE Zero Energy Ready Program analysis to help you understand how to qualify for the new tax credit.
Are You 45L Compliant?
If it all seems overwhelming, don’t worry that is what we are here for. To find out if the homes you are building qualify CLICK HERE.
Looking for information on multifamily 45L Tax Credits? CLICK HERE
The map of where versions of ENERGY STAR are in effect is posted below:
Video Smoke Detection
Video Image Smoke and Fire Detection (VISD) consists of a digital video camera coupled to a computer running video analysis software that can recognize smoke and fire in the image. VISD systems can monitor large volumes for visible indications of a fire.
Unlike traditional point-based detectors, VSD does not rely on proximity of smoke to the detector which enables it to detect the start of a fire before it causes any real damage. VSD incorporates standard video surveillance cameras with sophisticated image recognition and processing software to identify the distinctive characteristics of smoke and flame patterns, differentiating between smoke, dust and haze.
Companies offering solutions include:
Notifier (Honeywell)
Johnson Controls
Gentex Corporation
FLIR
NetVu
Halma plc
Honeywell Security
Fike
ORR Protection
National Fire Protection (NFP)
This process works for: Residential, Commercial, Industrial,Historic Structures and more.
What You Can Expect When You Engage With Our Inspection Company
Self Service Options:
77% of buyers said they preferred to do their own research (check review sites, run Google searches, etc.) rather than contact a sales representative. Because of this, Secure Home Inspections offers multiple NO TOUCH options to book your residential home inspection without ever having to speak to someone.
Book Online, Get Real-Time Inspector Schedule Access, Received Email Confirmation, Receive sms (text) updates along the way, Sign Inspection Agreement via e-signature (clicking one button), pay online (via credit Card). Of course the inspector does actually come out to the house…HA you can’t automate that. But the process to get it booked, contracted, paid and receiving reports is done without ever having to speak to a person.
We Resolve Issues Faster:
We know that 54% of Gen Z and 56% of Millennial stopped buying from a company in the past year due to poor customer service. Conversely, only 49% of Gen X and 38% of Boomers left a company due to poor customer experience. Regardless of the numbers, FASTER is always better when it comes to customer service and we are hyper aware of this.
How we do this, we have linked every single social media, phone, email and website to go directly to our customer service center and there isn’t a message sent to us that we don’t respond to immediately. Customers can text directly to our business line and receive a message back within 2 seconds. We are reachable by phone – 24/7.
We Have A Can-Do Attitude:
If there is ever a time we dont’ know the answer, we find someone who does and get right back to our customers. We find solutions! Period! We are ALWAYS able to answer your questions. We get just as frustrated when things aren’t working for you and we find ways to fix it. Customer service is literally what we are all about so when you feel it – we feel it. One of the biggest frustrations we find when real estate agents are wanting to book inspections is having to call so many different companies to get all the proper inspections setup for their clients. We realize this and so we have become the concierge for all real estate agents and home buyers. Call us and need a well & septic inspection, we will coordinate with our partnering company to get it done for you the same day as your home inspection.
We Spend Time Getting To Know Our Customers:
Knowing our customers is something we are constantly striving for. To do this, we dive into their journey from the moment before they need an inspection to the time period after they have moved into their home. We clarify this journey, each person’s needs and provide guidance in a multitude of ways that helps them feel good about their new home and the process. This in turn helps our inspectors serve better.
In The News – Secure Home Inspections based in Northern Virginia launches SecureBook – a Home Inspection Booking APP
While buyers are weeding through to find their perfect home and sellers are preparing to sell their homes, the search for a service professional, contractor or inspector can be overwhelming. (see press release)
Behind The Launch of SecureBook Mobile App
SecureBook, a Home Inspection Booking App recently launched in June aims to solve the three top pain points homeowners and real estate professionals are having when searching for and scheduling an inspector. First is reaching someone on the first ring if calling, second is getting an inspection booked same day or on weekends and third is the ability to book and confirm online with real-time inspector schedules.
Securebook app developer and co-owner of the inspection company behind this new mobile app, Cheryl Spangler knows all too well the struggles as a twenty year veteran of the real estate industry. “Time is money and having the ability to book inspections online 24/7 creates instant confidence with clients, timelines and is imperative to contingent contracts”.
But Cheryl is not the only real estate industry professional who has an opinion on this topic as real estate agents and brokers from around the U.S. chimed in, it was apparent the inspection industry was in need of a technology boost.
“We launched our mobile app on the Google Play and Apple store on June 14, 2022 and have seen an overwhelming response from both real estate agents and top level service professionals to join and use its features.” says Austin Spangler, Co-Owner of Secure Home Inspection LLC. “Our number one goal is to give real estate agents access to the best, most qualified inspectors at the moment they need it”.
Solving The Demands of Homeowners
In addition to real time scheduling of inspectors, there was an additional feature included in the initial release of the SecureBook mobile app. This feature is a “Resource” button that instantly connects homeowners and real estate agents not only to a qualified home inspector but to highly recommended service professionals and contractors in the Northern Virginia area.
“The resource section was an added bonus that has taken on a life of its own and we are very excited about where things are moving.” says Austin.
In Virginia there are over 8.6 million people, 66.7% of them own a home (according to the census bureau) and most or all of them need the services of a local professional at some point.
Most homeowners go through the daunting task of signing up on sites such as Angie’s List or Thumbtack and spend hours communicating and scheduling estimates. In return, the service professionals have to pay to be a part of those sites in order to be contacted.
Inside the SecureBook app, the resource button connects homeowners to contractors for no cost to either party, vets each contractor or professional to make sure all contact information is current and accurate and allows anyone who uses the app to submit their own in-app review. The initial resource list was created from active real estate professionals and their clients in and around Northern Virginia who had a positive experience after work was completed.
According to Austin Spangler, this idea was just one of the solutions that came out of a nationwide query of real estate professionals who were asked their biggest challenges when it came to home inspections and inspector firms. Agents candidly responded about their frustrations and what could make their job easier as inspections continue to be an integral part of the home buying experience.
Solving The Demands of Real Estate Professionals
“A simple reservation app would be a wonderful way to improve the customer/booking experience and is easy with global access to a number of proficient designers. I often put a bug in the ear of the Inspectors I work with” says Shaun Martin, owner, member and CEO of Denver Real Estate Solutions.
“I wish there was more immediate availability for the home inspection to be completed. Oftentimes the home inspector can’t make it to the property for several days which can delay the entire process” says Bill Samuel Broker of Blue Ladder Development.
“The market has been such a whirlwind for the past few years, I would just like it to be easier for buyers to get a home inspection.” says Tanya DiNicolantonio of Remax Escarpment Realty“
“So few home inspectors allow online booking options. I wish you could just log into the website, put in my information, and do everything online.” says Marina Vaamonde, owner and founder of Housecashin, America’s biggest marketplace for off-market houses for sale.
“A better home inspector always responds as soon as possible. It makes no difference even if you are a prominent home inspector but do not respond fast.” says Martin Carreon, Broker/Owner of Soco Wine Country Properties
“It would be great if there was a way to book immediately without having to wait for confirmation or speak to anyone. Basically there could be blacked out time slots to show availability. This way I can book an inspection any day/any time.” says Rick Albert, Broker Associate for Lamerica Real Estate
“Weekend home inspections would be helpful in our fast-paced market.” Says Ashley Melton, Realtor® for Agent Owned Realty in Charleston, SC.
Secure Home Inspections, founded in 2011 is a multi-inspector firm serving all of Northern Virginia. This fast growing residential inspection company has plans for expansion to be announced at a future date as well as technology and systems that will continue to increase inspector satisfaction and personalize the homeowner experience.
Master Bedroom Is A Thing Of The Past – Here’s Why
It’s now called Primary Bedroom.
The phrase “master bedroom” first appeared in the 1926 Sears catalog – interestingly enough Sears Holding filed Chaper 11 Bankruptcy in 2018 and bye bye Sears. We won’t go into the long story of what aused the downfall of Sears and the juicy details behind the store closings, let’s just suffice to say out with the old and in with the new.
Just like where Sears was once the largest retailer in the world, the master bedroom referred to the largest bedroom in the house.
In 2020 it was clear by the real estate industry and those consumers purchasing homes that the term “Master Bedroom” now has connotations of sounding innappropriate, lacking diversity, inclusion and even sexist.
What do you think of when you hear the word “master”…I will let you ponder that while I digress as to why this post is important and why the new term Primary Bedroom is more appropriate.
As of June 2020, a universal language system that keeps the industry consistent across digital platforms was put into place and in this system, primary bedroom is the new term to reflect the largest bedroom in the house in most cases on the upper level.
Things don’t stop there, it was also recommended that other terms change including replacing the term
…”his and hers bathroom” with the phrase Shared Bathroom.
…”walk up stairs” with the phrase Non-Elevator.
At Secure Home Inspections we are sensitive to this and realize all facets of the real estate industry need to adjust with the times, including inspectors. From this post forward, all inspection reports that include discussion about a “master bedroom” will reference it as a “primary bedroom”. It’s not an actual section in the report but when things come up like windows, bathrooms and well, anything structure related. If the issue pertains to that bedroom, it will be referenced as the primary bedroom.
Here’s an inspiring primary bedroom with a view to get thinking of all the ways you can integrate things around the bed to be the most amazing room in the house..but don’t forget to get it inspected!
Find a Home Inspector Near You and Book Direct From Our MAP
Where do you need your next home inspection?
Tap the red pin (city) to find one of our Home Inspectors Nearest You and Book Now!
Every week we ask our customers what they want to make their lives easier…VISUAL BOOKING!
Today we implemented the ability for a Real Estate Agent, Homebuyer or Homeseller to book direct from our map of inspectors.
It’s easy to just say “Well, go to our website, click the BOOK NOW button and choose an inspector etc. etc Step 1 completed. Our customers want to click a map, find their area closes to their property and the inspector that serves that area can be booked – DONE!
Today we made this possible and integrated this feature alongside Google Maps, Our Inspectors real-time scheduling software and our online booking software. Behind the scenes there is a lot going on, but to the customer they just have to find where their new home is located and click the red pin closest to it and book an inspector.
Other features that help our customers save time and reduce frustrations include:
- 24/7 online booking button directly linked to inspector schedules
- 7 Days a Week Schedule Availability
- Mobile APP booking options, download “SecureBook” and try it out today
- SMS text notifications 2 hours prior to your booked inspection appointment
- 5 second response time when you text our office # 540-860-0744
- Multi-inspector firm highly certified, insured and background checked
- Inspector specialties including: Pool Inspections, Thermal Imaging, Mold Spore testing
- 8:00am – 8:00pm inspection timeframes
It’s all about speed to book, thorough to inspect and consultants for life! Let us know how we can improve and we will take your feedback to heart and implement solutions.
P.S. Win a Free $500 Home Inspection tap here
When you focus all your energy on serving your customers, magical things happen
Cheers until the next post, have a great day
Secure Home Inspection VA Team
540-860-0744
Helping Families
My favorite thing about home inspection? Being able to help home buyers find their forever homes!!!!
Downsides of Skipping Home Inspections
With a Competitive Market, More Buyers Are Skipping Home Inspections
It’s easy to get swept up in the excitement of buying a new home. It’s even easier to forget to make the important decision to have a home inspection once under contract. Or, something that is increasingly occurring, skipping home inspections altogether. This is done to be more competitive in bidding wars in this sellers market.
Home inspections are an instrumental part of the homebuying process. They can save you a lot of time and money in the long run. Which is why if you’re purchasing an “AS IS” property, you should request an “Information Only” inspection. This will help you be better prepared and able to plan for the future.
Also, remember that a home appraisal and a home inspection are not the same thing. Appraisals will not provide you with a detailed look at a property that can help uncover deep-rooted problems and potential pitfalls. Appraisal’s are also being waived to be more competitive.
First Time Homebuyers Left With Disaster Home After Skipping The Inspection.
Florida’s Tampa Bay ABC Action News shared the following story in 2017: First time home buyer Jacob Pinder’s experience after skipping the home inspection.
In the above report, Jacob describes the aftermath of skipping home inspections as devastating. Jacob & his fiancé Amy bought into the Zillow ad that touted the home as move-in ready and well maintained. But after moving in, Jacob explains how they discovered extensive damage behind walls and under the home’s outside trim. Now the couple is suffering the consequences for buying a home as-is without an inspection. They fear being homeless as there is no money for extensive repairs.
FIVE RESONS TO HAVE A HOME INSPECTION:
Don’t Judge a Home by Its Façade
Especially for those buying newer construction, a home inspection may feel like a waste of money. No matter the age of the home, there can be costly troubles unknown to the average buyer. Problems with wiring, plumbing or structural issues may not be visible during a showing. Even before you get to the interior, you can do your own preliminary inspection. Simply walk around the home’s exterior and look for these four potential problems:
- Rotten / Damaged Siding;
- Water Pooling Around the House;
- Broken Gutters; &,
- Peeling Paint.
Save Money
Home inspection costs vary but a good rule of thumb would be to expect to pay from $300 to $500 depending on size and age of the home. That’s a good sum, but perhaps think of it this way: Those who skip out on the expense may realize in a few years that an inspection is much cheaper than rewiring the entire house.
Negotiate
One of the advantages of having a home inspection performed before you buy is the power it might give you to negotiate a lower price. If a home you’re really interested in is on the edge of your price range, information gathered during the home inspection may give you the bargaining power to talk down the price. You can also insert language into a purchase contract that allows you to back out of an agreement if the inspection turns up problems.
Seller’s Repairs
Not only are you able to negotiate a lower price, many buyers include clauses in their contract requiring the seller to make the repairs necessary before any money is exchanged. If the seller is unwilling to complete the repairs, estimate the cost and ask them to take that amount off the total. Solid facts about the quality and condition of the home can give you valuable bargaining power.
Remember that a seller’s repairs are not eligible to be included in seller concessions. VA guidelines allow the value of seller concessions to equal up to 4 percent of the selling price, but that 4 percent comes is in addition to any negotiated repairs. Learn more about seller concessions here.
Know What You’re Buying
In the end the most important reason to have a home inspection before you buy is to really know what you’re buying. Research your potential home like you would any other major purchase. The more you know, the fewer surprises there will be down the road. Home inspectors can help you make a decision based on your current budget as well as your future time and money investment.
Your home is your biggest investment. Build a team of experienced realtors, inspectors, & lenders to help guide you through the homebuying process.
First Time Home Buyer Experience
Our motto has always been “Your Home, Your Family, Your Trust!!!” and we are honored to be part of our clients real estate team as they find their future homes. Love this video Aron Brown assembled of a home inspection we performed for a first time home buyer:
Putting ourselves in your shoes!!!
We believe that we can only give our customers the care and high-quality service that they deserve once we fully understand their situation. Because of this, we put ourselves in the shoes of every new customer we work with (first time home buyers and seasoned buyers alike). We are dedicated to offering our customers the same amount of patience, understanding, and professionalism that we would want if we were undergoing the stressful process of trying to buy a new home. Customers can count on us to be available for all of their questions and to put their needs and concerns at the very top of our priority list.
We perform a visual home inspection of the structure and its systems, as well as an operational check of the various mechanical systems. We evaluate their present condition and life expectancy. Our home inspections often reveal defects that even the seller is not aware of. We provide reports in a easy to read narrative style support with digital pictures. Our philosophy is to provide timely, accurate home inspections while educating the customer about the status and operation of their home.
State Licensed, Insured & NRS Certified
Home-buyers are essentially assembling a “Real Estate Procurement Team” (made up of the Realtor, Lender, Inspector, Insurer, Title/Settlement Company, etc.) to aid them in making one of the largest decisions in their lives. Understanding this, Secure Home Inspections takes pride in utilizing their years of residential & commercial construction to aid clients in understanding what their future home is telling them.
Your Home Inspector Near You
As a State Licensed, Insured, New Resident Structure Certified Firm covering over 19+ Counties, we are where you need us to be. Count on Secure Home Inspections,LLC. to give you the unbiased, professional opinion you need, when YOU need it.
Proudly serving 19+ Counties in the Shenandoah Valley, Northern & Central Virginia (and their surrounding area’s):
- Albemarle County
- Clarke County
- Culpeper County
- Fairfax County
- Fauquier County
- Frederick County
- Greene County
- Louisa County
- Loudoun County
- Madison County
- Orange County
- Page County
- Prince William County
- Rappahannock County
- Rockingham County
- Shenandoah County
- Spotsylvania County
- Stafford County
- Warren County
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