ROI of Radon Reducing New Construction
Having your dream home built? Make sure you talk to your builder about Radon Reducing New Construction (RRNC) methods and techniques to help keep you and your family safe. Additionally, this will be a huge selling point for “health-conscious home buyers” down the road when you’re working to secure your return on investment.
RRNC is an affordable measure that can be taken during the construction of a home to effectively reduce the homes radon level by approximately 50%. Be sure to hire a properly trained contractor to perform the installation. Although it looks simple, if not done properly it could end up not working at all and then costing more money in the long run to fix it.
It’s important to understand the various options available as “the cost to a builder of including radon-resistant features in a new home during construction can vary widely. Many builders routinely include these features in some of their homes. The cost to the builder of including these features is typically less than the cost to mitigate the home after construction.” (EPA)
For more detailed techniques view Model Standards and Techniques for Control of Radon in New Residential Buildings.
Financing Residential Radon Mitigation Costs
Using the HUD 203(k) Mortgage Insurance Program to Reduce the Risk of Lung Cancer in People
The Section 203(k) mortgage financing program is the Housing and Urban Development’s (HUD) primary tool for rehabilitating and improving single family homes. The program allows home buyers to finance the purchase and repair or improvement of a home using a single mortgage loan.
Reducing radon levels in a home is an improvement that can be financed through a 203(k) mortgage loan. Part of the 203(k) mortgage proceeds must be used to pay the costs of rehabilitating or improving a residential property.
- To qualify, the total cost of the eligible repairs or improvements, including fixes to reduce radon levels, must be at least $5,000.
- The 203(k) program is an important tool for expanding home ownership, revitalizing homes, neighborhoods and communities and for making homes healthier and safer for those who occupy them.
Homes eligible for 203(k) financing include:
- one to four-family dwellings that have been completed for at least one year;
- dwellings that have been demolished, provided some of the existing foundation system remains; and,
- converting a one-family dwelling into a two, three, or four-family dwelling; or, alternatively, converting an existing multi-unit dwelling into a one to four-family unit.
The 203(k) program has been used successfully by many lenders to rehabilitate properties through partnerships with state and local housing agencies and with non-profit organizations. To further help borrowers buy homes, lenders have found innovative ways to combine the 203(k) program with other financial resources like HUD’s HOPE and Community Development Block Grant Programs.
Contact an FHA-approved lender in your area for more information about HUD’s 203(k) program, or if you are interested in getting a 203(k) insured mortgage loan. To find a lender, please use HUD’s Lender List (LINK).
Does your attic contain vermiculite insulation?
Does your attic contain vermiculite insulation?
According to the Zonolite Attic Insulation Trust, approximately 80% of the vermiculite sold in this country before 1990 came from a mine in Libby, MT that was contaminated with asbestos. The product was primarily sold under the brand name “Zonolite.” The EPA recommends treating all vermiculite insulation as if it is contaminated with asbestos. We recommend further evaluation and testing or researching the EPAs recommendation. If asbestos is found, or if the material is believed to be the Zonolite brand, we recommend consulting a licensed asbestos abatement contractor for next steps. Prior to abatement, you may wish to contact the Zonolite Attic Insulation Trust to determine your eligibility for partial reimbursement of abatement costs.
The Zonolite Attic Insulation Trust has been set up to provide financial assistance to homeowners with Zonolite attic insulation in the form of reimbursement of abatement costs. More information can be found at www.zaitrust.com or by calling the Trust at 844-924-2255 (844-ZAI-CALL) as well the Trust firstname.lastname@example.org email address.
The above information was provided by the ZAI Trust. To learn more for your specific state, please follow this LINK.
Learn More from the EPA: Protect Your Family from Asbestos-Contaminated Vermiculite Insulation
CERTIFIED MASTER INSPECTOR
Secure Home Inspections, LLC. is pleased to announce that Tom Mitchell is now credentialed as a Certified Master Inspector (CMI)®, which is the inspection industry’s TOP professional designation.
The Master Inspector Certification Board has awarded the Certified Master Inspector (CMI)® designation to Mr. Mitchell for demonstrating the highest level of competency by completing 1,000 fee-paid inspections and/or hours of inspection-related Continuing Education, for having been in the inspection business for at least three years, for abiding by the industry’s toughest Code of Ethics, and for agreeing to periodic background checks.
Mr. Mitchell wishes to thank his clients and colleagues for their continued support of Secure Home Inspections, LLC.
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Secure Home Inspections has been serving the Shenandoah Valley, Central & Northern Virginia areas for the past seven years, specializing in Historic Homes and New-Construction Inspections, with an emphasis on HUD Renovation Consultation, Energy Savings and Indoor Air Quality.