Home Building in Today's Economy

September 27, 2011

In today’s uncertain economy there is great debate over what needs to be done to improve the future for every American citizen. According to the National Association of Home Builders (NAHB), new construction homes might be just the boost our economy needs.

Residential construction directly and positively impacts the United States economy.  The NAHB estimates that three jobs are created for every new single-family homethat is built.  These jobs are generated in the industries where lumber, concrete, lighting fixtures, heating and cooling equipment and other products used in the home building industry, are produced. Additional jobs are created for professionals such as architects, lawyers, lenders and real estate agents.

Not only does new home construction create countless jobs, but it also generates tax revenue for both the federal and local governments.

The NAHB estimates that for every new single-family home that is built, $90,000 in government revenue is earned.  This tax income comes from workers and business owners who are subject to federal, state and social security taxes, as well as from sales tax.

If you are considering building a new home, there are incentives available to help you. 
Tax credits are offered when energy efficient resources are used in a new or existing home.  These include a tax credit of 30% of cost with no upper limit, on Geothermal Heat Pumps, Small Wind Turbines and Solar Energy Systems through 2016. For more information on energy efficiency tax credits, visit energystar.gov.

Otero Signature Homes is also currently offering an Incentive program. We would love to turn your dream home into a reality.  To help make this possible we are offering a $15,000 credit towards a state of the art outdoor living space OR an exquisite finished basement, for new builds with design signed prior to October 31, 2011*.

For more information on building your dream home or to set up your free consultation at our brand new state of the art Design Center, call us today at 440-543-3333.

*Some restrictions may apply. Not valid on current contracts. Subject to standard
underwriting guidelines.