The Federal Reserve has decided to keep historically low interest rates on mortgages until 2013. What this means for people looking to build a green home is that their mortgage will be much cheaper than it may have been in years past. With the interest savings on the mortgage rates, and the energy savings you’ll gain from your new green home, you absolutely can’t go wrong.
There are also property tax abatements for green home construction and renovation in Houston, as well as Federal Tax Incentives for green homes, energy saving appliances and other eco-friendly construction and modes of homes. This is a fantastic time to go green in your luxury home building choices and is a fantastic time to buy an already- built home and renovate it to be greener than it is or make it completely green.
The interest rates set by the Fed won’t stay this low forever. The rates are set to rise again in 2013, and it’s hard to say how much they will rise. From now til 2013 is your best window of opportunity to build your luxury green home and make it pay for itself before you’ve finished paying the mortgage. Between tax breaks, energy savings and ridiculously low interest rates, you could easily have the home of your dreams for much less than you planned to pay, or thought you might have to pay. It’s a no-brainer. This is truly the best time to go green!