Stanton Homes - Building Green in the Triangle: March 2009

Buying a Green Home

Solar Photovoltaic Power for Your Home

How Much Does a PV System Cost?

If you're considering going green with your new (or existing) home, one of your first questions is probably - how much is a solar photovoltaic (PV) system going to cost?  The answer can vary quite a bit, but here's some basic considerations:

Federal and State Tax Credits

In North Carolina, there are significant tax credits available.  You'll want to check with your tax accountant to make sure you're eligible.  Or, if you're working through Southern Energy Management, you'll be able to take advantage of their tax accountant, who answers these kinds of questions regularly!

So for some photovoltaic systems, nearly 70% of the system can be paid for by both state and federal solar energy tax credits.

What Size Photovoltaic System Will You Need?

The typical "starting point" for a photovoltaic solar power system is 2 killowatts.  To put this in perspective, a typical 2000 sq ft home uses 12 killowatts. 

Average cost per watt to build a photovoltaic system, start to finish, is $8-$10 per watt, with the price per watt decreasing as the size of the system increases, per Southern Energy Management, a nationally recognized solar power installer.

So a typical 2 kWh system will take care of a small portion of your needs, with a total cost of somewhere around $20,000, depending on site conditions and other factors.   This is before any tax credits or other cost savings factors.

What About Selling Your Solar Power?

The state of North Carolina strongly encourages the use of green power.  NC GreenPower is an independent, nonprofit organization that basically buys clean, green power (solar, wind, water, etc) from sources and "sells" it to average users who want to use power that's better for the environment.

Basically, you'll "sell" your solar generated photovoltaic power for about $.15/kWh, while paying approximately $.10/kWh for "regular" electricity.

In addition, you'll also get credits back from the power company, usually about $.05/kWh. 

So the electricity your solar photovoltaic system generates produces a "cash crop", while creating clean green power! 

Other Cost Breaks for PV Systems

Talk to your accountant.  There is also depreciation and a few other factors that may contribute to lower overall costs. 

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Solar Photovoltaic Power for Your Home

Basic Types of PV Systems

For many people, the ultimate "green" is having the sun provide all of your daily power requirements.  In NC, there are two basic kinds of solar photovoltaic systems.

For those who want to live "off the grid", it may be a surprise that both types of systems are actually grid-tied, and that a grid-tied system is the most financially feasible! 

Grid Tied without Batteries

This is the most common type of PV system.

The photovoltaic system will shut down when the utility grid is down, so that linemen don't get shocked by the return of electricity through the power lines.

The system consists entirely of solar panels and an inverter.

Grid Tied With Battery Back Up

A grid tied photovoltaic system with battery back up is less common. 

The home will be supplied with electricity when the utility grid is down.

Most batteries have a capacity of 20 kWh - a refrigerator requires 1.5 kWh per day.  The battery back up most likely will not support heating and cooling, but will maintain most essentials. 

The solar panels will continue to recharge the batteries as long as there is available sunlight.

The system consists of solar panels, an inverter, and a battery box, usually placed in the garage.  The battery box is roughly 2.5'x2.5'x4', and must have some kind of ventilation (ie it cannot be boxed in or placed in a closed closet). 

Off Grid Photovoltaic Power

Most commonly, something off the grid supports a unique function, such as a stand-alone solar panel well pump or swimming pool heater. 

These off-grid systems are more commonly found as ground-supported systems, while roof space is generally used for solar hot water heaters and more traditional photovoltaic (PV) systems.

Building a Home with Solar Photovoltaic Power

A PV system can be added as a retrofit on an existing home, but it's probably easiest to determine your desire for clean solar power before the home is in framing stage, or even before. 

Ideally, the home will have at least some south-facing exposure, on the front or back of the home.  Knowing this, you can choose a lot and foundation location that will give you the most potential sunlight exposure.

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Renting vs. Buying

Trulia Offers Rent vs Buy Calculator

Here's What You Should Know Before You Use It!

Trulia is focused on promoting their Rent vs. Buy Calculator.

Here's some things to think about:

$8,000 Homebuyer Tax Credit

The calculator does not take the $8,000 Homebuyer Tax Credit into account.  This can make a big difference, particularly if you would have had to dig into savings (or use a credit card!) to pay your tax bill without the credit. 

Record Low Interest Rates

Be sure to change the default interest rate from 6% (which was much more standard a year ago!) to today's rates, which can be as low as 4.75%, or possibly lower!

Accurate Property Tax Rates

Enter an accurate property tax rate amount.  Check our easy guide to Triangle NC Property Tax Rates here.  Many areas are much lower than the default rates.  And remember, the property tax rate depends on the ASSESSED value, not the sales price of the home. 

Property Taxes - Easy Guide to the Cheapest (and Most Expensive) Places to Live in the Triangle!

Annual Maintanence Cost

The annual maintanence cost will be very low on a new home (particularly with a solid, reputable builder and a full warranty), and could be much higher on a resale home.  An easy solution could be to ask for an extended warranty, which can cover the cost of replacing the air conditioner, heater, etc and limit higher expenses. 

Consider a 15 Year Loan

Want to reduce the amount of interest you'll pay?  Consider a 15 year loan.  Your monthly payments will be a bit higher, but the amount of interest you'll pay over the life of the loan will decrease significantly.  Try an amortization calculator to see the difference.

Owning a Home

One more thing to consider - the calculator doesn't really show that at the end of 15 years, or 30 years, you will OWN a home, which you can then live in rent- or mortgage-payment free, or even rent out for additional income. 

Just a few things to think about when using a calculator!  Want to try it?

Trulia Rent vs Buy Calculator

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Green Homes Raleigh NC

Triangle Custom Home Builder Stanton Homes Announces

Green Home Q & A Hot Spot

GreenHomesTriangle.com Highlights Green Features and Topics

We're excited about the launch of our newest information hot spot - www.GreenHomesTriangle.com!

This green building website will feature articles and answers to some of the most asked Green Home questions.  Topics include:

Green Home Certification - How Does it Work?

Solar Water Heaters

Rainwater Collection

Saving Energy

Saving Water

EnergyWise - Guaranteed 50-70% Heating and Cooling Cost Reduction

ENERGY STAR Certified Homes

Green Building Materials

Choosing a "Green" Location to Build Your New Home

Green Home Events

and much more! 

Buying or building a green home helps protect the environment, reduces reliance on natural resources, reduces harmful emissions inside and outside the home, and increases resale value. 

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Bayer and Healthy Home Insulation Host Energy Savings Breakfast & Learn

EnergyWise "Green Building" Featured Topic

Healthy Home Insulation and Stanton Homes announce a free educational breakfast & learn for area real estate professionals, with emphasis on 50-70% heating and cooling cost savings in homes with EnergyWise - a green building energy-saving solution.

The EnergyWise educational breakfast will be held in North Raleigh on Thursday, April 2^nd from 8-9am. 

Attendees are invited to come 30 minutes early for additional networking, continental breakfast, and coffee, before the breakfast & learn session. 

"EnergyWise is one of the fastest growing attention-getters in the home building industry," said Penny Hull, VP of Business Development at Stanton Homes.  "In a homebuyers market that is increasingly cost-conscious and green savvy, this informational session from Bayer and Healthy Home Insulation will really help area professionals gain expertise as energy alternative experts. It's incredibly valuable to know how EnergyWise gets right to the bottom line, saving on monthly bills while reducing reliance on limited energy sources."   

EnergyWise systems design and precise HVAC sizing allows homeowners to take full advantage of the thermal envelope that Bayseal polyurethane spray foam provides. EnergyWise uses a proprietary, state-of-the-art computer program backed by developer experience as NASA thermal consultants. The company provides an extensive energy analysis report and exclusive, two-year performance guarantee. 

EnergyWise systems provide an unprecedented 50-70% savings on heating and cooling costs, GUARANTEED! 

Tu Nguyen of Healthy Home Insulation will host the breakfast & learn.  He will explain why EnergyWise is able to guarantee energy bill savings, as well as the difference between EnergyWise and other energy-saving solutions such as ENERGY STAR. 

RSVP for free admittance to this popular event.  Call 919-278-8070 or email info@StantonHomes.com to reserve a seat. 

About Stanton Homes
Stanton Homes builds exceptional living experiences, with renowned, spacious, inviting custom homes in the Raleigh/Triangle area.  Stanton Homes builds on land and in new home communities across the Triangle, including Wake, Harnett, Lee, Johnston, Chatham, Alamance, and Orange counties. As a custom home builder, Stanton Homes can adjust floor plans, enlarge kitchens, add closets, or even accommodate special needs like full disability or wheelchair accessibility and Specially Adapted Housing (SAH). Call Stanton Homes at 919-278-8070.

Stanton Homes. Building Exceptional Living Experiences  http://www.StantonHomes.com

About BaySystems^TM:
Effective March 1, 2007, Bayer MaterialScience has combined its entire global polyurethane systems business under the umbrella brand of BaySystems^TM. This change affects not only existing product brands in this segment - including Bayseal^TM - but also the global network of polyurethane systems houses. More information about BaySystems^TM can be found at www.bayer-baysystems.com.

Bayer MaterialScience LLC is one of the leading producers of polymers and high-performance plastics in North America and is part of the global Bayer MaterialScience business with nearly 15,400 employees at 30 sites around the world and 2007 sales of 10.4 billion euros. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction, medical, and sports and leisure industries. Our inorganic basic chemicals unit produces chlorine and related essential products for the chemicals industry. Let us give life to your vision. Bayer MaterialScience - Where VisionWorks.

Bayer Corporation, headquartered in Pittsburgh, is a subsidiary of Bayer AG, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. In North America, Bayer had 2007 net sales of 8.1 billion euros and employed 16,800 at year end.  Bayer's three subgroups, Bayer HealthCare, Bayer CropScience and Bayer MaterialScience, improve people's lives through a broad range of essential products that help diagnose, prevent and treat diseases; protect crops and enhance yields; and advance automobile safety and durability.

Contact:
Bill Allan, Phone: 412-777-5200
E-mail: bill.allan@bayerbms.com

For more information about BaySystems^TM Spray Insulation & Roofing Materials contact info@baysystemsspray.com.

For more information about Bayer MaterialScience, call 1-800-662-2927, e-mail naftainfo@bayerbms.com or visit www.bayermaterialsciencenafta.com.

For more information about EnergyWise Structures, visit the company Web site, energywisestructures.com. For more information about the company's Energywise guaranteed energy savings building solution, visit www.baysystemsspray.com.

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Raleigh Relocation Package - Property Tax Rates

Compare Property Taxes for Top Triangle Counties and Cities!

Who Has the Best Property Tax Rates:

Raleigh, Durham, Chapel Hill, or Surrounding Areas?

Property tax rates can vary quite a bit per city and county location in the Triangle NC area.  To make it easy to compare different counties and cities in the Triangle NC area, we've created this handy property tax comparison reference guide.

All tax rates are based on a home with an appraised value of $200,000.  Click on the links to find property tax rate charts for each city within the county, plus county-only rates.  We've also included information on how to find out where the home is located, what the appraised value of your Triangle NC new home is, and more.

Wake County Property Tax Rates

Home to Raleigh, NC and other top destinations like Cary, Holly Springs, Wake Forest, Morrisville, Apex, and more.

Highest Property Tax Rate in Wake County NC: 

Clayton, NC - $2148 yearly, or $179 monthly.

Lowest Property Tax Rate in Wake County NC:

Cary, NC - $1728 yearly, or $144 monthly.

Durham County Property Tax Rates

Durham NC forms the northern point of the Triangle, northwest of Raleigh and northeast of Chapel Hill. 

Highest Property Tax Rate in Durham County NC:

City of Chapel Hill - $2578 yearly, or $215 monthly.

Lowest Property Tax Rate in Durham County NC:

Bahama, NC - $1536 yearly, or $128 monthly. 

Orange County NC Property Tax Rates (Chapel Hill NC)

Chapel Hill NC forms the third point of the Triangle, and includes historic UNC Chapel Hill.  Neighboring counties include Chatham, Person, Alamance, and Durham.  Top cities are Chapel Hill, Carrboro, and Hillsborough.

Highest Property Tax Rate in Orange County NC

Downtown Revitalization Municipality of Chapel Hill NC - $3798 yearly, or $317 monthly.

Lowest Property Tax Rate in Orange County NC

Eno, Elfland, or Orange Fire Districts (outside city limits) - $2122 yearly, or $177 monthly. 

Lee County NC Property Tax Rates (Sanford NC)

Lee County is just north of Fort Bragg, and a popular destination for military families looking for a middle ground between Raleigh and Fort Bragg NC.  Spacious, inexpensive lots and lower home costs make Lee County appealing to Raleigh area homebuyers.

Highest Property Tax Rate in Lee County NC

City of Sanford NC - $2580 yearly, or $215 monthly

Lowest Property Tax Rate in Lee County NC

Cape Fear Fire District (outside city limits) - $1652 yearly, or $138 monthly. 

Chatham County NC (Pittsboro/Jordan Lake) Property Tax Rates

Chatham County is west of Wake County and south of Orange County, and borders Cary, Carrboro, Chapel Hill, and Apex.  The outstanding feature is Jordan Lake, along with wineries, gently rolling wooded landscapes, and much more. 

Highest Property Tax Rate in Chatham County NC

Town of Siler City NC - $2134 yearly, or $178 monthly

Lowest Property Tax Rate in Chatham County NC

Central Chatham Fire District - $1354 yearly, or $113 monthly

Johnston County NC (Clayton) Property Tax Rates

Johnson County is on the southeastern side of Raleigh, and offers an easy commute to downtown Raleigh.  There's lots of new shopping in Clayton, and the beach is closer than nearly anywhere else in the Triangle!

Highest Property Tax Rate in Johnston County NC

Town of Smithfield - $2700 yearly, or $225 monthly.

Lowest Property Tax Rate in Johnston County NC

Moccassin Creek Service District (outside city limits) - $1600 yearly, or $133 monthly.

Click here for information on all other Johnston County tax rates, by city. 

Granville County NC (Creedmoor) Property Tax Rates

Granville County is just north of Wake Forest, and offers rolling, wooded landscapes near cities like Oxford, Creedmoor, and Butner.  

Highest Property Tax Rate in Granville County NC

City of Creedmoor - $2960 yearly, or $247 monthly. 

Lowest Property Tax Rate in Granville County NC

Granville County (outside city limits) - $1510 yearly, or $126 monthly. 

Click here for more information on all other Granville County tax rates, by city.   

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Updated MLS Options Help Find Green Homes and Features in the Triangle

Believe it or not, the Triangle MLS system as of a week ago had no options to help homebuyers search for a green home in the area.  But thanks to the relentless work of the Green Home Builders of the Triangle, among others, it's now easy to find a home with the green features you're looking for, like:

Solar Hot Water
Tankless Water Heater
Geo Thermal Heat System (closed loop)
Sealed Crawl Space
No-Low VOC in Paints, Sealants, Varnishes
Spray Foam Insulation
Engineered Wood Products
ENERGY STAR® Appliances
ENERGY STAR ® Lighting Fixtures
EPA WaterSense Plumbing Fixtures
Sealed Combustion Fireplaces/Woodstoves
Photovoltaics -Solar Power
Advanced Framing/Concrete Construction
Infill Lot
Rainwater Collection
Xeriscaping-Drought-Resistant Plants
Fresh Air Ventilation
Recycled Construction/Household Waste
Radiant Heated Floors

Green Building Certifications

ENERGY STAR® Homes
GHBT Green Certified Home
NC Healthy Built Home Certified
LEED-H Certified

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Home Buyer Tax Credits - Differences Between Programs

Explaining the 2008 Program Versus 2009 Program - How Do They Work?

Walter Updegrave, Senior Publisher of Money Magazine, has written an excellent explanation and comparison of the two very different tax credits for first time homebuyers.

Did you buy a home between April 8, 2008 and December 31, 2008?  Walter explains how the 2008 homebuyer tax credit works, and what the difference is between buyers who purchased last year, and those who plan to buy a new home this year.

Bought a home after January 1st, 2009?  Walter talks about how you can use the Home Buyer Tax Credit on your 2008 returns - and possibly get a huge return this year instead of next year!  But be aware - this program has an unexpected expiration date.   

Read the full story here.

And remember - there is a loophole on the new tax credit.  Homebuyers will qualify for the $8,000 credit if they haven't owned a home for the past three years.

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