New Housing Project in US

With the housing market still recuperating from the housing crisis, there are hardly any new housing projects in US that have taken off. The impact of the mortgage crisis was felt in all the states of the United States.

The only difference is that the intensity of the disaster may have been different in the states.

Current scenario of the housing market in US
Since the housing market is still in a phase of recovery, there are many new homes that are still waiting for an owner. This has also impacted the real estate agents in a negative manner as they are no longer doing brisk business anymore.
However, it doesn’t necessarily mean that no homes are being sold. Most of the people are opting for homes lost in foreclosure. This is because these homes usually come for a lower cost as compared to new homes. So, even if new housing projects in US are coming up, there are very few takers for the same.

New housing projects in US to focus on energy efficient homes

The new housing projects in US are expected to be constructed as per guidelines of green homes. This is a trend that is fast catching up in the real estate market in the United States. Concepts like energy credits, energy tax credits etc are being fed into the minds of the people so that judicious use of renewable resources is made.
This has led to the inclusion of several environmental friendly materials that are being used in the construction of houses in the US. However, it is important to find out the building materials that qualify for the tax credits under the Fed program.

HUD or US Department of Housing and Urban Development

The new housing projects in US as well as the ones that have already come up are regulated by the Housing Authority of United States. However, the State Housing Authorities operate at the state level.
Irrespective of the state in which you are buying a home, there are few aspects that you need to take into account. You can book your dream home in one of the new housing projects in US or buy a foreclosed home. Whatever is the case, it is important to pay heed to the following –
* Determine your affordability
* Get home inspection done
* Shop around for a mortgage
* Be aware of your rights
* Place an offer
* Seek help of a real estate broker in case you are not able to handle it on your own
* Find out about homeowners’ insurance etc
The best way to save some cash is to opt for the green homes that the new housing projects in US are concentrating on. This is because it will not only help you to save your utility bills but you will have to shell out less when you file your tax return.