Atlanta, Georgia is one of the pilot cities to launch the American Dream 2021, expanding home ownership; featuring over 40,000 new, healthier, energy-efficient homes across the country valued at over $18 Billion with up to $364 million in stimulus by providing home buyers free renewable energy and a discounted mortgage.
House X’s virtual home buying event is limited to selected markets in the United States and admission is free to consumers. Free stimulus incentives apply to all contracts executed until April 15, 2021 for home buyers.
The Atlanta Pilot includes:
- Over 2,750 new homes in over 409 communities with 982 homes ready for quick move-in
- Renewable electricity at zero cost to registered home buyers
- 1% discounted mortgage for the first 12 months, followed by either 14 or 29 years of fixed-rate record low mortgage rate on FDA conforming loans
- Local Impact:
- Potential reduction in carbon emissions–equivalent of removing 6,125 gas-powered cars off the road per year
- Potential free stimulus for renewable energy= $21.17 million going back into the local economy
WHY: The purpose of the event is to expand home ownership by educating consumers on the advantages of smart, healthier, sustainable homes that are more efficient, lower carbon footprint and less expensive to own, operate, protect and maintain – lowering total cost of ownership. The home is more important than ever since the onset of the pandemic and the trend was a highlight at CES with smart home technology with a focus on hygiene, cleanliness, energy-efficiency and sustainability.
The National Association of Home Builders (NAHB) is finding more and more evidence that the pandemic is changing America’s home buying plans. Rose Quint writes in NAHB’s Eye on Housing Blog that the percentage of those households considering purchasing a home within the next year took the largest jump in the history of the association’s Housing Trends Report.
The new administration is also launching efforts to expand home ownership and offset costs through a proposed tax incentive. The proposal states its purpose to:
“Help families buy their first homes and build wealth by creating a new refundable, advanceable tax credit of up to $15,000. Biden’s new First Down Payment Tax Credit will help families offset the costs of homebuying and help millions of families lay down roots for the first time. Building off of a temporary tax credit expanded as part of the Recovery Act, this tax credit will be permanent and advanceable, meaning that homebuyers receive the tax credit when they make the purchase instead of waiting to receive the assistance when they file taxes the following year.”
HOW:
- The Smart Mortgage™: House X has partnered with a leading mortgage lender to create a special below-market mortgage; a one percent discounted mortgage for the first 12 months of a 15- or 30-year fixed rate conforming mortgage.
- The Healthier Home: In collaboration with Delos, every home buyer will receive a multi-room advanced air purification system for their new home upon move-in, helping reduce particles that carry airborne bacteria, viruses and allergens.
- The Location Report™: Nothing will impact the financial picture of a home as much as its location. With custom insights available nowhere else, the House X Location Report reveals 300+ insights about any address in America. It is free to registered home shoppers.
- The RESNET Home Energy Rating System (HERS) Index is the nationally recognized system for inspecting and calculating a home’s energy performance. Similar to a MPG sticker for cars, except for new homes.
WHEN: American Dream 2021 Pilot Program will include free stimulus incentives on fully executed purchase contracts until April 15, 2021.
WHERE: American Dream 2021 is limited to home purchases in selected pilot cities available on the House X website.
