A regular hurdle we have encountered when trying to build high performance homes in the Midwest is the homeowner financing for the project. Many interested homeowners are easily approved for home construction loans, however, most Midwestern banks do not recognize the added value associated with building to superior standards.
Banks essentially give home appraisals based on square footage and the typical market rate of similar sized homes in the area. They do not account for the increased durability (value) and lower energy consumption (savings) of homes that are built using high performance techniques.
Because high performance homes can cost 5-15% more to build, banks think that the higher cost should be reflected in more square footage rather than higher value. They see the project as more risky, and thus require more initial investment, in upwards of 30% or more. This puts an incredible burden on homeowners interested in building a high performance home.
Finally, we have a solution to this problem.
A local individual trained to identify the value associated with high performance homes could translate more appealing numbers to stubborn Midwestern banks.
We are in contact with an NMLS Course Provider & Instructor who can provide training locally to individuals interested in learning how to properly evaluate high performance homes.
If you are interested in becoming the only certified High Performance Home Appraiser in Kansas City and being on the forefront of this home building revolution, please contact us immediately at either 913.441.0000 or email@example.com.