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Below is our weekly newsletter outlining events and news related to the Neighborhood Stabilization Program. We hope you find this informative and helpful in you or your client's efforts to purchase a home in the Atlanta area. |
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How Do NSP Homes Differ from Others on the Market?
The Developer/General Contractor
For starters, NSP Developers had to submit detailed applications to be considered for the program. These applications included financial information on both the company and its owners. In the case of Environs Residential, we are both the NSP Developer and the builder or General Contractor. In simple terms, we have a lot of "skin in the game". We can't point a finger at a contractor error since "we are the contractor"! Even those developers who have partnered with a General Contractor to build their NSP homes are required to use only companies with program mandated levels of licensure and insurance. NSP home buyers can be assured that their home was renovated by experienced, licensed contractors and subcontractors.
Planning and Permitting
In our view, the most important aspect of a construction project is the planning phase. It is much easier to solve a problem on a piece of paper rather than on-site and "on the fly". We produce detailed plans for all of our NSP projects, adjusting kitchen details, flow and room sizes all before we pull a permit or hammer a nail. This is not necessarily required for permitting (more on that in another post) but we have to submit detailed Work Writeups to the NSP administrators at the city, a task that is much easier and accurate with good plans. I expect most of the other NSP Developers do so as well.
ALL NSP homes must be properly permitted by the City of Atlanta Bureau of Buildings. Other private developers, (NOT ALL) sometimes fail to permit their projects at all or they "under permit" meaning, they pull a Repair Permit when the work to be done is more extensive than just repairs. Homeowners purchasing homes that were renovated without the proper permitting process being followed run the risk of buying a home with improper electrical, plumbing, HVAC and structural components. No home inspector can see through the wall to see whether the electrical was installed correctly. The best assurance of contractor code compliance is to make sure a project was properly permitted.
The link below offers some information on what DOES NOT constitute a "general repair" according to the City of Atlanta permit rules. Home buyers and their agents should check what type of permit was issued for homes that have recently been renovated before going to contract or hiring an inspector. A little research can save time and money.
Construction Monitoring
As mentioned above, NSP Developers must submit a Detailed Work Writeup before beginning any work on an NSP home.
This work write up is reviewed with a program Construction Monitor before we start and throughout the construction process. The monitors are independent agencies working for the program recipients (in our case the City of Atlanta) to ensure the Developers are in fact, performing the work as approved in the initial work write up. Homebuyers can look at this procedure as having their own, personal advocate to ensure their home is constructed properly! In our view, this is the single most important reason for homebuyers to consider purchasing an NSP home. The joys of homeownership can quickly become a nightmare if a home is poorly built or rehabbed. Repair costs can be unlimited and very often, there is little recourse a homeowner has against a bad builder or developer.
In summary, yes, down payment assistance, closing costs and other cash incentives are nice elements of the NSP program and can make it a bit easier for a homebuyer to get into the house of their dreams. But...the assurance that a home was properly evaluated, permitted, rehabbed and monitored is really what makes this program a "Homebuyer Slam Dunk". NSP does not produce "Money Pit" homes. We produce homes with both structural and design longevity so we know anyone who purchases one will be extremely happy with the investment.
NEXT WEEK-Where are the NSP homes in Atlanta?
As always, please let us know if you have any questions regarding the fantastic buyer incentives available with NSP funds.
or call (404) 810-0025 today! |
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