Blog Archives

The Cost of Building Materials Up Nearly 20% Year-Over-Year

5/17/2022

Photo by Mark Potterton

By Colin O'Leary
May 17th, 2022

The cost to construct new homes in America continues to rise. Faced with a combination of rising interest rates and shortage of listing inventory, the situation is only getting worse for home buyers. Rising mortgage costs hasn't put a damper on demand for new construction, at least not yet. The median sales price for a home in the United States continues to rise. The median sales price for a home in America is now $425,000 according to Redfin, up nearly 16% year-0ver-year. It's a challenging situation for home builders too, who are struggling to keep up with demand, while trying to turn a profit. Soaring inflation and supply chain issues hasn't helped the situation. The cost for building materials such as lumber, steel, and concrete continues to rise. According to a recent article from the National Association of Home Builders, the cost of building materials has risen 4.9% since the beginning of the year. Building materials prices are up nearly 20% year-over-year, and are up 35.6% since the start of the pandemic in 2020.

Read the full article here

0 Comments

5 Tips For Energy Efficient Home Renovations in NYC

5/11/2022

2 Comments

May 11th, 2022
Guest blog post

Is this the year that you will be renovating or updating your new or existing home? Even if you love your home as it is, there’s always room for some updates and refreshers. Over time, paint gets nicked and dirty from city soot and grime, and styles change and evolve. We have been cooped up 24/7 in our apartments working from home for almost 2 years, which has created an increase in wear and tear.

At the same time, there have been some amazing technological advances in the energy efficiency space, so why not incorporate those in your next renovation?

Energy efficiency creates some very substantial long-term savings; maybe not enough for that retirement home on the beach that you have been dreaming about, but who would say “no” to more money in their pocket at the end of every month? Making your home energy efficient is also good for the environment. For those who live in a coop or condo, making your apartment energy efficient will also help improving that D that is posted at the building’s entrance. Read more about that here

Making your home energy efficient and reducing your carbon output will also make you a hero to many and may inspire others to do the same!

Here are the top 5 tips for an energy efficient home renovation from our friends at The Folson Group:

Light fixtures: Replace undercabinet lights, puck lights, and recessed fixtures with the most recent technology. If you installed these when you moved in 20 years ago, the upgrade would greatly reduce your carbon output and electric charges. If you replaced these 5 years ago, the LED advances in the last few years have been so significant that it would still have a substantial impact both on the environment and in your wallet.
Light bulbs: Replace light bulbs in all decorative lights with LED bulbs. Common resistance is that they are cold and give light as if it was a hospital. This is no longer true. LED technology has come a long way and nowadays they give light very similar to incandescent bulbs, although the best way to select the desired LED color temperature is to test it. The warm temperatures are in the 2700K to 3500K range. The higher numbers, the cooler the color temperature. So, what many refer to as hospital-bright is probably over 5000K. Home Depot has a great LED color guide.
Air Conditioners: ACs are one of the worst energy suckers. Upgrade your ACs with EnergyStar Approved units. Have it professionally installed with adequate insulation and sealants. This will prevent leakage of air in the undesirable temperature both in the summer and in the winter. Instead of cranking the AC up, consider a ceiling fan if you like that look, or a portable fan as they use much less energy than ACs do. If your board allows you to install a heat pump for your unit, we highly recommend it!
Appliances: Kitchen appliances and laundry machines also use a lot of energy. We are seeing more and more boards requiring all sellers to upgrade their appliances with EnergyStar approved appliances before the board approves the sale. This is done through The Folson Group’s proprietary policy that they offer to all their clients.
Water: The largest drain of water comes from toilets, showers, and tubs. While the standard toilet tank used 3.5 gallons per flush in the 1990s, there are now toilets with tanks that are 0.8 GPF. These advanced toilets are also vacuum assist and do not have a flapper. According to the EPA, 6% of all water use is caused by leaks and much of that is caused by an old flapper!

If you live in a single-family home, as opposed to a coop or condo, the options are even wider. Some of the additional single-family home Energy Efficiency options include:

1. Hot Water System
2. Heating / Cooling
3. Insulation
4. Solar panels

We hope you found these tips useful and will help you make your home more energy efficient, save the planet, and maybe help you get that beach home!

If you are on your coop or condo board, feel free to reach out to The Folson Group directly as they always want to hear what boards and buildings are working on.

Their contact information is: www.thefolsongroup.com | email: info@thefolsongroup.com | (917) 648-8154

2 Comments

The Big City Team
Berkshire Hathaway HomeServices
590 Madison Avenue, 40th floor
New York, New York 10022
Founder & Team Leader: Colin O'Leary
Email: thebigcityteam@bhhsnyp.com
Phone: 646-300-2012

Berkshire Hathaway Home Services New York Properties: © 2022 An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation. Copyright © 2022 The Big City Team at Berkshire Hathway HomeServices New York Properties, All rights reserved
Privacy Policy