2022 New Hampshire State Home Show

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REMODELING NEW CONSTRUCTION

Dream Big

LANDSCAPING HOME MAINTENANCE

55th Annual New Hampshire State Home Show: Turning Plans into Reality

ENERGY HVAC SUPPLIERS REAL ESTATE FINANCE AND MORE!

PRESENTED BY

HomeBuilders A S S O C I A T I O N

SPONSORED BY

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SUNAPEE, NH 603.763.9070

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NASHUA, NH 603.880.7778

ASHLAND, NH 603.968.7626

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INSIDE HomeBuilders A S S O C I A T I O N

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Phone: (603) 228-0351 NHHBA.com • info@nhhba.com

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119 Airport Road • Concord, NH 03301

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HOURS: SATURDAY, MARCH 5, 10:00 AM – 6:00 PM SUNDAY, MARCH 6, 10:00 AM – 4:00 PM DOUBLETREE BY HILTON DOWNTOWN MANCHESTER

NHHBA OFFICERS PRESIDENT

Karen LaMontagne Kitchen VICE PRESIDENT

Matt Blanc TREASURER

Eddie Olson SECRETARY

John MacKinnon VICE PRESIDENT ASSOCIATE

Judy George NAHB STATE REPRESENTATIVE

Kurt Clason NATIONAL DIRECTOR

Joe Harnois ASSOCIATE NATIONAL DIRECTOR

Will Infantine

4 DREAM BIG

14 FINANCING

6 SUPPLY CHAIN ISSUES

16 CERTIFIED GREEN BUILDERS

55th Annual New Hampshire State Home Show: Turning Plans into Reality

Building Suppliers Say Patience Is Key for Material Availability

8 RENOVATION 2022

What You Need to Know About Financing and Refinancing in 2022

Planning Safe, Efficient Homes That Work as They Should

20 HOME IMPROVEMENT

5 Remodeling Projects Expected to Boom in 2022

What's Trending in Kitchen and Bath Design

10 INSURANCE AND LIABILITY

Umbrella Insurance Interest Increases as Liabilities Grow

PAST PRESIDENTS' COUNCIL

Sandy LaMontagne EXECUTIVE DIRECTOR

Matt Mayberry O PERATIO NS M A NAGE R , NH STATE H O M E S HOW M AN AG E R

Sharon Wayman CO M M UNICATIO NS M A NAG E R

Thank You to our sponsors

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Nancy Tichanuk New Hampshire State Home Show Official Guide is published by McLean Communications, Inc. and is distributed to NHHBA members. All rights reserved. Reproduction in whole or in part without the publisher’s written permission is prohibited. Statements and opinions expressed in this magazine do not necessarily reflect or represent those of this publication or its officers. While every effort has been made to ensure the accuracy of the information contained in this publication, McLean Communications, Inc. and NHHBA disclaim all responsibility for omissions and errors.

© 2022 McLean Communications, Inc.

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NEW HAMPSHIRE STATE HOME SHOW | 1

FROM THE NEW HAMPSHIRE HOME BUILDERS ASSOCIATION

DEAR HOME SHOW ATTENDEES,

W

elcome to the 55th annual New Hampshire State Home Show! Inside these walls you will find everything you need to create the project of your dreams. I challenge you to keep an open mind while roaming the aisles and to be inspired by the

products and services you see. You may even find something you didn’t know was possible.

Make sure to stop by Belletetes at booth No. 1301 to find what you need from doors to barns and everything in between. Also swing by Merrimack County Savings Bank in booth 1200 to chat about all of the great financing options available to help you create the project of your dreams!

Our industry still faces product shortages, shipping delays and lack of labor availability. This past year has been everything but business as usual. Now, more than ever, we have to be more organized and creative than we ever thought possible. Thankfully, these delays have not crippled the industry, and we are still able to get projects done. None of this would be possible without the understanding and flexibility of our consumers. For that, we are thankful. We hope that you will continue to have patience, and know that we are all working as hard as we can to complete your projects on time and on budget!

I am happy to announce that a new Carpentry Apprenticeship program has launched in New Hampshire. The New Hampshire Home Builders Association (NHHBA), in partnership with ABC NH/VT, iBuild and Apprenticeship NH, has launched an apprentice program that allows people of all ages to try their hand in the trades. This new program also makes the process easier for employers. NHHBA and ABC NH/VT will take over the majority of the backend requirements of this program so employers aren’t bogged down with any extra work. This is an important step in helping to alleviate some of the staffing shortages we all face. Please visit apprenticeshipnh.com/industries/construction-infrastructure/ for more information.

HomeBuilders A S S O C I A T I O N

NHHBA has been hard at work to save the NHSaves energy rebate program. Late in 2021, the Public Utilities Commission voted to suspend funds for NH residents to upgrade their homes with energy-saving services (new insulation, windows, etc.). As soon as this news broke, NHHBA went to work to figure out how to return this money to the residents of NH. After countless hours of effort, we are happy to report that House Bill 549 passed 343-0. As I write this in late January, we still have a few victories to pull off. But I’m confident we will get this funding returned to the people of NH! Please visit NHSaves.com to learn more about this great program and how it may benefit you.

There are many exciting things to look forward to this year and we would love for you to be involved with the NHHBA. Information on how to join — and any of our upcoming events — can be found at NHHBA.com. .

Karen LaMontagne Kitchen, President New Hampshire Home Builders Association

B E CO M E A M E M B E R O F N H H B A The New Hampshire Home Builders Association (NHHBA) was founded in 1952 and represents residential building, remodeling and development interests in New Hampshire. The association advocates for all housing-related issues, so that Granite State citizens can enjoy high-quality, energy-efficient and affordable home ownership.

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NHHBA members enjoy strong advocacy and professional development opportunities, making them the most professional and technically knowledgeable suppliers of building-related services to the buying public.

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THE NH STATE HOME SHOW

Dream Big 55th Annual New Hampshire State Home Show: Turning Plans into Reality

A

fter two years of quarantining and social distancing and being somewhat house-bound, homeowners have had ample time to dream up renovation, improvement and building projects.

The 55th annual New Hampshire State Home Show is where those dreams can become a reality.

This year's show, at the DoubleTree Hilton Manchester from March 5-6, brings together more than 200 vendors and exhibitors covering all aspects of the building and remodeling industry — mak-

4 | NEW HAMPSHIRE STATE HOME SHOW

ing it a must-do for anyone considering a project of any size.

“It's an important event because it's so comprehensive,” says Russ Collins, owner of Epping-based Home Innovations Corp.

“You've got everything from mainstream-type projects to people with very eclectic capabilities. There's a wide range of interests represented there. It's not narrowly targeted like some of the smaller shows are — it's a large show with a broad collection and a lot of capability from a lot of different people.”

Produced by the New Hampshire Home

Builders Association, the show provides an opportunity for homeowners to interact with builders, remodelers, decorators, landscapers and a diverse range of home solutions providers. One of the primary advantages of the show, Collins says, is the chance to benefit from the expertise of vendors who are working in the industry, and who are up to date on the newest building and remodeling technologies.

“There’s so many fresh ideas,” he says.

“There are new solutions as the technology grows, and it’s not all the same as it used to be. There are a lot of new

SPRING 2022

TOP TIPS approaches and new ideas out there.”

Integrating parts of the home so they work properly together is an important element when planning a project, he says, due to homes becoming more energy efficient and tighter. Homes are a series of interrelated systems, meaning air quality and insulation and moisture control are now more important to consider than ever.

“You need all these products to line up, but you also need the people to execute these jobs so the home continues to work as it should,” Collins says.

“It takes more planning now. It takes a higher level of intellectual engagement, and you want to work with people who understand this. You’re going to find those people at this home show.”

Meeting those vendors face to face also allows homeowners a chance to explore inspiration while getting a look at both how much their dream project may cost as well as when to expect a start date — which makes attendance at this year’s show particularly valuable.

“People can get a more realistic idea of the timeline on projects,” says Julie Blake, marketing manager at Norfolk Kitchen and Bath. “A lot of good contractors are busy, but in the coming months things should start to even off. You’ll get a better idea of a timeline, the availability of materials and learn how we can negotiate better pricing with our best partners.”

Eddie Olson, sales manager for Belletetes Inc., says for that reason alone, the Home Show is an “extremely important vehicle for homeowners.”

“Spending a few hours on the show floor replicates hours and hours of research you can do on your own,” Olson says. “Having unfettered access to industry professionals who can explain benefits, how long it might take to get something, explain when prices might come down, what new product will replace older products — that kind of access is paramount to making your project successful.

“You can design the best-looking cabinets in the world, but if it takes 22 NHHBA.com

weeks for them to come in, it won’t matter. Or if your project is no longer viable because of COVID-19 supply chain issues, you can learn how to best work around that. For us, it’s great to be able to talk directly to the consumer about their building, kitchen or flooring project. It’s really terrific.”

Blake, a Home Show veteran, says from the vendor’s perspective that it’s good to learn what people are planning, and then have the opportunity to talk to them about recommended steps that will get them that dream renovation.

So what’s the best way to approach a builder or vendor?

“The first thing you should look for is to see if the vendor is asking questions of you,” Collins says. “This is your project. If you ask questions of the vendor and they start talking about how great they are, they may not be the person you want. Are they there for you or for themselves?”

In the end, it’s about the quality of the people, Blake says.

“Really, it’s about the chance to meet a lot of local suppliers and local contractors that can do the work,” she says. “Supporting local people is important, and for someone to commit to participating in the Home Show really shows they’re a legitimate business, not someone who does a one-off project here and there and claims to be a specialist in their field. If someone commits to being here at the Show, they are professional and legitimate.”

Olson, who plans to have a full team of Belletetes designers, support staff and sales people at the New Hampshire State Home Show, says having a detailed plan of what you want and sharing that with experts can move your project along more quickly.

“We are going to be open and free with information,” he says. “And we want to give you the right information and coach you through whatever your project is. We’ll be your customer advocate to help you get to the end of your project.” 

PROS OFFER ADVICE ON GETTING THE MOST OUT OF YOUR SHOW EXPERIENCE

“Have an open mind and listen. Take your time. A lot of folks, I've noticed in the past, come in and blow through the place and miss quite a bit. I don't want to harp on the macroeconomic environment we're in now, but the supply and pricing issues should not be taken lightly. Take the time to listen. Oh, and wear comfortable shoes.”

Eddie Olson, Sales Manager, Belletetes Inc.

“Get lots of information and talk to people. Always interview a few people before doing projects, but just stop and talk to as many suppliers as you can that you may potentially use at some point.”

Julie Blake, Marketing Manager, Norfolk Kitchen and Bath

“Know how to integrate your projects with all the other elements in your home. Go for the holistic approach.

Whatever you're doing, make it work well with what you've got and what you want to do in the future.”

Russ Collins, Owner, Home Innovations Corp.

“The most important thing is, if you're going there to learn something, look to your left and look to your right. Most people look straight ahead and talk the whole way and miss the important things. They never really look at the booths at all.

You can learn a lot just by stopping at a booth and saying, 'OK, what do you do?'”

Bob Tortorice, Owner, Building Alternatives Inc.

“Engage and ask questions. Quite often, the people in these booths have a lot of expertise in a lot of different areas.”

Gordon Cormack, Owner, Cormack Construction Management NEW HAMPSHIRE STATE HOME SHOW | 5

SUPPLY CHAIN / Paul Briand

Building Suppliers Say Patience Is Key for Material Availability

P

atience and communication are two words of advice building suppliers offer to customers as they continue to navigate supply chain issues in 2022.

“The guidance I give my salespeople and my designers is that the first thing you want to make sure of is that the customer is patient,” says Eddie Olson, sales manager for Belletetes, based in Jaffrey with nine locations across New Hampshire and one in Massachusetts.

The demand for building materials and building services, such as design and construction, remains very, very

6 | NEW HAMPSHIRE STATE HOME SHOW

high, as it was through 2021, according to Olson.

“Say they’re coming into the store in the first week of January and they think they’re going to have their kitchen ordered and shipped by the end of February, they’re mistaken,” says Olson. “We put that information right out there really clearly: ‘Ma’am, sir, you have to be patient, you’ve got to understand the supply chain, you’ve got to understand the pace of business right now.’ ” Bob Jackman at LaValley Building Supply also anticipates the pace of con-

“As soon as the economy shut down, we had an availability problem.”

Bob Jackman LaValley Building Supply struction won’t slow in 2022, so it will be important to maintain a high level of communication with contractors.

LaValley’s purchasing group (responsible for getting commodity items such as lumber, roofing and plywood) gives

SPRING 2022

regular updates to the 11 home centers the company has in the state.

“We try to buy everything that we can direct,” says Jackman, who’s been with LaValley for some 44 years and heads up its staff development program. “We’re dealing with the manufacturer. The supply chain is shortened as much as we can make it.”

Weekly meetings between the purchasing group and the store managers then helps the individual stores better inform their contractor customers.

“It is all about communication,” says Jackman. “Any disruption in that line gets communicated immediately, and NHHBA.com

we hope to offer best value to all our builders.”

In mid-2021, the National Association of Home Builders (NAHB) reported the shortage of building materials was more widespread than at any time since the association started keeping track in the 1990s.

The hardest-to-get materials cited by the NAHB included oriented strand board (OSB — a type of particle board), plywood, framing lumber, copper wiring, trusses, gypsum wall board, vinyl siding, HVAC equipment, lightweight steel for framing, and roofing materials.

“I feel very confident saying that the supply chain issues are not going to unravel themselves right now,” says Olson.

The issues that contributed to supply chain breaks in 2021 still hold true going into 2022 — material shortages because of issues such as pandemic-related illness, floods and wildfires, labor shortages, transportation costs and trucking industry disruption.

“If you're on an assembly line and one person tests positive, they have to shut down the line. Some of these kitchen cabinet companies can make thousands and thousands of kitchen boxes a day. So if they shut down for a day to clean or something, that’s a significant setback,” says Olson.

Predictability, according to Jackman, is harder to come by.

“In normal times, before 2020, we had a very, very predictable lead time,” says Jackman.

The onset of the pandemic early in 2020 had a ripple effect on the supply chain that started immediately with the production slowdown as stay-at-home orders kept workers from their production lines.

“As soon as the economy shut down, we had an availability problem,” says Jackman.

But there wasn’t a slowdown in the home construction industry; in fact, it accelerated.

“We saw the demand go up, so now

“We're finding that this is not a single-source supply issue. It is multi-layered.”

Eddie Olson Sales Manager for Belletetes

you get a rising demand with a diminishing supply,” he says.

The pandemic had the curious effect of forcing people to assess how they were living their lives and where they were living their lives. That introspection prompted some people to look for new homes or make their current homes more accommodating, more liveable.

“We were in a housing crunch prior to 2020. We were really trying to build units,” says Olson. “Then it just got crazy with the pandemic. We're finding that this is not a single-source supply issue. It is multi-layered.”

As an example, Jackman points to trusses, the rigid assembly used in the construction of roofs. LaValley assembles its own trusses, but a longer-than-normal delivery time was not related to the lumber or the construction; it was related to the metal plates used to hold the assembly together.

There’s a related issue with windows, according to Jackman. Window assemblies are available, he says, “but you can't get the screens until summer because they don't have the material to make the screens.”

With patience and communication, Olson also advises that customers have flexibility in picking a particular style or model when it comes to items such as cabinetry, tiling or countertops.

“One of the trends we are seeing is that people, whether they're remodeling their existing home or buying their dream home, are being a lot more realistic and a lot more understanding when they're making a selection,” he says.  NEW HAMPSHIRE STATE HOME SHOW | 7

RENOVATIONS AND HOME IMPROVEMENT / Paul Briand

What’s Trending in Kitchen and Bath Design

H

omeowners looking at a makeover are asking themselves a basic question these days: How do I make my house more efficient, more accessible, more liveable?

The answer, according to the designers, suppliers and builders who carry out these projects, is to open up as much functional space as possible — in the kitchen and in the bathroom.

“COVID has made everybody rethink their spaces,” says Julie Blake, marketing manager for Norfolk Kitchen & Bath, with locations in Manchester, Nashua and Salem and three locations in Massachusetts. “They're making their spaces bigger and more beautiful.”

Dean Roscoe at G.M. Roth Design Remodeling in Nashua sees it too.

“Folks have pulled back to some degree. Instead of going on big expensive trips, they want to hang out with their friends or family,” says Roscoe, G.M. Roth’s director of sales and marketing. “In a lot of cases, they're trying to figure out how they can do fun things at home and invite friends and family to come stay with them.”

“We’re seeing really fun projects, much bigger projects,” adds Roscoe. “Folks are coming to us for a lot of additions that include making the kitchen bigger, making the flow of the first floor more effective — it’s more open, you can move from one room to the other easily.”

Homeowners are looking at the bedrooms — adding or improving the ensuite of an adjoining bathroom, not only in the primary bedroom but the guest bedroom as well, according to Roscoe.

For those baths, it’s out with the tub and in with the shower — as large a shower as the space can handle.

8 | NEW HAMPSHIRE STATE HOME SHOW

“People are getting rid of their tubs. They’re transitioning to a more universal design,” says Blake. “They’re doing tile showers with glass doors, with no transition, no molding or anything.

Universal design is definitely more important to younger people where they might know that they're going to age in place. It’s a good, smart investment.”

And those showers are likely to have more than one showerhead, according to Roscoe, a rainwater showerhead and a hand-held, which he notes makes the shower a lot easier to clean.

“That’s a very smart design choice to make people’s lives easier,” he says.

Double sinks in the primary bedroom bath are popular. There is even the trend — where there’s enough room, according to Roscoe — to have double vanities.

“You have vanities that aren't right next to each other, and it makes it easier if two people are getting ready at once to go to work or go out for the night, go to bed or whatever,” he says. “It makes it a little easier to operate if you're not right on top of each other.”

Function is the watchword as well in the kitchen.

“Nobody calls us up to build walls in a house that weren’t there,” says Roscoe. Any wall that exists between a kitchen and a dining area usually comes down, he adds, “because they want to turn it all into one big entertainment space.”

Countertops are a must but not necessarily to eat at, Roscoe notes. “It might just be a place for people to perch,” he says. “They can hang out and they can chat and be all together while the person preparing the meal is right there with them.”

SPRING 2022

All-white kitchens with aluminum appliances still trend, but that might begin to change, according to Blake, who sat in on a webinar with the National Kitchen Bath Association and got a sense of how important millennials are to the market.

“They’re saying that the millennial audience is going to start being a bigger portion of our customer size,” she says. “They’re going to want more wood-like tones — taking those white kitchens but bringing in natural, organic colors and finishes.”

Look for brushed, not shiny, finishes on appliances, faucets. Also be on the lookout for a greater use of black as a matte finish.

“It's not for everybody, it’s not for every kitchen, but they have become more of a thing,” says Roscoe.

While white still dominates the color scheme of most new kitchens, adding a dash of color that includes gray, and even blue, is starting to gain a foothold.

“White never goes out of style,” said Tedd LeBlanc, a designer at Crown Point Cabinetry, a custom cabinet maker in Claremont for 42 years.

“What we were seeing last year were the blues and the white — basically a combination where they have a base cabinetry with some kind of blue and the upper cabinetry is white,” he says. “'And I’ve actually seen a lot of people going with gray cabinets right now, a light gray.”

Roscoe sees blue, too.

“It might be something you might use as an accent piece,” he notes. “You might have a white kitchen, but you might say: 'Well, I want my island to pop.' So they might use blue in the island whereas the base and the uppers are all white. Blue is the thing now, and there's a light green that's a little bit popular.”

One trend Blake sees is the move outdoors — to also make that space more functional with grills that include burners, pizza ovens,

comfortable seating, elaborate pergolas.

“It really expands the living space,” says Blake. “People are spending more time at home. They're not going on vacation and they're investing in their homes instead.”

Above all with these renovations is managing the project timetable that, for a number of factors, has lengthened.

It’s taking a little longer to get the material in, according to LeBlanc, so a project schedule is worked out with the homeowner accordingly.

“If we're telling people we're going to get cabinetry there in three or four months, five months, six months, it's going to be there. We haven't had an issue of getting material, per se. It's just been taking a little longer to get,” says LeBlanc.

“With the uptick in new homebuilding and the residual existing home market being so swift, our kitchen bath business is extremely busy, and it's exacerbated by enormous supply chain issues,” says Eddie Olson, sales manager for Belletetes, based in Jaffrey with nine locations across New Hampshire and one in Massachusetts.

Someone set on a custom-built kitchen with very specific needs might experience what he described as “months and months and months and months of trying to get the stuff in,” whereas other options might take up to seven weeks. “Our lead times are anywhere from five weeks to 24 weeks now,” he says.

The backlog of work experienced by everyone in the trade is the biggest challenge Roscoe has seen in the nine years he’s been with G.M. Roth.

“We certainly have a bigger backlog right now than any time since I joined the company,” he says. “Lead times have definitely increased and I strongly encourage my designers to start educating folks as soon as they contact us about what they're really up against.” 

INSURANCE AND LIABILITY / Paul Briand

Umbrella Insurance Interest Increases as Liabilities Grow

U

mbrella insurance as a way to get another layer of liability coverage has been around for many years.

But it’s been in the last few that it has been receiving a high level of interest.

“It’s gotten a lot more popular,” says Chris Sharpe, president of Cross Insurance, based in Manchester with offices throughout the state. Cross, founded in 1952, is the largest privately held insurance broker in New England.

“It’s been very much more in vogue,” adds Sharpe, “to examine the liability limits that you have as a family.”

Umbrella insurance is a type of personal liability insurance that covers claims in excess of regular homeowners, auto or watercraft policy coverage. It covers not just the policyholder but also other members of their family or household.

If you already have insurance for your home and auto, the umbrella policy — as the name implies — is an additional layer of protection.

According to Sharpe, discussion of an umbrella policy should take place any time an insurance broker is discussing home and/or auto insurance with a customer.

“We work with homeowners to provide them with a risk analysis to make sure that their current program has the proper coverages and a competitive pricing model for what they're doing. One of the options that we focus on is umbrella coverage,” says Sharpe.

10 | NEW HAMPSHIRE STATE HOME SHOW

He notes that, as an organization, Cross Insurance “makes sure that umbrella coverage is a focal point for our conversations with our clients and prospects.”

Typical homeowners and automobile insurance has limits of coverage. These days, according to the experts at Cross, the claims on accidents and other incidents very often exceed those limits, thus the need for another layer.

Sandy Anaya, a personal lines producer at Cross, gives the example of a person, visiting a friend, who is then bitten by the family dog.

“The dog jumped up, bit her in the face and knocked her backwards. She required surgery for facial lacerations and back injuries. A jury awarded her $100,000 for the facial injuries, $750,000 for the back injury, and her husband $100,000 for loss of consortium,” recounts Anaya.

The total claim was just short of $1 million, yet, according to Anaya, the typical homeowners policy has a limit of $500,000. The umbrella policy would cover the amount in excess of the home

policy limit.

“It's very easy to exceed those underlying limits depending on the circumstances in your home,” says Sharpe.

These days, because of the lingering COVID-19 pandemic, home is a greater focus than it used to be. Home has become an office for remote workers, a classroom for remote learning, a workout studio, and an entertainment venue for family and friends. Homes have become more valuable. Health care has become more expensive.

Say you’re hosting the annual family Thanksgiving dinner, which includes a touch football game in the yard, and someone suffers a serious knee injury.

“They are now suing their family member to recover the cost of the medical services, the loss of the ability to keep making a living and, once again, that classic loss of consortium,” says Sharpe. “So those dollars could very quickly exceed $100,000 if you have a standard underlying homeowners insurance coverage, and certainly even if you had an enhanced SPRING 2022

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SAVE THE DATE

MARCH 4th & 5th, 2023

The 56th Annual NH State Home Show

DO BUSINESS WITH A NHHBA MEMBER

The NHHBA is a collection of 400 high-quality builders, remodelers contractors, and any other type o business you need for your home

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SEE YOU NEXT YEAR!

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http://business.nhhba.com/list one at $300,000 or even $500,000, you could see how that kind of an injury over time could exceed those underlying limits, and therefore an umbrella policy is there to pick up those opportunities.”

Even though it’s a family member, there’s no guarantee there won’t be a lawsuit.

“We're finding in today's litigious society, with the increase in valuations both in health care and in physical property, that those limitations may not be adequate to properly cover the liabilities that you might encounter,” says Sharpe.

Is there a teenage driver in the family?

“That liability is traveling all over the place,” says Sharpe.

“If your teenage children go pick up three of the neighbors, get into a car accident and drive to the neighbor's house, you've got both a bodily injury liability for the passengers of the vehicles and a property damage claim for the fence or the home that they drove into while they were reading their text messages.”

Those liabilities can include the obvious such as home and auto, but also the not-so-obvious — social media, for example. “if I say something negative about a company and it goes viral on the internet and they lose business because of my negative references, I can be sued for that,” says Anaya.

Generally, according to Sharpe, an umbrella coverage will be about $200 a year — a small investment that potentially covers a large amount of liability.

“It’s relatively cheap with a comparison to the amount of protection that is provides,” says Sharpe.  SPRING 2022

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FINANCING SPOTLIGHT / Paul Briand

What You Need to Know About Financing and Refinancing in 2022

E

ven though interest rates in 2022 are not expected to remain as historically low as they were in 2021, bankers expect they’ll remain busy with first-time mortgage and refinance applications.

And they have some advice on how to navigate the process, whether it’s applying for a mortgage as a first-time homeowner or looking to refinance an existing mortgage to get some cash to renovate.

“While rates may increase from the lows of 2021, mortgage rates continue to be at historic lows,” says Matthew Thomas, a mortgage lending specialist at Merrimack County Savings Bank, based in Concord. “About 20% of home purchases in 2021 were cash transactions. Demand for home ownership remains strong, although not as frantic as what we saw last summer.

Housing, including the rental market, is in short supply and that will likely help support home prices even if mortgage rates tick up. We expect home purchase activity will be stronger in 2022 than it was last year.”

Richard Sciaudone, vice president/mortgage sales manager 14 | NEW HAMPSHIRE STATE HOME SHOW

“While rates may increase from the lows of 2021, mortgage rates continue to be at historic lows.”

Matthew Thomas Mortgage Lending Specialist Merrimack County Savings Bank at St. Mary’s Bank, also expects a slight uptick in rates in 2022, and believes what he calls a “resetting of expectations” might be in order for some borrowers.

“We have a whole generation of homebuyers and homeowners out there who have never seen an interest rate above 3.5%,” says Sciaudone.

Analysts expect the Fed to raise short-term rates four times in 2022, with the first increase in March with other hikes likely

SPRING 2022

“I think to anybody buying a home — and not necessarily just for the first time — that pre-qualification is paramount.”

Karen Mayrand senior vice president and director of residential lending St. Mary’s Bank

to occur in June, September and December. This could nudge rates close to the 4% mark.

“I think a resetting of expectations needs to take place with rates because they've been so good for so long that customers can get a little nervous when they hit 4%,” adds Sciaudone.

The COVID-19 pandemic, because of its lockdowns and stay-at-home orders, forced a lot of people over the last couple of years to reassess their living situation. Some people decided to move/buy another house (requiring a mortgage), while others decided to make their existing homes more accommodating and liveable (probably requiring a refinance).

With that introspection expected to continue, the bankers offers some suggestions on new financing and refinancing.

Above all, they say to get prequalified.

“I think to anybody buying a home — and not necessarily just for the first time — that pre-qualification is paramount,” says Karen Mayrand, St. Mary’s Bank senior vice president and director of residential lending.

The process of a pre-qualification encompasses employment status, income and assets verification, and other elements taken into a loan consideration. It also gives borrowers an idea of just how much property they can afford, which is important in what continues to be a volatile residential real estate market.

“You need to know in advance because if you find the property you like, you have a nanosecond to get that purchase and sale written to become one of many offers that will probably be presented,” says Mayrand.

When consulting with a customer about a mortgage, one piece of advice from Thomas is to get that paperwork in order.

“Having income documents like pay stubs, W2s and tax returns at the ready along with a list of monthly debts will make the initial discussions go much smoother. Relying solely on memory may leave out critical information that ultimately creates disappointment at a later date,” says Thomas. “Additionally, be prepared to quickly provide copies of these things to your loan NHHBA.com

officer or their assistant so that verification of the income used can be completed. Applying for a preliminary approval is always a great way to remove concerns for qualification and sets up buyers to shop with more confidence.”

Additionally, according to Thomas, be open to suggestions from your mortgage professional.

“The advice from family or friends can be helpful, but every borrower has their own unique qualities. A mortgage product a friend used may or may not be the best for your situation. Mortgage Loan Officers are licensed professionals, who can guide you through the many financing choices each borrower faces.

And shop locally, Thomas notes. “National mortgage lenders may have flashy ads and paid celebrity endorsements, but local lenders can offer more options, like one-close construction loans, better customer service and faster responses to challenges that arise whether prior to or after the closing of your loan,” he says.

A local lender explores a customer’s goals and assesses every lending alternative, according to Mayrand, such as first-time homebuyer programs through the New Hampshire Housing Finance Authority.

“What are your primary have-tos? Then we do our best to fit that into a program and help the borrower meet their goals,” says Mayrand. “We work with every agency to have those first-time homebuyer programs available. It takes all of that to help borrowers today, because everybody's needs are different.”

Refinancing can be done for a number of different reasons.

For many people, refinancing has given them cash from their home’s equity to invest back into the house in the form of a renovation — a new addition, for example.

For other people, refinancing has given them the cash they need to draw down their consumer debt as they look to get into the real estate market as a potential buyer.

Still others look to a refinance to trim that 30-year mortgage note back to a 15-year term.

“The decision to refinance a mortgage or take out a home equity loan or line has unique complexities for each situation,” Thomas advises. “Some aspects to consider are the rates and amounts to be borrowed to determine which is the least costly option. Another consideration is how long you intend to stay in your home, and whether your monthly savings can offset the cost of the refinance.”

Different products serve different needs, according to Thomas.

“The best approach is to talk with a mortgage loan officer from a local bank that offers all of these products, and discuss your objectives. A mortgage loan officer can show you the options for a cash-out refinance, using a Home Equity Line of Credit, a Home Equity loan or products tailored to home renovations,” he says.

Founded in 1908, St. Mary’s Bank in 2021 had its highest volume of loans ever — just over $400 million. The expectation is for a busy 2022.

“Regardless of whether it's a purchase transaction or refinance transaction, it starts with, what are the borrower's goals? We will go through every scenario, qualify them for every scenario,” says Mayrand. 

GREEN BUILDER ADVANTAGE

Certified Green Builders: “The Sign of a Lifelong Learner” Planning safe, efficient homes that work as they should

E

nvironmentally friendly building processes address a number of important issues, but for many homeowners, it often comes down to one thing: Is my house operating as it should?

A certified green professional can ensure it is doing just that.

Sustainable and green building techniques incorporate construction and approaches, materials and designs that can minimize a home’s impact on the environment and help to conserve natural resources. It can also help save homeowners money in the long run.

“There’s an initial cost, but considering the long-term benefits, I think, is very important,” says Certified Green Professional and Cormack Construction Management Owner Gordon Cormack.

“There are long-term savings. It’s not an easy answer, because when you first start doing it (using eco-friendly processes), it can take longer, but it’s like anything — you get used to it, you cut out the wasted steps and it becomes clearer and cheaper. In the long term, you are saving money.”

Houses are built better, tighter and more insulated than ever — obviously, a good thing. However, this can also introduce new 16 | NEW HAMPSHIRE STATE HOME SHOW

“When a homeowner engages a CGP, they’re talking with someone who took the time to learn more about green building.”

Gordon Cormack, Owner Cormack Construction Management challenges that an eco-friendly approach can solve.

“The house has become a very complicated system,” Cormack says. “Think of the house as a system as opposed to carpentry.

If you don’t get the technology right, you could end up with a moisture problem or rot. It’s all much more complicated than it was even 5-10 years ago.”

SPRING 2022

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Approaching the home as an interrelated system is essential — and this is what a green builder does.

“The building is a system,” says Bob Tortorice, owner of Franconia-based Building Alternatives, Inc., and a certified green professional. “When you change one area without knowing the unintentional consequences, you’re going to create a problem in another area. It’s all about building science.”

Cormack and Tortorice are both certified green professionals — builders who have worked to integrate an advanced approach to their projects. The certified green professional designation recognizes builders, remodelers and other industry professionals who incorporate green and sustainable building principles into homes, without driving up the cost of construction. To earn that designation, candidates must complete a curriculum of courses that teach strategies for incorporating green principles into homes using cost-effective options.

“Even though I have a bachelor’s degree in what is basically construction technology, they never really taught us anything about energy efficiency,” Tortorice says. “The Home Builders Association offered courses on energy efficiency, and that’s really where I got my education.”

The coursework is closely aligned with the ICC 700 National Green Building Standard and ranges from energy, water and resource efficiency, to indoor environmental quality, lot and site development and homeowner education.

“For me, personally, I went towards the management route and improving my knowledge about the actual construction of a home and the building science of a home was important,” Tortorice says. “The Certified Green Professional courses were excellent in getting me on the road and learning how building science is the critical part in green building.

“If a builder is building something he calls green and he doesn’t know the science, that house is doomed to fail. You want to deal with someone with that certification and the education.”

According to the National Association of Home Builders, there are nearly 3,000 certified green professionals in the United States working in homebuilding and remodeling.

“What it means is when a homeowner engages a CGP, they’re talking with someone who took the time to learn more about green building,” Cormack says. “It’s easy to find someone who grew up in the business and learned to be a carpenter and did not push beyond and learn about the technology.

“It’s a sign of a lifelong learner, which I think is important and something I pride myself in.”

It’s an approach that requires buy-in from all stakeholders on a project — something that needs to be propagated throughout the job site and throughout a company, Cormack says.

“What we did was educate our crew,” he says. “You can specify and make drawings all day long, but if you don’t have a crew that understands the technology and how to make things tighter, it doesn’t happen.”

Cormack invited building green expert Peter Yost — a nationally known speaker and building science authority — to help train the crew.

“The building is a system. When you change one area without knowing the unintentional consequences, you’re going to create a problem in another area. It’s all about building science.”

Bob Tortorice, Owner Building Alternatives, Inc.

“We stood the entire crew down for a whole day,” Cormack says. “Have we benefited? Absolutely.”

Integrating green building processes into a project can also help homeowners avoid unintended consequences. It takes just 10 years for a house to rot if it’s not handling moisture properly. An energy audit — a scoring tool designed to gauge the efficiency of the home — can help consumers discover if their home is in need of improvements. Certified Green Professionals can conduct an energy audit, and the Public Utility Commission also has a program, NHSaves.com, that can provide assurance through its energy audit and weatherization plan. It’s a simple approach: The homeowner visits NHSaves.com, inputs a home’s square footage, the zip code and gas, oil or wood usage.

If the home proves to be energy inefficient, the utility company can have an auditor visit and suggest solutions. Once the home is efficient, the homeowner can earn energy-efficiency incentives and rebates up to $8,000.  RESOURCES Building Alternatives Inc. buildingalternatives.com Cormack Construction Management cormackconstructionmanagement.com NHSaves.com: Your Source for Energy Efficiency nhsaves.com Peter Yost building-wright.com

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RENOVATIONS AND HOME IMPROVEMENT

5 Remodeling Projects Expected to Boom in 2022

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s the pandemic continues, homeowners are spending more time indoors and thinking how to make their existing space more functional.

Here are five projects that loom large on many wish lists. Some are variations of existing trends, but each one adds function, value and joy to houses inside and out.

1. Better outfitted mudrooms Homeowners can avoid frantic searches for keys, backpacks, gloves, hats, lost socks and more by constructing a mudroom that’s dedicated to different needs. Functions in high demand are: • Drop-off areas for package and grocery-store deliveries, pet washing stations with an oversized sink or shower pan and storage • Specified storage for each family member • Laundry equipment area complemented with shelves, a counter for folding and a sink • A central charging station for everyone’s tech tools • Something fun, such as a boot dryer

2. More specialized outdoor “rooms” Creating the equivalent of rooms in a backyard started prepandemic, but after sheltering indoors, more homeowners are looking to build different spaces to suit favorite interests, including: • An outdoor kitchen with a grill, water source, and the newest bell and whistle: a pizza oven • A firepit or fireplace and lawn or terrace to set out a large screen and chairs to watch movies • An edible garden • Trellises to plant up and conserve land For those colder times of year, homeowners seek to purchase a heater, similar to what restaurants use to warm outdoor diners.

The 2021 Houzz & Home Study also found an uptick in fixing up flower beds, borders and lawns, and upgrading decks, porches or balconies.

20 | NEW HAMPSHIRE STATE HOME SHOW

3. More window, door and wall glazing to embrace nature The trend of homeowners wanting to feel as though they’re outdoors even when they can’t be is expected to continue, as nature is considered a boon to wellness.

In that respect, remodeling includes windows and doors and sometimes an entire wall to fit larger glass options. Some people like garage-style glass doors that roll up for an edgier look, designers say.

4. More flexible home offices Another pandemic lesson was the importance of having a place for adults to conduct office work and children to do homework.

In fact, searches for home offices were up 108%, according to a recent Houzz Emerging Home Design Trends Report. And even as many return to the workplace and school, the lingering effects of the pandemic are expected to make adaptable areas popular.

5. Accessory dwelling units Homeowners, in thinking about their own needs, are also looking after loved ones by adding an accessory dwelling unit (ADU) to their property.

Increased approval from planning and building departments has boosted ADU popularity, especially as a housing solution for homeowners needing space for aging parents, for returning grown children and for renters to help meet the shortage of affordable housing.

Homeowners, together with their contractor, should be sure to check local codes on size, setbacks and other requirements, and that the unit has good natural light, insulation, key appliances and features that reflect universal design principles so it’s accessible for all.  The story is excerpted from “5 Remodeling Projects Expected to Boom in 2022,” which originally appeared on ProRemodeler.com on January 27, 2022.

SPRING 2022

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