Starting in January 2015, a new law takes effect that mandates all new homes 4,500-square-feet (whether all the square footage is finished or not) and larger are required to have residential fire sprinklers. All new homes will also be affected by other new energy code changes such as air exchangers and insulation changes. It is estimated that these changes could drive up prices of new homes by more than $10,000 when you factor in the sprinklers. If you are able to purchase a new home before these changes come, it will save you some money.
Minnesota homeowners and their families will benefit from this new law: residential fire sprinklers save lives and can minimize the damage caused by a house fire. In addition, most insurance companies offer a discount from 5 to 15% for homes with fire sprinklers.
What do Chanhassen, Apple Valley, and Savage have in common? These three Twin Cities towns made CNN Money’s best small towns in America list. Out of the top fifty small towns, Chanhassen placed fourth, Apple Valley seventeenth, and Savage twenty first. These top fifty towns have lots of parks, good schools, and great sense of community. Click here to see the entire list.
Minnesota’s economy is booming! The Bureau of Labor Statistics says that at 4.7% in May, the Twin Cities has the lowest unemployment rate in the nation for metro areas with one million or more people. A study by Cassidy Turley ranked the Twin Cities as the ninth best job growth market from 2012 to 2013. Between February 2012 and February 2013 the Twin Cities added some 41,000 jobs.
The U.S. Commerce Department said Minnesota tied California for fifth place in growth of gross domestic product in 2012, based on data for durable-goods manufacturing, construction, mining, agriculture, wholesale trade, and finance and insurance. The total value of Minnesota’s gross domestic product was $253 billion, which ranked 17th nationally.
Minnesota is ahead of much of the rest of the nation in economic growth and recovery! A strong economy can only help the housing market.
Want to find out more about some of the lakes and the communities around them in Minnesota and Western Wisconsin? Tune into WCCO starting tonight as they feature several different lakes over the next few days! Click here for details.