A new home that is “Green” is not only great for the environment but can also save you money monthly.
For environmentally-conscious homeowners wanting to minimize their footprint and their energy bills, there are four areas upon which to focus.
In-Home Energy-Efficiency
According to the Environmental Protection Agency (EPA), as of December 2012, buildings account for 68 percent of the nation’s total energy consumption. Green homes can reduce this figure via energy-efficient appliances; well-sealed, double-glazed windows; and good insulation. Alternative energy sources such as solar panels can also reduce energy use.
Green Building Materials
Building materials are determined to be “green” based on manufacturing, shipping, and reclamation procedures, and are composed of renewable resources. Reclaimed materials such as wood from an old barn; or recovered newspapers for use in insulation are often considered to be green. Counter-tops made from recycled materials are often considered green, too. Ceramic tiles, because of how much energy is required to form them, are often not considered green unless reclaimed from a demolition project.
Green Mortgages
Referred to as Energy Efficient Mortgages (EEM) or Energy Improvement Mortgages for refinances, these mortgages have been around for decades.
A green mortgage allows a homeowner to make specific energy-saving improvements to the home they are building, purchasing or refinancing. The idea is simple, make improvements to the home that will drastically lower the homeowners energy costs and thus saving the new homeowner money every month. The cost of such improvements can be conveniently rolled into the new mortgage.
In addition to lowering your total monthly bills, you might be eligible to receive tax credits or incentives from federal, local governments and your local City Utilities such as here in Greene County Missouri.
Selling some day? The first time home buyer or any homebuyers on a tight budget will love the benefits of lower monthly utility bills and it will no doubt help the resale value of a property as a result of improving the energy efficiency of a home. If a home is not currently energy-efficient it can be made energy-efficient through the mortgage origination process.
Here is an example: When Jason and Heather financed the purchase of their new home through Team Semple at PrimeLending we structured the home loan to add more insulation to the walls and attic and also had new energy-efficient windows installed. This added $5,700 to their loan – raising it from $140,000 to a new loan amount of $145,700. Doing this of course raised their monthly mortgage by $24, however their utility bills should drop $40-$55 month depending on the heating and cooling season.
Home Location And Orientation
A home for which the main living areas are facing south will be warmed by the sun in winter, and will not be overheated by the sun in summer. This is considered “green”, as is proper window placement which allows for cross-breezes which can lower energy costs on warmer days.
When buying a green home in the Ozarks , be sure to ask questions of the seller including how the home was built, which materials were used in construction, and whether the home’s appliances are Energy Star-rated. It is very important that you choose a good local Realtor, such as Morgan Spillman, who will do the leg work to help you locate only those homes that meet the requirements that you are looking for.
