Making your home more energy efficient

Making your home more energy efficient - Making your home more energy efficient will save you money every month on your energy bills. The less energy you use, the less you pay. In addition, you are helping the environment because less energy needs to be produced. There are many things you can do to save energy, some simple and inexpensive, some more complicated and expensive.

For a more energy efficient home, seal against air leaks. Properly size your heating and cooling equipment. Properly design and seal your duct system. Insulate, use energy efficient windows and energy efficient lighting.

Adding insulation to existing walls is a huge energy saver. It will help keep you house cooler in the summer and warmer in the winter. There are Do It Yourself kits on the market that allow the homeowner to insulate there existing walls quite easily. If you are not the DIY type there are many insulation companies that can do the job for you as well. Either way the end result will be a more energy efficient house that will save you money over time.

Any Energy Star efficient appliances you end up using in your home also nets you a percentage in tax credits. Roofing, siding, HVAC systems and insulation that are Energy Star efficient can obtain up to 10% of the cost as a tax credit.

Consider adding solar panels to your roof. In some areas there are government subsidies to help defray the cost. Although the cost may be high, you will offset the purchase price over time by reduced energy bills. Also, you will be helping to use a renewable energy source with no harmful emissions.

One of the easiest things you can do is to replace your standard light bulbs with longer lasting more enegry efficient power compact bulbs. This will help you save on average $70 per year.

It sounds simple, but make sure that when you leave the room you turn off the lights. If you are not going to be spending time in a particular room, then it makes no sense to leave the lights on, and running up your bills.

Check and replace the weather stripping on your windows and doors. This is a simple and inexpensive way to help reduce energy costs. It can help all year around for both heating and air conditioning

Upgrading all your appliances to today's more energy efficient models will save you on your electric bills. Examples of common appliances that can drain your pocket book are:

- Dishwasher
- Clothes Washer
- Dryer

Wood-burning fireplaces are notorious for increasing energy bills. Even with the flue closed, if the fireplace is not adequately sealed then your heating dollars are probably floating up and out of the chimney.

Purchasing and having energy efficient windows installed can help save money and make your home more energy efficient. There are a lot of different windows available on the market so make sure that you shop around for a good price, get quotes from multiple companies for not only the price of the windows but for the installation too, and do a little research on the quality and efficiency of the windows you are looking to buy. You will be surprised at how much the quotes from multiple companies for the same product will range.

Install a thermostat with a timer function. Set the thermostat to lower the temperature during the day when no one is home, and raising the temperature to a comfortable level 30 minutes before you get home is a sound way to save on energy costs.

Energy Efficient Mortgages - With the many environmental issues facing us today, lenders are now offering incentive based mortgages for individuals looking to install energy saving components to their homes. The mortgages are called Energy Efficient Mortgages.

Some communities, states and government agencies are also offering tax breaks for homes that are energy efficient and/or save on energy costs by certain percentages. Consult your Home Builder, Mortgage Broker, Realtor, or your communities government office to find out if there are any tax breaks available for energy efficient homes that you may qualify for. These tax breaks can even be in addition to the Energy Efficient Mortgages that some lenders are offering.

The FHA "Streamlined K" mortgage will allow you to finance uprgrades to a home being purchased in order to become more energy efficient.

The FHA Energy Efficient Mortgage covers upgrades for new and existing homes and is now available in all 50 states. Key features includes:

Loan limits may be exceeded
No re-qualifying
No additional down payment
No new appraisal
$4,000 or 5% of the property value (up to $8,000) may be financed

FHA’s energy efficient mortgage program - FHA’s energy efficient mortgage program provides mortgage insurance for a person to purchase or refinance a principal residence and incorporate the cost of energy efficient improvements into the mortgage.

Congress extended this pilot program nationally in 1995, which provides mortgage insurance for folks to buy or refi a principle residence and aggregate the cost of energy-efficient improvements into the mortgage.

Eligible properties are 1 - 4 unit existing and new construction, and typically, the borrower will have to make a 3% cash investment based on the property’s sales price or value.

Note: FHA only insures loans; FHA does not provide loans.

Talk to your broker to see if this program makes sense for you.

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