Energy Efficient Home Improvements | How To Save

Performing energy efficient home improvements to your house is a wonderful way to add value, while saving you money each month. The effects are cumulative so the savings quickly add up, making these very attractive options. Should you be planning to refinance your mortgage, you should think about borrowing more than what you need to pay off your existing mortgage. What would you do with the extra money? An excellent use is to make some energy-efficiency home improvements to your house. By doing this you will experience two big benefits: 1 - The interest you pay on the mortgage is tax deductible, and this usually includes interest on home equity loans. Check with your tax accountant for more information about this benefit. 2 - Your monthly energy bills will immediately drop, especially during months of extreme temperatures (hot or cold). Again, these are not one time effects as you will reap the rewards each and every month. Should I Consider Energy Efficient Mortgages? The quick answer is yes, and here's why. If you are pondering buying a new home, or remodeling your existing one you can save money by using an Energy Efficient Mortgage (EEM). Believe it or not, as a homeowner your increasing utility costs should be factored into your budget. Check with your lender, but EEMs can applied to most mortgages. You would take the funds and perform certain improvements that would conserve energy, which is a positive for the environment as well as your wallet. The extra amount you pay on the mortgage would be recouped over time by the lower utilities, plus the extra interest you pay is most likely tax deductible. Another bonus is that alot of utility companies will offer incentives to you for having an energy efficient home. This may be in the form of lower rates or periodic credits, but it's best to check with your local branch on this before performing the necessary home improvements. So if you are pondering making an improvement to your house consider doing one that is energy-efficient. There's a good chance you will save money in more ways than one, and in most cases the cost will not be significantly higher than non efficient installations. Your home will have a higher resale value and you will have the piece of mind knowing that each month you are only spending what is absolutely necessary to heat or cool your dwelling.