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Sustainability and green building are no longer just passing trends. Just this year, 19% of homebuyers from the National Association of Realtors 2024 Home Buyers and Sellers Generational Trends cited that energy efficiency was a “very important” factor when buying their home.
Having an eco-friendly home has both a personal and global impact, helping to ease heating and cooling costs while reducing stress to busy power grids. Above all, environmentally friendly upgrades to your home can improve your property value and save you money.
ROI stands for return on investment. It’s a financial ratio used to evaluate the profitability of a financing venture. The home’s location, project type, and the real estate market are all factors that can affect the return on investment for a project.
Before getting started on any big projects, experts recommend completing an energy audit. Much like when you get your home inspected for problems, an audit can be performed to identify the out-of-date or inefficient features.
Your front door is the first impression of your home for visitors, so it’s important it operates and looks its best. Exterior doors can leak air and waste precious energy during poor weather. According to the United States Department of Energy, your front door can account for up to 20% of heat loss. Proper weather stripping and material use can prevent air leaks and improve the efficiency of your HVAC system.
Much like doors, your windows can take a toll on efficiency and protection from the elements. The Department of Energy cites that windows are responsible for 25 to 30% of residential heating and cooling energy use. Experts also say where your windows are matters just as much as their construction. For example, south facing windows with large trees around will increase the amount of direct sunlight you receive in winter and shade in the summer for certain regions.
Your ducts are what connect your HVAC system to the rest of your house, ensuring the air is pushed through to where you need it most. In a typical home, 20 to 30% of air that moves through the duct system can be lost due to leaks, holes, or poor connections, according to Energy Star. This raises your utility bills and can make it difficult for your home to maintain its temperature.
Your ducts work hand in hand with your home’s insulation, ensuring the air pumped through stays a consistent and comfortable temperature. Increasing your insulation and sealing your air ducts increases your home’s comfort, cuts heating and cooling costs, and can improve the air quality.
The National Association of Homebuilders found that 81% of buyers in 2021 wanted Energy Star rated appliances. If you have older appliances in your home, it may seem like an impossible feat to have all of them upgraded to be more efficient. However, replacing even just one or two can make a difference. All new appliances produced feature an EnergyGuide label, a handy guide that can assist in estimating the average amount of energy an appliance uses in comparison to similar models.
Solar panels help to power your home with clean energy by converting sunlight into other forms of energy, like electricity or water heating. They reduce your energy costs and your home’s reliance on the power grid. The National Renewable Energy Laboratory also found that for every dollar saved through solar panel usage, there was a $20 increase in the home’s value.
Bamboo is a favored alternative to hardwood flooring. Bamboo grows extremely quickly, only taking three to five years to mature whereas an oak tree can take up to fifteen years to mature. Bamboo also uses less soil and water than traditional hardwood trees, helping reduce production costs.
Whether you’re looking to purchase a new home that has eco-friendly features and efficiency or renovate your existing one to better suit your needs, we have the financing options for you! Ready to get started? Contact us today!
Homestead Funding offers exceptional customer service and a convenient mortgage process. Whatever your financing needs, our goal is to exceed your expectations.
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