Where’s the Money Gonna’ Come From When You’re Going Green?
We’ve talked a lot lately about improvements that you can make to your home. From easy ways to reduce home energy costs, to discovering the reasons why switching to solar power makes sense, we’ve covered a lot of bases. But what about the financial aspect of all this green transformation? Not all of the effort is cheap, regardless of how much savings you stand to receive in the long term. With government rebates, incentive programs from utility companies, special loans available to veterans, and other things of this nature, the money is out there, you just have to know where to look for it.
Foregoing all of these methods, have you thought about simply refinancing your home, and then taking that money to make improvements, all or most of which would be to raise the energy efficiency profile of your home? With the availability of cashout refinancing to improve your home, why not?
Why Refinancing and Going Green Is a Smart Play
Go over the numbers with a real estate or financial professional, or sit down with your local banker to discuss the options in detail with someone who knows exactly what’s best. But if you know for a fact that you’ll be able to lock in a lower interest rate on a home refinance loan, then the benefits of doing a refinance to make improvements might be even greater than the positive impact you’ll make on the planet.
Saving money on your monthly home loan payment sound like a good incentive? Because the possibility is there. And once you’ve taken some of the money out of your house, you’ll be able to implement solar power, in the form of panels that can be installed on the roof. Consider purchasing a solar power water heater as well, for even greater energy efficiency.
Take a look around the kitchen next time you’re in that part of the home. Do your appliances look like they’d be more comfortable in the 1970s, when they were born? All kidding aside, improving the quality of your appliances, and switching to Energy Star efficient models of refrigerators, for example, can be a great way to spend the extra cash from a home refinance program.
To conduct even further measures around the home, do a simple Internet search for green energy calculators, and see what you find. There are a ton of resources online that will allow you to break down how to make your home more efficient, and save money in the process.[Photo Via: northshoreviews]