A Few Easy Ways to Get Your Home to Be More Efficient
Money is tight. Times have been tough lately. We’re all looking for ways to improve energy efficiency, especially around the home where just a few simple improvements can go a long way in terms of the money we save each month on bills. If you haven’t been back to your neighborhood bank, or spoken with your home loan counselor in a few years, it might be time to pay another visit to see what options await you.
As we move out of this most recent bubble bursting in the economy, banks are once again beginning to loosen their stranglehold on loans and financing, and if you’re looking to put some money into home improvements and green up things around the place this summer, then looking at how to get a cashout refinance might be your best bet. Here’s some solid reasons why refinancing your home and spending the money on energy efficiency improvements is a wise choice.
Easy Home Improvements You Can Make This Summer
Start with windows and doors. Did you know there was even such a thing as a high performance window? Chances
are that if you live in an older home, even one that’s twenty years old, the windows are likely single-paned and older, with aged caulking and plenty of gaps for air to pass through — with hot air leaving your home in winter, and cool air coming inside. Spending home refinancing money on brand new windows makes sense, as the costs will be somewhat offset with the smaller bills you’ll end up with for utilities every month. And because high performance windows for energy efficiency are not cheap, this might be your chance to make the leap.
Have you considered making the switch to solar power in the home? Again, the cost of solar water heaters and solar panels on the roof can be prohibitive for most homeowners, even with rebate and incentive programs from either the utility companies or local government. So taking the money from your home mortgage refinance is smart.
The cost of implementing solar in the home seems daunting to many, because of the upfront expenses that you will be quoted by solar power companies. This is all about the hardware, which is still expensive, though prices have been coming down in recent years. But if you trust the studies out there, then you’ll find plenty of data supporting the notion that your costs will be recouped within a couple of years, making this a great way to reinvest the money from your home, back into your home. It’s a giant win-win situation, and will also increase the value of your home, making it a more attractive property should you ever decide to put it on the market for sale down the road.
Last, think about replacing outdated and energy-vampire appliances like old refrigerators. Using Energy Star certified appliances, which are not cheap but well worth the cost, is an excellent way to green up the home with the money you’ll have at your disposal from a home refinance.[Photo Via: SouthGate Chamber]