A master bathroom overview that also features a picture window above the soaking tub.

How Green Mortgages Are A Good Way To Go

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Covered patio that looks out onto the spacious fenced-in backyard. This patio is complete with a ceiling fan and custom lighting.More and more time is spent in our homes as we are fighting COVID-19. There has been a big boost in telecommuting which has shifted the importance of home offices and exercise rooms. As homeowners spend more time at home, utilities are being used more than in the past.

According to Freddie Mac, March 2020 saw a 22% spike in electrical usage over March 2019. Midday consumption which is between 10 am – 3 pm rose 35%. This increase cost homeowners around $25 more for their monthly utility bills in April.

Homeowners are now placing importance on energy efficiency benefits. They are focusing on ways to reduce energy consumption which will reduce their monthly utility bills. Great ways to do this are by upgrading to energy-efficient appliances, heating, ventilation, or air conditioning (HVAC) units, windows and doors, as well as the addition of air sealing, insulation, solar panels, or geothermal heating.

A great way for homeowners to accomplish this is through green mortgages (also known as energy mortgages). These types of mortgages can be described as an environmentally friendly type of home loan. They are a special type of loan that is specifically created to save homeowners money while making a home more energy-efficient. These loans let you borrow money specifically to pay for energy-efficient upgrades to your home.

Builders and remodelers stay up to date with energy-efficient features through the National Association of Home Builders’ High-Performance Counts. Along with the NAHB, the National Association of Realtors created Home Performance Counts so that builders and remodelers can determine what energy-efficient features are most beneficial for their clients.

Remember using a green mortgage on your home will not only decrease monthly utility costs but will also increase your home’s market value. Stay up-to-date with tips on water efficiency, energy efficiency, indoor air quality, and other building science strategies through the National Association of Home Builders’ Sustainability and Green Building team.

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