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Financing an energy efficient home

Having energy saving homes is of course the ideal for everyone, although being able to afford the initial installation of things that make your home energy efficient can make the world of difference. If you are building a new home from scratch, getting advice on the most energy efficient forms of central heating and insulation are easier, because the foundations are not yet laid. Looking at Geothermic options are vital at this stage, because if you have sufficient land, although the installations can cost money, you will save a fortune in the long run, so getting all the options on the table before arranging finance, rather than thinking it out too late helps.

In a normal home environment you have options that you can take to make your house more energy efficient that don't cost the earth, and looking into these instead of the cosmetic improvements that don't help save energy means that you may just be able to make your house more energy efficient on your budget, or if not, have a good idea to approach your mortgage company with figures that they cannot dispute. There are also grants available for improvements that conserve energy and it is worthwhile checking with your City Hall if these are available in your area.

Remember when spending bulk money on your home to ask suppliers for discounts. They want your custom and are usually flexible with larger sales.

INSULATION

Check that the insulation of your home is up to standard. Find out what those standards are in your area and cost the job up. Insulation can be a very effective way of conserving energy. Look at all the options available because some are not as promising as they seem on the surface. Some insulation sweats rather than lets the house breathe. Modern types of insulation are designed to give warmth in the winter, and coolness in the winter. Keep a tally of prices so you can approach your mortgage company or bank armed with information.

ENERGY SAVING LIGHT BULBS

These require very little outlay and you certainly won't break the bank, but you can make your house more energy efficient by changing all existing light bulbs for energy saving ones.

HEATING SYSTEM

A heating system is expensive. Look at all options and weigh up which suits your home. These vary so much in energy efficiency. By knowing which is suitable for your home, you can have all the information ready to hand to a financial advisor when applying for a loan.

DOUBLE GLAZING

Are your windows letting out warm air ? Check to see what windows and doors are available to suit your home that would be more energy efficient. Again keep details of prices ready to show a financial adviser.

GETTING THE LOAN

With all the information at hand, and having done your homework, found out if grants are available and how grant systems work, you can approach your mortgage company with details of your salary, bank statements that back up that you are able to meet payments, and details of the improvements you want to make which will add value to the equity in your home.

Try several financial institutions since different interest rates can make the world of difference, and here look at the periods of repayment that suit your needs.

There is hope out there for everyone to improve their homes within a reasonable budget, if armed with all the relevant information. If taking grants, never start work until all the finer details are sorted and approved.

Good luck with your project.

Learn more about this author, Rachelle de Bretagne.
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