Being green, sustainable, and environmentally conscious is becoming increasingly popular in recent years. By understanding what’s going wrong with the world and how we are impacting it, we can start to do things better. More and more home buyers are looking to buy eco-homes or turn their existing property into an eco-friendly building. But did you know this can save you money on your mortgage or remortgage?
How being green can lower your mortgage
If you opt for an eco-friendly home, you may find your mortgage lender will offer you better rates. Some mortgage lenders offer special Green Mortgages, but those that don’t may still offer discounts. This is because having a green home can save the owner money on things like utility bills. Overall, this means there is a lower risk for the lender as the owner is spending less money on bills each month. Simply put, energy-efficient home results in lower bills, fewer costs, and less risk for mortgage providers.
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You can compare different mortgage rates and benefits via an online mortgage comparison site like Trussle. From the deals offered, you may then find that lenders will offer additional perks if your home is, or will be an eco-friendly one. Additional guides are also offered for those hunting for the most appropriate mortgage for their needs, and tools like the mortgage calculator also streamline the process for buyers.
How being green can help your financial situation
As mentioned above, having an eco-friendly home can save you money. You will spend less on heating and cooling due to proper insulation and sustainable heating and cooling methods. Your electricity bills will be lower due to the harnessing of natural light sources. Your water bills can also be reduced due to increased water efficiency throughout the property. The savings can be as much as several thousand dollars a year, depending on what measures you take.
Sustainable energy options
Solar power is a must-have for those looking to live a more sustainable lifestyle. Placing solar panels on your roof can save you either all or part of your electricity bill. They can heat your water or power your internal heating and cooling systems. It really is up to you. If you live in a windy area, you might also consider having your own wind turbine to generate extra power for your home.
Other considerations include biomass systems, hydroelectric systems, and air-source heat pumps.
Other sustainable home options
In terms of making your home more efficient, you can consider putting a brick in each cistern, ensuring windows are properly insulated, using environmentally friendly insulation throughout, and eliminating drafts. You can also lower your thermostat, start a compost pile, unplug everything you aren’t using, and replace all your bulbs with environmentally friendly ones.
Buying a home can be expensive and daunting but if you go in with a green mindset, you can save yourself a lot of worries. Going green is not only good for you and the environment, but it’s also good for your bank balance. When you are buying a home, every saving counts and if you can save some money on your home financing, then why not?