5 Energy Efficient Improvements You Can Make with FHA 203K Loans
Times are tight and homeowners nationwide are looking for ways to lower their monthly energy bills, make their homes more efficient and do their part in creating a cleaner & greener planet earth. In the past we have shown you how to finance your improvements with FHA 203K financing, now we want to expound on how to use FHA 203K loans to potentially save yourself hundreds of dollars or more on your annual energy bills.
1. EnergyStar Appliances.
Replacing your appliances is an easy and affordable way to save 20%+ of your monthly energy bill. EnergyStar appliances are widely available and comparably priced to their less efficient equivalents. There is NO reason not to have them in your house.
2. Insulate, Insulate, Insulate…
Effective insulation slows the rate that heat flows out of the house in winter or into the house in summer, so less energy is required to heat or cool the house. Choosing the RIGHT contractor for your renovation can help you make sure your house is properly insulated. If your house has no wall insulation, and it has more-or-less continuous wall cavities (such as conventional stud walls), blown-in insulation can greatly improve your comfort and save enough energy to be very cost-effective. If your attic is unfinished, you can often look to upgrade your insulation there as well.
3. Improve Your Water Efficiency.
I don’t want to delve too deep into wasting water since I have already done that on a previous post. So, in an effort to avoid redundancy and save myself some time I’ll just direct you there and you can read the multiple ways you can reduce your water consumption. Savings by the Gallon With FHA 203K…
4. Replace Those Drafty Windows.
If your windows are old and leaky, it may be time to replace them with energy-efficient models. Windows are not huge energy losers, accounting for no more than 20% of a homes typical loss, but if you are replacing windows for other reasons then energy efficient windows are a no-brainer. Typically, EnergyStar windows cost no more than $15 more per window than their less efficient cousins.
5. Dump the Older Furnace.
If your furnace was built before 1992 and has a standing pilot, it probably wastes 35 percent of the fuel it uses. We recommend early replacement with a “condensing furnace” with annual efficiency of at least 90 percent. This type of furnace wastes no more than 10 percent of the natural gas you buy, and may save you as much as 27 percent on your heating bill.
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Jonathan Blackwell
FHA 203K Renovation Specialist
Hometown Lenders
Atlanta, Georgia, 30317
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Work: 404-551-3845
Mobile: 404-519-5383
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