A green mortgage is a type of home loan that helps people make environmentally conscious decisions. With this type of mortgage, you can agree to pay more for the home or put less money down as a trade-off for making your house more energy-efficient and eco-friendly. There are many reasons why it’s crucial to have an eco-friendly house, but they all boil down to one simple fact: you save money.
1) You’ll save money on utilities.
By improving your home’s energy efficiency, you can reduce how much you spend each month on electricity, water, and other utilities. On average, people who make their homes more eco-friendly will pay 25% less than people with a similar house that doesn’t meet green standards. In some places in America, homeowners save an average of $350 on their utility bills each year.
2) You’ll save money on repairs.
A green home is also a healthy home. By keeping your air clean and your water pure, you can avoid costly repairs down the road. Studies have shown that people in eco-friendly homes file fewer insurance claims and need less medical care.
3) You’ll reduce pollution.
The same factor that makes your house healthier also improves the health of those around you. The fewer pollutants there are in your home, the fewer chances people will suffer from respiratory problems and other ailments caused by exposure to harmful substances like soot, carbon dioxide (CO), or dioxins.
4) You’ll be helping the environment.
Making your home more environmentally friendly is one of the best things you can do for the planet. It reduces our reliance on fossil fuels, reduces greenhouse gas emissions, and helps preserve our natural resources. When everyone makes minor changes like this, it significantly impacts our world.
5) You’ll be in good company.
More and more people are looking to buy eco-friendly homes, and lenders are starting to offer green mortgages to cater to this growing market. If you’re interested in going green, it’s a great time to buy or refinance your home.
6) You’ll be eligible for tax credits.
The government offers money to people who purchase green homes or take out energy-efficient home loans in many places. In some parts of America, you could get a $20,000 credit just by going through with your plan to make your house more eco-friendly. This is one of the best ways to recover the additional money you’ll spend on your loan.
7) You’ll be helping the economy.
Making your home more eco-friendly is a great way to stimulate business and ensure that people in your area can stay employed by keeping companies running smoothly. This type of economic stimulation doesn’t just help those who work directly on restoring or improving homes, and it allows businesses across the board. If you want to help the economy, this is a great way to do it.
In this blog post, we’ve looked at some of the reasons why it’s wise to make your home environmentally friendly. These are all great benefits that can help you save hundreds or thousands of dollars each year and avoid costly repairs down the road. By going green with a mortgage, you’re investing in your home and the things that matter most.