Purchasing a home is one of the most important financial decisions people can make. While there are so many options out there, with the influx of new builds and subdivisions, many families look to those areas as a great way to get a fresh start as a family.
As you already know, there are many costs associated with the initial purchase; even with a new home. While planning finances it’s easy to forget costs incurred once new home buyers move in. Costs associated after down payment, mortgages and taxes are always calculated in the planning. The cost of energy and how much it costs to keep you comfortable in your home is sometimes lost in the shuffle. And, since comfort in your home also includes your financial comfort, keeping an energy efficient home is a great way to reduce monthly costs and make carrying your mortgage a little less stressful.
Besides helping you do your part environmentally, energy efficient furnaces, light fixtures and air conditioners are great long-term investments that can actually reduce the cost of ownership throughout the duration of your time in your home. With each percentage point you save after they’re installed, your overall costs will actually be less than if you went with standard appliances and fixtures.
Should your time within your home be shorter than expected, or you’re looking to use your new home as a way to build equity and potentially move elsewhere, you’ll also increase the value of your home once it enters the market with energy saving measures in place. Besides the value of the major appliances and fixtures and the savings that come with them, the reduction of wear and tear (drafts, moisture damage, etc.) can make your home more attractive to buyers should your stay in the “new home,” is shorter than previously anticipated.
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