Make Your Next Home a Smart Investment
Investing in real estate through homeownership is a fundamental pillar of the American Dream. Why shouldn’t it be? A home is an investment that gains in value over time but it is not just a bond on a balance sheet. A home is the place where you chase your dreams, build a family, and make memories over holiday meals. But is your home a smart investment?
Homeownership gives you shelter, a respite from today’s busy word, and a place to grow a family while acting as a savings account accruing equity year after year. Sounds like a smart investment to me. And according to recent Census Bureau data 65% of Americans agree. An overly simplistic take on real estate would say that land is a finite resource while population growth and resulting demand for housing will remain a constant, pushing prices higher each year.
At Renewablue, when we talk about making a smart investment we’re not only talking about buying a home in an area poised for strong appreciation for the foreseeable future. To us, making your home a smart investment means that it is also cost effective to operate, comfortable to live in, and has minimal environmental impact.
When looking at purchasing a home, buyers often overlook the total cost of home ownership by failing to account for the cost of operating the house. The traditional method of measuring the cost of a home is the purchase cost and the monthly costs. Those monthly costs are colloquially known as PITI (Principal Interest Taxes and Insurance) but this is a gross miscalculation as it fails to consider utility expenses which can dramatically impact your monthly budget.
So how do you make a smart investment? As with any investment the best decisions are made utilizing the best available data. In this case the easy solution is to include an energy audit into the home buying process. Whether used in conjunction with a home inspection or after closing day, this inexpensive tool is crucial to identifying how best to reduce your monthly ownership cost. An energy audit will determine where air is leaking from the home, examine the condition of insulation, and evaluate the efficiency of the mechanical systems. The insights provided in this process will give you a step-by-step plan for selecting projects to lower your utility bills and live more comfortably, while reducing your impact on the planet.
Turning the data collected in the energy audit into actionable solutions can be challenging but is well worth the time. This is where Renewablue has your back! A variety of rebates and incentives are available from utility companies, cities, counties, and states. These offer financial assistance for everything from insulation and new furnaces to smart home technology and solar energy systems. Navigating the requirements and processes of these financial tools can be confusing and frustrating. We work to stack all the pennies for our clients, creating the largest pool of money possible to tackle energy retrofit projects. Our consulting services ensure all work is done correctly and in accordance with the various rebate programs.
It is our goal at Renewablue to guide you through process of turning existing houses into green homes and ultimately assist you in creating the smartest investment possible.Colin Glover Energy Audit, Energy Efficiency, Homeownership, Real Estate, Renewable Energy