Most new homes already feature extensive energy efficiency amenities such as modern central air and weatherized windows. But if you are purchasing an older home - particularly one built before 1994 - you should strongly consider having it evaluated from an energy efficiency standpoint. Energy codes have come a long way in recent years, and your house may not have kept pace.
In 1993, the major existing international building code organizations joined forces to create the International Code Council (ICC). In the years since, new and stricter energy efficient building standards have been adopted for use in all newly built homes in the United States. If your house was built before the new ICC energy codes came into force, it likely lacks one or more significant energy upgrades available today - and you will pay for it with higher utility costs.
An Energy Efficient Mortgage offers the perfect solution for purchasers of older homes. The major drivers of home energy expenses - mechanical systems, water heaters and insulation - have all enjoyed significant efficiency and design improvements in the years since the 1993 ICC standards were adopted. Many of these upgrades qualify for financing under EEM loan programs:
With an Energy Efficient Mortgage managed by Federal Energy Services, you can make the energy upgrades you need before you move in - and pay for them directly from the utility cost savings they generate, resulting in no additional monthly cost to you.
If you plan to purchase an older home, you owe it to yourself to consider an Energy Efficient Mortgage program managed by Federal Energy Services. For more information, contact our offices today.