Making Your Home More Energy Efficient

We enjoy a lovely climate here in Northwest Arkansas and Southwest Missouri. Our summers are sunny but not too hot, and our winters are mild but not too cold. But don’t let our relatively forgiving cold season fool you—at night the temperatures regularly dip below freezing, and many of us have experienced at least one sub-zero temperature in our lifetimes. While temperatures like these are rare, it is worth upgrading your home to save money and protect it from the winter elements.

With fall already upon us and winter not too far off, it’s the perfect time to pull the trigger on that remodeling or home renovation project you’ve been putting off. This may be a matter of making small updates to your home, or it could be a major renovation. Perhaps you aren’t making changes to your house but are winterizing your home like you do every year. In any case, you’ll want to consider ways to make your home more energy efficient. An energy efficient home can provide the same heat, water, and electricity using fewer resources. That means you’re paying less money for the same thing.

The process of upgrading your home into a more energy efficient space might seem daunting, so it’s good to know why you’re doing it. An energy efficient home provides the following benefits:

You’ll save money in the long run. While there’s an initial investment to a home upgrade, month after month your bills will be lower. This means you will ultimately be coming out ahead. These upgrade can save you up to 30% on energy bills. If you’re interested in crunching the numbers, the Department of Energy has tools and calculators to help you.

Energy efficient homes use less energy and lower your carbon footprint. Using less energy reduces greenhouse gas emissions and air pollution.

This investment will enhance your home’s market value. According to Freddie Mac, energy efficient homes sell for 2.7% more than their counterparts on average.

With greater temperature control and air quality, energy efficient homes provide greater comfort than traditional homes. If you’re investing in energy efficient appliances, you’ll find these to be quieter, as well.

There are different ways to upgrade your home. From energy-saving appliances to new heating systems to just keeping the cold air out, the right options for you are out there.

Appliances can be upgraded over time if you want to avoid a major initial investment. Refrigerators, washers, dryers, dishwashers, microwaves, and even home office staples such as computers, printers, and electronics, all come in energy efficient varieties. Look for the blue Energy Star label, which the Environmental Protection Agency gives to energy efficient appliances.

Insulating and sealing your home keeps warm air in a cool air out. You’ll want to insulate and weatherstrip your house, paying special attention to areas such as attics, doors and windows. You’ll also want to check your basement foundation for cracks that allow warm air to escape. There are DIY methods to locating and fixing air leaks, but it you are struggling to do so, professional services are available.

A great deal of heat escapes through doors and windows. Upgrading to energy efficient models will keep energy costs down.

Hot water heaters tend to last between 8 and 10 years. If you’ve had yours for a while, then chances are it is not working as efficiently as it could be. Consider replacing it was a new, energy efficient water heater. Again, lower monthly gas and electric bills equals savings in the long term. Upgrading to an Energy Star rated heat pump water heater can save even more—up to 70% of your current costs.

A new HVAC system will likely be more energy efficient than your current one. Check your HVAC’s SEER rating and compare it to newer models.

If you can afford a larger investment, solar panels will save you even more money. On top of this, Arkansas has lower installation costs than most states, and there are incentives for making the switch to solar power. Missouri also offers incentives for solar power and other upgrades.

Cool roofs are designed to reflect and not absorb sunlight. According to the Department of Energy, the average roof can reach 150F, while cool roofs stay around 50F at the same conditions. This helps lower air conditioning costs in the summer.

Install smart devices that automatically regulate energy usage. While many major appliances have smart features, smart thermostats and smart light bulbs will save you electricity and gas month to month. Smart energy strips can detect when connected devices are not in use, and block electricity from being consumed.

If you’re concerned about the upfront cost of these upgrades, you’ll be happy to know that there are different tax breaks, financial assistance, and finance options available to you.

Upgrading your home has many tax advantages. The IRS offers Energy Efficient Home Improvement Credits that allow you to deduct the cost of your upgrades. And since 2023, the Inflation Reduction Act offers two programs to incentivize upgrades: HOMES and HEEHRA. HOMES provides rebates for upgrades such as energy efficient appliances, insulation, and new windows. HEEHRA provides rebates for low- to middle-income families for making energy efficient upgrades. These rebates can total up to $14,000. Wondering how much these tax credits can save you? This rebate calculator can tell you.

Even with all these tax breaks and incentives, you will have upfront costs to make. Explore your home improvement financing options to make the smartest decision. If you own a home, a Home Equity Line of Credit is a popular and smart option for making home improvements. Leverage your home’s equity for a low interest rate.

If you’re planning to stay in your home long term, then mortgage refinancing is also a great option. There are closing costs associated with this, though, so use a mortgage refinancing calculator to help decide if this is a viable option.

If you are making smaller upgrades and don’t want to take out a larger loan, then you’ll want to use a credit card with low interest and rewards to cover the costs. CS Bank offers a variety of personal credit cards to fit your needs.

CS Home Mortgage is a full-service mortgage lender and can help get you finance all your home improvement needs. Whether it be through a Home Equity Line of Credit, refinancing your mortgage, or the right credit card for you, our lenders are happy to help. Contact us online or visit one of one convenient locations in Northwest Arkansas or Southwest Missouri today!