Homebuyers Are Going Green

Photo Credit: jenniferroberts.com

Photo Credit: jenniferroberts.com

Rising energy costs have consumers thinking about energy conservation and the green must-haves for their home.

The Energy Efficient Mortgage (EEM) is federally recognized and has benefits for both buyers and sellers. Buyers can stretch their dollar with the energy-saving measures in the home that will help save on utility bills. Sellers who use an EEM to make improvements on their home will make older homes more comfortable and more attractive to buyers looking to go green. Homeowners looking to remodel or refinance also gain benefits from EEM by making improvements that will help save on utility costs and potentially increasing the resale value of the home down the road.

According to the Energy Efficient Mortgage Home Owner Guide on the Housing and Urban Development Web site, buyers who qualify for a home loan may also qualify for the EEM. The guide also says that availability is not limited by location, home price or utility company. When applying for an EEM, a Home Energy Rating System report must be completed on the house. An energy appraisal is done by an inspector and the results are certified. More information about EEMs and case study examples are available at www.hud.gov.

Tax credits also are available for energy-saving home improvement products placed in a home in 2009 and 2010.  For specific details visit http://www.energystar.gov/index.cfm?c=tax_credits.tx_index.

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