Welcome to My NEW Louisville KY Real Estate Video Blog! - Home Energy Conservation Tips

How Homes Make Money; Secrets to Earning Extra Income, While Living [Green] In Your Home

Have you ever turned down free money? If given the chance to earn without doing anything different that you’re already doing, would you grab the opportunity? What many homeowners do not realize is that just by virtue of living in their homes, they have the ability to earn extra cash in hand. The secret lies in making energy-conscious decisions. With simple (and ultimately very useful) changes you can enjoy the many benefits of tapping into your property as a source of wealth. In part two of our three-part series, here we’ve shared with you ways that property owners work to avail this hidden opportunity.

Energy-Efficient Living

There are any number of ways for people to incorporate energy-efficiency into their lives and their homes. Whether you opt for bathroom fixtures designed to use less water, install thermostats and regulators that will cut off power according to set levels or opt for solar powered heating and illumination – the choices are many.

A few examples include:

Programmable Thermostat

By installing a simple device that enables the thermostat to be set at a pre-determined level, you can not only enjoy out of pocket savings on your energy bill, but you will also enjoy tax savings and deductions. The installation of energy-saving mechanisms yield sizable tax benefits as well as other discount programs designed to encourage such behavior.

Tax-savvy home ownership has become more and more prevalent during the past several decades, particularly with the shift in homeowners’ demographics. Newer generations as a rule almost always seek ways to be super-efficient with home-installed systems.

Insulation, Windows and Sealants

According to the non-profit organization Alliance To Save Energy, there are out-of-pocket savings of up to 30% on the cost of installation when improving your home with energy conserving measures like proper insulation, higher quality and energy-efficient windows or certain sealants designed to block out the elements.

Solar Power

A tax credit is issued to homeowners who operate on solar energy, whether entirely or partially sustaining their homes using solar panels.

Hydro-Conservancy

Whether you install a solar-powered water heater or a biomass stove for the same purpose – an otherwise environmentally expensive amenity, can be met with a sizable tax advantage. Also, water heaters with a minimum EF (Energy Factor) of 2.0 also qualify for tax credits.
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In this day and age where our renewable resources are more and more limited and government and non-governmental agencies are actively trying to preserve whatever energy resources we have, there are even more incentives to live a green lifestyle. The added gain, depending on how you look at it, is that while living sustainably you can also enjoy monetary and incentivized benefits. Further, add to the current advantages of living in a sustainable environment at home, the fact that when it comes time to sell your home, the returns will once again be apparent. All it takes is the knowledge, the intent and a few good choices.