I am very excited about the upcoming Assisted Housing Stability and Energy and Green Retrofit Investments Stimulus program (phew, that's a mouthful), and I want to start by thanking Tiffany Humsfeld for pointing it out to me! But I can't horde this information for myself, because for those of you who own homes already, you may finally have an opportunity to get financial help to upgrade your home to make it more energy efficient.
This is exciting because up until now, there were primarily programs for home buyers to get access to funds for energy efficient upgrades (by the way - these are EEMs, or Energy Efficient Mortgages. Call or email me for more information). So for those of us who have been in our home for 30 days or 30 years, we didn't have access to similar programs to help us make energy efficient upgrades to our home.
At this point, details have not been released about the program, but I have requested to be informed from the program coordinators when they are available. I will be sure to share it here when I know more.
So, what can we expect from this program? I can only speculate, but forget dreams of installing solar power at home on the government! I suspect that the participating homeowner will be required to order an Energy Appraisal, which will identify some of the top retrofits that can be done which will lower their energy costs enough to essentially pay for the cost of the retrofits over their lifetime. Examples of this can include replacing a tank water heater with a tankless water heater, weatherstripping doors and windows, or installing insulation in various parts of the home.
So, the rule of "green" thumb (heh, heh... I just made that up) is that green retrofits and upgrades save you money. But that's not the only benefit to your pocketbook: statistics have shown that home buyers are willing to pay MORE for homes that have green upgrades.
If you would like more information on this program, you can click here to visit HUD's website.
Tiffany Wilson has lived in the South Bay of Los Angeles County for over 10 years. She and her family enjoy the safety and rich family features that the beach communities of the South Bay have to offer, including a close and neighborly community. Also, having experienced an out-of-country move to California over 10 years ago, she is perfectly positioned to assist out-of-state and foreign buyers in their search for real estate in the South Bay and the additional surrounding communities of Los Angeles and Orange County. She can be reached directly at email@example.com or 310-503-0557.