March 14, 2008
Special Mortgages for "Green Homes"
With the rising costs of heating, cooling, and home energy in general, it makes more sense than ever to build "green" or eco-friendly homes that are well-insulated, employ recycled materials, and rely on alternative energy sources. In some parts of the world, it's even possible to find companies that specialize in mortgages for green homes.
This is very helpful, since eco-friendly homes tend to cost more to build (expect to spend tens of thousands on elements such as solar panels), though you do tend to make back your money in the long run on lower costs for energy bills. So if you've been thinking of building a home from scratch and want to incorporate green elements, you may want to research lenders that offer these types of mortgages.
Unfortunately, the green mortage market isn't likely to grow much in the near future (according to a story on this UK-based Mortgage quote comparison site), due to the current troubles in the housing market, but there are a few companies out there still offering them (check that article for a couple links), so do your research if you're interested!
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