|
Last Updated: Jul 2nd, 2008 - 21:15:22 |
(NC)-The cost of a home is an expensive proposition and when you factor in taxes, insurance and monthly maintenance, the financial weight may seem unbearable. Nevertheless, resale and new home purchases in Ontario are forecasted to reach record levels in 2008. One way to make home ownership more affordable is to reduce your ongoing expenses by focussing on areas with the greatest payback - with energy being a good place to start.
Install a programmable thermostat
Heating and cooling your home accounts for 40 percent of your energy bill, which means big opportunities to save money. A programmable thermostat raises and lowers the temperature in your home automatically at night or during times when you're not home. Lowering the temperature of your home by just a few degrees can make a very big difference in your heating bill. In fact, just a couple of degrees lower at night can mean up to ten percent savings.
Fix your rate
In addition to controlling the amount of energy you consume, you can also control the amount you pay per unit of consumption. With energy prices projected to rise over the long term, locking in a price today might be a good option. Energyshop.com offers independent information and comparisons of fixed natural gas and electricity rates. Natural gas supplier RiteRate.ca has consistently offered fixed rate contracts at much lower prices than larger competitors. At www.riterate.ca they also provide consumers with accurate and easy to understand information on how to choose the right natural gas contract option.
Get an energy audit
Hiring an expert to conduct a professional, room-by-room audit or energy use assessment can mean big savings over the long-term. Depending on their findings and the types of improvements you make, an energy advisor will pinpoint the issues that could reduce energy bills significantly. By using a certified energy advisor, Ontarians may even be eligible for a 50 percent rebate off the cost of the audit.
Know your energy tax credits
Did you know you are eligible for cash back on your home energy improvements? Governments and utilities offer many grants, rebates and other incentives for home retrofits. For example, installing new storm windows and insulation can not only keep your house warmer, a grant can help foot the bill for the upgrade.
Here are some of the renovation grants you may be eligible for. You can learn more at www.ecoaction.gc.ca/ecoenergy.
$30 - for each replacement window and door
Up to $500 - for installing an energy efficient natural gas furnace
Up to $600 - for roof and attic insulation
Up to $1,500 - for exterior wall insulation
Up to $1,000 - for basement insulation.
|
© Copyright by Eveningsnews.com
Top of Page
