More signs that homeowners are going green
Posted on Friday, April 22, 2016 at 3:50:01 PM
Home improvement projects are beginning to reach pre-recession levels in certain areas of the country, as a more healthy economy translates to flexible consumer budgets. With the housing market becoming healthier across the board - including residential financing, real estate starts, existing home sales and the like - there is plenty of reason to embark on upgrades that will increase the value of the residence.
In addition to major reports regarding the sheer volume of homeowners expecting to embark on an improvement plan, other signs are beginning to show where the investments are going specifically. Perhaps not all that surprisingly, the most popular improvement plan appears to be related to energy efficiency and eco-friendliness, as homeowners become more economically and environmentally conscious with the passing of each year. Notably, energy efficient home improvement financing and incentives are also available.
Spray foam's indications
Plastics News recently reported that the Spray Polyurethane Foam Alliance estimated the market for spray foam to have breached $1 billion last year, which is the highest ever. Meanwhile, the group attributed this rise to the increased volume of improvement projects. SPF can be used to insulate homes, thus making them more energy efficient given the lack of drafts and seepage that would otherwise drain heating and cooling utilities.
According to the news provider, fiberglass still takes up the lion's share of the insulation market at 93 percent, but SPF has been widely seen as an up-and-comer in the space. The source noted that while SPF is currently being more commonly used for walls, the applications of the material are spreading, and some are citing its value within the ceilings of home. With energy efficiency being such a common goal of homeowners today, other industries that produce relevant products are likely to enjoy growth in the coming years.
Weighing the merits
Cellulose.org provides a calculator to help homeowners get an idea of how much money and energy they will save by insulating either their entire homes or various components therein. What's more, the government offers incentives for investing in more energy efficient utilities, heating and cooling systems, home upgrades and other options to environmentally conscious homeowners.
Additionally, individuals can always visit their local banks to discuss home improvement financing options and how the projects will impact the value of their houses following completion.