Mortgage lenders try to look at the big picture, considering things like taxes and insurance when deciding how much they can loan out to homeowners and buyers. However, there's a major ongoing expense that appraisers currently don't take into account – monthly utility bills. You don't need to be an electrician to understand that the money you pay for power each month makes an impact on your budget and even affects the value of your home. A bill currently in front of Congress – the SAVE Act – would acknowledge that reality and let federal mortgage lenders make energy efficiency part of their formula.

Increasing the Value of Your Home

Essentially, the SAVE Act would make it easier to get financing for efficiency upgrades, even folding funding for it into traditional mortgages.

“This bill would require federal mortgage agencies to recognize the energy efficiency upgrades in a home during the mortgage underwriting process, thereby increasing the value of the home,” President of the Alliance to Save Energy Kateri Callahan said in a statement. 

The SAVE Act claims it would bring a number of benefits in addition to loosening the drawstrings on bank financing for efficiency. Among them:

A Diverse Group of Supporters

The SAVE Act was first introduced in 2013. Although Congress has yet to vote on the measure, it has lined up a diverse group of supporters who aren't typically on the same side of major issues, from the U.S. Chamber of Commerce and the National Association of Manufacturers to the Alliance to Save Energy, the National Resources Defense Council, the U.S. Green Building Council and others.

In the meantime, there are a number of steps you can take around your home today to cut down on your utility bills. If you need any help installing efficient appliances or upgrading your home electric system, contact an expert electrician today.

7.  Convert the extra closet into a sewing/hobby center.  Install a custom-cut countertop and a little task light… “Viola!” You are done.

8.  Or, maybe you are not done….Why not literally “Knock Her Socks Off” and build her a bigger closet?!

Whether you are building a new closet or updating an existing one, there are specific rules for lighting an enclosed closet space.  The National Fire Protection Association’s National Electrical Code (NEC) sets standards for safety:

Because closets contain flammable material with limited ventilation, strict building codes dictate that specified lighting fixtures must be installed 18” to 24” from walls depending upon which lamp source is being used.  Surface mounted and recessed fixtures must allow for 6”-12” of clearance from any storage space, such as shelving or clothing rods.

♦Of course,these standards are not a problem for Mariah Carey whose closet is as big as a bedroom!

One of the latest changes to the NEC code is the addition of LED (light-emitting diode) fixtures.  LED lighting may cost a bit more, but energy-savings, greater illumination and safety features will prove to be well worth the investment over time.  The quality and adaptability of newer LED lighting makes it an excellent choice for closets and dressing rooms.

9.  Don’t leave Mom in the dark!  Create a cozy corner with a new den floor lamp so she may relax and read, while you watch the ball game! Try a lamp with full-spectrum lighting to elevate her spirits.

10.  Reward yourself:  Clean out the garage and carve out a space for a workshop that is all your own!

People are investing more into floor covering, cabinetry and shelving to make the most of their garage space.    Fluorescent fixtures, track lighting and simple portable lamps are making their way into upgraded organized garage systems.