How Do You Present Sustainable Upgrades To Banks?

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Mortgage lenders tend not to be the most flexible institutions in the financial world. However, homeowners can use strategies to demonstrate to the bank the financial sturdiness of your plans to build or retrofit a sustainable home.

Firstly, make an effort to show the bank the potential savings associated with your building plan. You might even consider hiring a certified energy auditor or advisor to document the expected energy savings associated with the blueprint for your new home construction or sustainable retrofit. Your energy advisor will be able to identify certain rebates and incentives that are available to you. These rebates and incentives will further increase your expected monthly savings.

Secondly, consider utilizing a simple mortgage calculator to experiment with increased mortgage costs. You can then compare how these costs correspond to your expected savings through energy-efficient upgrades to your building plan. You may be able to convince your bank to offer a lower interest rate if you can demonstrate that the savings offset the higher monthly payments.

Show your bank how sustainable upgrades to your home will increase your home's value and help it maintain its premium price into the future. For example, a Berkeley Lab study demonstrated how solar panels add significant long-term value to a home.