From finding the right home, qualifying for a ‘Green’ Renovation Mortgage, Energy Audit and Remodel Design we have almost worked our way through the one example of buying an older home to Renovate ‘Green’.
Which brings us to this one. Once we have our plans on paper as to what we are going to do with our older home once we buy it, what is it going to cost me per month once I own the house? First, we need to find out what the Energy and Master Bathroom Remodel is going to cost:
The 50% Reduction in Energy Usage included:
- New A/C Ducts in the Attic that are insulated and leak less than 5%
- 18 SEER variable speed HVAC system that is properly sized
- Spray on Radiant Barrier and Blown in R-30 Cellulose Insulation
Total Cost for the Energy Remodel is ~$25,787.90~
The Updated and Larger Master Bathroom just to name a few included:
- Energy Star Rated Ventilation Fan
- IceStone Countertops
- Low and Zero VOC Paints and Primers
- Pleated Media filter put in to HVAC for healthier air
- Locally Manufactured and/or Recycled Glass tile blocks for the shower
- Water Efficient Fixtures
- Sun Tunnel in the Shower for maximum lighting
Total Cost of the Master Bathroom Renovation is ~$36,192.36~
Total Cost of the two together is ~$61,980.26~ The entire Scope of Work is below for your to review and find out exactly is involved in both of these jobs.
Now we have to add all of this in with the Sale Price of the home. The list price of the home was $326,600 and simply as an example we used a Sales Price of ~$323,000~
In order to find out what our total monthly payment will be, we combine the two amounts for a Final Sales amount of ~$384,980~
So we take the $384,980 -
- 5% Down for a Loan Amount of $365,731
- 5 1/2% interest on a 30 yr FIXED loan
- Makes a Principal and Interest payment each month of $2076.58
- With Taxes and Insurance Escrowed your payment would be $3399.78
Wow! We did it! We found that Single Story home, the perfect size, great floorplan, Awesome location and now have it exactly the way you wanted AND within your price range! We ‘Greened’ it up a little- Reduced the Energy Usage by 50% so that you can benefit from lower Utility Bills! This all took the Approximate Down Payment of $19, 251 when you went to closing.
It is really that easy! We do not have to try and find the Pristine Green Home that you are looking for- We can find a home that is exactly what you want, minus the Green and it would likely be more within your budget anyhow! So, let’s keep an open mind and have some Fun with our imagination when we go look for that Green Home!
And now, as promised, here is the Full Scope of Work for all of the Renovation that was Cost out during this Series: