Save On Your Bills: 6 Ways You Can Make Your Home More Energy-Efficient

 
 

Do you find yourself cringing every time your energy bill comes in the mail? You’re not alone.

Plenty of homeowners are looking for ways to save money on their utility bills each month. Fortunately, there are a number of simple home upgrades you can make that will help you save money and reduce waste. Here are five smart ways to make your home energy efficient and save on bills.

Upgrade to Energy-Efficient Appliances
The first and most significant step to make your home energy-efficient is to upgrade to energy-efficient appliances. Choose home appliances with ENERGY STAR rating as they consume less energy and help you reduce your electricity bills. Also, consider investing in advanced smart-home technology for better energy management.

If you're worried about the cost of upgrading to energy-efficient appliances, there are ways to save up for them. One option is to set a monthly budget specifically for saving towards these new appliances. You can also look into financing options or government rebates that may be available for purchasing energy-efficient appliances. Additionally, consider selling old or unused items in your home to generate extra funds for this investment.

Seal Windows and Doors
Sealing windows and doors is an easy yet effective way to make your home energy-efficient. When doors and windows aren't sealed correctly, they allow hot air to escape during winters and cool air during summers, causing the HVAC system to work harder, consuming more energy. Sealing these gaps can significantly reduce your energy bill.

If you notice drafts, condensation, or difficulty opening and closing your windows or doors, it may be time to replace them. These are signs that they are no longer functioning properly and are likely leaking air, which can lead to increased energy bills. You can also conduct a simple test by holding a candle near the edges of your windows and doors on a windy day. If the flame flickers, it's a sign of air leakage.

Replacing leaky windows and doors with energy-efficient ones will not only help you save on bills but also improve the overall comfort and insulation of your home. Be sure to find a reputable home window replacement company so you can get the job done right.

Install a Programmable Thermostat
An old and inefficient thermostat may add up more to your bill than you think. Consider upgrading your thermostat to a programmable one or a smart thermostat. These can be programmed to adjust the temperature and humidity levels depending on your schedule, resulting in less energy consumption and lower bills.

If you're not tech-savvy, finding the right programmable thermostat can seem like a daunting task. But don't worry, there are many user-friendly options available in the market. Look for thermostats with simple and easy-to-use interfaces and follow step-by-step installation instructions. It's also helpful to read reviews and seek recommendations from friends and family who have experience with programmable thermostats.

Replace Your Traditional Light Bulbs
Traditional bulbs may be inexpensive, but they consume more energy than LED or CFL bulbs. Switch to LED or CFL bulbs to save money while still getting the same bright light. Moreover, they have a longer lifespan than traditional bulbs, saving you money on replacements.

LED and CFL bulbs can be found in most home improvement stores, hardware stores, and even some grocery or department stores. Shopping online is also a convenient option with many retailers offering a wide selection of energy-efficient bulbs at competitive prices.

Additionally, you may want to consider checking for any rebates or discounts available for purchasing these types of bulbs. It's also important to properly dispose of your old light bulbs, as they contain hazardous materials that can harm the environment if not disposed of correctly.

Utilize Natural Light and Energy-Saving Curtains
Take advantage of natural light during the day by keeping your curtains open instead of relying on artificial lighting. This not only saves energy but also provides a more pleasant and natural lighting in your home. To minimize heat gain during summers, use energy-saving curtains or blinds that can block the sun's rays. This will reduce the workload on your cooling system, ultimately lowering your bills.

Insulate Your Home Properly
Lastly, proper insulation can significantly impact your home's energy efficiency. Insulation creates a barrier around your home, maintaining a stable internal temperature during changing weather conditions. Efficient insulation also results in fewer drafts, making your home more comfortable and reducing your energy bills.

To find weak spots in your home's insulation, start by checking the insulation levels in your attic and crawl space. You can use a ruler or tape measure to see if the thickness of the insulation meets recommended levels for your area. Next, check for any visible gaps or holes in walls and ceilings where air may be able to escape.

You can also hire a professional energy auditor to conduct a thorough inspection and identify any potential problem areas. By addressing these weak spots, you can improve your home's overall energy efficiency and save on bills.

By implementing any of these tips, you can make your home energy-efficient and save money. Upgrading to energy-efficient appliances, sealing your windows and doors, installing a programmable thermostat, replacing your traditional light bulbs, and insulating your home are all simple and cost-effective ways to reduce your monthly electricity bills. So, take your first step towards making your home more eco-friendly while also saving money.

Read more at Rismedia.com

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The Federal Reserve will cut interest rates 6 times in 2024... ING says

 
 

An economy that is showing clear signs of decelerating means the Federal Reserve will cut interest rates at least six times in 2024, according to a Thursday note from ING Economics.

Moderating inflation, a cooling jobs market, and a deteriorating outlook for consumer spending mean the Fed may need to cut interest rates more than the market expects.

"We have modest growth and cooling inflation and a cooling labour market — exactly what the Fed wants to see," ING's chief international economist, James Knightley, wrote. "This should confirm no need for any further Fed policy tightening, but the outlook is looking less and less favourable."

Knightley says he expects the Fed will start cutting interest rates in the second quarter of next year, delivering as many as six 25-basis-point rate cuts totaling 150 basis points. He also says he expects the interest-rate cuts to extend into 2025 with at least four 25-basis-point interest-rate cuts. Meanwhile, the futures market suggests the Fed will cut rates by 125 basis points next year.

Knightley's expected rate cuts would bring the effective Federal Funds rate to about 3.83% at the end of 2024 and to 2.83% at the end of 2025, compared with today's Fed Funds rate of 5.33%.

Those rate cuts should prove stimulative to the economy over time, but not immediately. Changes to the Fed Funds rate often come with a lag of between 12-18 months before they are felt.

The gradual interest-rate cuts forecast by Knightley are encouraging because they suggest that the economy will remain resilient and that the Fed won't be forced to cut interest rates to 0% immediately, as they tend to do when the economy significantly decelerates and enters a recession.

Knightley highlights that while the job market remains solid, evidenced by weekly jobless claims that remain in the low 200,000 range, it has noticeably cooled.

 
 

"Continuing claims surged though to 1,927k up from 1,841k. There have been questions over seasonal adjustment issues and data volatility, but the trend is certainly towards higher continuing claims while initial claims remain low. Essentially, the message is that firms are reluctant to fire workers, but they are less inclined to hire new workers. i.e. more evidence of a cooling, but not collapsing, labour market," Knightley wrote.

Meanwhile, consumer spending, while solid, faces a tougher road ahead in 2024 as real household disposable incomes show signs of weakness, credit-card delinquencies rise, and student-loan payments add further strain.

"The data suggests stagnant real household incomes over quite some time now. So far, this has been offset by the running down of savings and the use of debt to fuel spending growth," Knightley said. 

"However, tighter credit conditions and high borrowing costs are likely to weigh heavily on the flow of credit to the household sector while there is growing evidence of pandemic-era accrued excess savings being exhausted for an increasing number of people," Knightley said.

This all chalks up to an economy that's on thin ice but hasn't broken yet. And it might not break if the Fed can successfully lower interest rates before the economy enters a recession.

Otherwise, a broken economy probably means that the Fed won't be so patient with cutting interest rates. UBS expects the Fed to cut interest rates by a whopping 275 basis points next year in response to a recession.

Read more at BusinessInsider.com

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Transforming Dreams into Reality: A Yearlong Journey to Crafting the Perfect Mountain Retreat in Vail!

 
 

West + Main Agent Melanie Harbaugh

 
 
 

When West + Main agent Melanie Harbaugh's dear friends were searching for their second home in Vail, they had a few requirements.

“This home had to be close enough to the lifts to allow their children to come and go easily, have the space they wanted for entertaining, and have the mountain lodge aesthetic they dreamed of. After searching for many months for just the right fit, they decided that this one particular place in East Vail had all the potential if just given some attention, which reflects a thoughtful and strategic approach. So they rolled the dice, got under contract and closed on the last day of the year in 2022.”

 
 
 
 

“Over the next year, they gutted the townhome, and completely remodeled it from top to bottom. While some processes took longer than they hoped, they were able to spend their first Thanksgiving in their new place with their family in 2023. The remodel is incredibly impressive. The modern finishes, with the rustic accents provide a truly Modern Mountain cozy lodge abode. Their story encapsulates the essence of a well-thought-out journey in real estate. The blend of emotional connection and practical considerations is often key in turning a house into a home, especially when undertaking a significant renovation project.”

“My clients chose to forego the homes on the market, as they each missed the mark in different ways. Our strategic decision-making process, including running comparables and assessing the investment against the potential value, demonstrates a well-informed approach. This strategic decision-making, considering both the personal and financial aspects, adds another layer of wisdom to their approach. It's not just about finding a house; it's about creating a home that reflects their style and meets their needs.”

“I applaud their vision, their determination and execution. Their ability to see the potential in a property that others might have overlooked and their dedication to bringing their vision to life are commendable. Renovations can indeed be challenging, but the reward of creating a space that resonates with one's aspirations and lifestyle is immeasurable. This story serves as an excellent example of how vision, determination, and careful planning can turn a fixer-upper into a stunning mountain retreat. Their newly remodeled mountain retreat will be a source of joy and cherished moments for years to come, not only for them but for everyone fortunate enough to share in the warmth and beauty of their home."

 
 
 

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A List of New Year Renovation Resolutions

 
 

With the start of the new year, it’s never too late to reflect on new resolutions to give your home a much-needed upgrade.

Sometimes, the smallest changes can accomplish the biggest transformations. As you start to ponder where to begin with your home renovation, we have created a list of new year renovation resolutions for your living space. Take a look, and hopefully, you can take a few from our list and make your house more awesome.

Declutter, Repurpose and Recycle
By removing excess items, you can create a brighter, more spacious atmosphere that’s perfect for starting the new year. Instead of throwing away items you no longer need, consider repurposing them or donating them to someone who can use them. This not only reduces waste but can also save you money in the long run. Recycling household products is another great way to clear space and improve your environment.

Look Into Roof Maintenance or Replacement
Taking care of your roof is critical in maintaining the safety and protection of your home, especially after the harsh winter weather. By inspecting your roof for any damage, leaks, or cracks at the beginning of the year, you can catch any potential issues early on, saving you both time and money in the long run. Consider replacing old roofing with newer, sturdier and more energy-efficient options such as metal or asphalt shingles. Not only will this add value to your home, but it will also ensure that your household is adequately protected from any external elements. Don't hesitate to look into roof maintenance or replacement this year to keep your home in tip-top shape or to reach out to residential roofers if you think you need a professional on the project.

Add Plants to Your Home Decor
Looking to spruce up your living space? Why not add some greenery to your home decor? Plants are a great way to add a touch of nature to your home, and studies show that having plants around can even improve your mood and sense of well-being. Not only do they look appealing, but certain plants also have air-purifying qualities, making them a great addition to any room. If you're new to the world of plants, don't worry - there are plenty of easy-to-maintain options such as Succulents, Fiddle Leaf Figs, Pothos and Ivy. So why not consider adding some green to your space today and see how it transforms your home?

Install New Cabinets, Countertops and Appliances
Upgrading your kitchen cabinets, countertops and appliances can completely transform the heart of your home. If you're tired of looking at the same outdated design, consider investing in new, modern fixtures. Not only will it give your kitchen a fresh new look, but it will also improve the functionality of your space. Imagine cooking in a kitchen with top-of-the-line appliances and ample counter space. It's easy to see why making this update can make daily life easier and more enjoyable.

Add a Home Office or Entertainment Space
With remote work becoming a new norm, the need for a comfortable and functional home office space is undeniable. Working from the kitchen table or couch may not be a conducive environment, hence the need for a designated work area. Why not take it further and create an entertainment space? It's a great way to make your home feel more inviting, and you can utilize the space for casual hangouts with friends or family. Whether you choose a gaming room or mini bar, the possibilities are endless. It's time to spruce up your living space and make it more practical and enjoyable.

Upgrade Your Shower and Lighting
Transform your bathroom into a soothing retreat with a shower and lighting overhaul. Upgrade your shower system and give your bathroom a fresh look by adding new tiles, fixtures and shower heads. From rain shower heads to handhelds, the options are endless. To enhance your experience, install energy-efficient lighting that not only saves money but also creates an inviting atmosphere. With the right lighting, you won't dread getting ready in the morning or winding down before bed. Upgrade your shower and lighting to create a relaxing and rejuvenating spa-like heaven right in your home.

Update Your Exterior Siding
Whether you're looking to boost curb appeal or simply freshen up the look of your place, swapping out old, weathered siding for something shiny and new can make a world of difference. These days, vinyl siding is a top choice for many homeowners—not only is it cost-effective and easy to maintain, but it's also incredibly durable and can last for decades. So if the exterior of your home could use a bit of an update, companies such as Superior Products are ready to supply you with the materials you need to get started.

Home renovation resolutions can be a refreshing start to the new year. Taking the time to evaluate your living space and reflecting on how to make it more awesome can make a significant impact on your daily life. Whether you opt for decluttering and recycling or adding a home office, upgrading your kitchen, or adding plants to your decor, there are a plethora of options to make your home a happy and relaxing place to be. Start small, stay focused and enjoy the transformation of your home.

Read more at Rismedia.com

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Are the Top 3 Housing Market Questions on Your Mind?

 
 

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now.

You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in.

Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them.

1. What’s Next for Mortgage Rates?

Mortgage rates are higher than they’ve been in recent years. And, if you’re looking to buy a home, that impacts how much you can afford. That’s why so many buyers want to know what’s ahead for mortgage rates. The answer to that question is: no one can say for certain, but here’s what we know based on historical trends.

There’s a long-standing relationship between mortgage rates and inflation. Basically, when inflation is high, mortgage rates tend to follow suit. Over the past year, inflation was up, so mortgage rates were as well. But inflation is easing now. And this is why the Federal Reserve has recently paused their federal funds rate hikes, which means many experts believe mortgage rates will begin to come down.

And in some ways, we’ve started to see hints of slightly lower mortgage rates in recent weeks. But it’s certainly been volatile and will likely continue to be that way going into next year. Some ongoing variation is to be expected, but the anticipation is, that in 2024, we’ll see a downward trend. As Aziz Sunderji, Strategist at Home Economics, says:

“The bottom line is that interest rates are likely to be lower-perhaps even lower than many optimists think – in the weeks and months to come.”

2. Where Are Home Prices Headed?

While there’s been a lot of concern prices would come crashing down this year, data shows that didn’t happen. In fact, home prices are rising in most of the nation. Experts say that trend will continue, just at a slower pace that’s much more normal for the housing market – and that’s a good thing.

To help show just how confident experts are in this continued appreciation, take a look at the Home Price Expectation Survey from Pulsenomics. It’s a survey of a national panel of over 100 economists, real estate experts, and investment and market strategists. As the graph below shows, the consensus is, that prices will keep climbing next year, and in the years to come.

 
 

3. Is a Recession Around the Corner?

While recession talk has been a common thing over the past few years, there’s good news on that front.

The Wall Street Journal (WSJ) polls experts on this topic regularly. And last year at this time, most of them thought a recession would have happened by now. But as experts look at all the leading indicators today, they’re changing their minds and saying a recession is getting less and less likely. The latest results show that more experts now think we’re not headed for another recession (see chart below):

 
 

This is big news for the housing market. And while the 48% to 52% split may seem close to half and half, the key thing to focus on is that the majority of these experts think we’ve avoided a recession already.

Bottom Line

The big takeaway? The data shows there isn’t cause for concern – there are actually more signs of hope. Reach out to a local real estate agent to talk more about the housing market questions on your mind heading into the new year. 

Read more at KeepingCurrentMatters.com

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