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Home The News Knock $4,000 off your utility bill

Knock $4,000 off your utility bill

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By Josh Garskof, Money Magazine

Invest $1,500 in insulation and maintenance and get over twice that in energy savings the first year.

The attic floor is the house's most important barrier to heat loss because heat rises," says Charley Cormany, project manager at Renu, a home energy performance contractor in San Anselmo, Calif.

The thickness of the insulation between joists in the unfinished floor should be at least 10 to 12 inches. If it isn't, lay on additional rolls, or "batts." You should also insulate a pull-down door or hatch with an attic tent. Made of fabric-covered insulating material, it keeps out drafts but allows you access through a zippered flap ($200 from attictent.com).


Cover the ducts

Cost: $50 to $250
Payback: $500 to $1,500 a year
Inspect heating and cooling ducts in the attic, basement and closets. If you find exposed metal ducts, cover the seams with foil tape (such as Scotch Duct Sealing Foil Tape, $6 at acehardwaresuperstore.com) to plug any leaks.
Then cover the entire duct with insulation (such as Thermwell Self- Adhesive Foil/Foam Duct Insulation, $18 for 15 feet at homedepot.com) and you can save as much as 50% on heating and cooling costs

Use time settings for heat

Cost: $40
Payback: $500 a year
Install a programmable thermostat
You can set it to lower the heat automatically just after you've gone to bed and to warm up the house before the alarm clock rings so that you won't have to put on an overcoat when you wake up.
If you lower the thermostat by 7° from the normal daytime temperature, you'll knock 10% off your heating costs. Connecting the unit is a (warm) breeze; you merely unscrew the low-voltage wires and attach them to the new thermostat.

Seal those cracks

Cost: $15
Payback: $500 a year
If your attic or basement is unfinished, use a can of expanding foam insulation (such as Great Stuff Insulating Foam, $5 at deerso.com) to seal holes in the attic floorboards and basement ceilings.
That could reduce heating and cooling costs by about 10%. "Electricians and plumbers turn ceilings and floors into Swiss cheese when they run their pipes and wires," says Cormany.
You may also see gaps around the chimney or around recessed lighting. Ask at the home center for heat-resistant insulation for those spots

Wrap your water heater

Cost: $40
Payback: $100 a year
Drape a water-heater blanket - really nothing more than an overcoat - around your tank to keep heat from leaking away.
Also, wrap pipe insulation around the first five feet of both the hot-water outlet pipe and the cold-water pipe leading into the tank. You can find the stuff at any hardware or plumbing-supply store.
Taking these measures will knock as much as 15% off the unit's operating costs.

Call for service

Cost: $100 to $200 per unit a year
Payback: $300 to $500 a year
Cleaning your furnace's oil burners or removing scale from gas units, changing filters and checking refrigerant levels in the air-conditioning system are not exactly do-it-yourself jobs. You'll need some help from the professionals.
For every year that you fail to schedule service for your furnace (gas or oil), you'll wind up using 5% more heating fuel because of all the gunky buildup, and you'll pay 10% to 30% extra for neglecting your central air conditioning.

Last Updated on Friday, 05 December 2008 16:53  

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Newsflash

CHARLOTTE, N.C. - CRRA reports on the residential real estate market in this region. The number of closings for August 2008 was 2,469, which is a 34.5 percent decrease from August 2007. The average sales price for August 2008 was $230,472 which is a 4.5 percent decrease from the average sales price in August 2007. The average listing price for solds for August 2008 was $247,323, a decrease (1.5 percent) over August 2007’s average list price of $251,164, but a slight increase over July 2008.

Residential contracts reported in August 2008 (2,655) decreased 20.3 percent from August 2007 (3,331). New residential listings reported for August 2008 totaled 5,558. The average days-on-market for August 2008 was 136.1 days, which is an increase (5.4 days) over the previous month.

“The gradual downward trend in closings and contracts show that the Charlotte housing market is not immune to what has been happening in other housing markets across the country,“ said Dot Munson, president of CRRA and Carolina Multiple Listing Services, Inc. (CMLS). “However, we should be encouraged because the average sales price of homes has steadily increased since January 2008 and the average sales price is somewhat unchanged since last month. We are optimistic that based on the overall strength of the Charlotte market and the federal government’s recent takeover of secondary mortgage giants Fannie Mae and Freddie Mac, we will see interest rates continue to fall, which should spur activity in the region.”