Go green to save money and boost resale value on homes

The housing market is extremely competitive, and many homeowners are waiting to put their houses on the market because foreclosed properties are clogging up the inventory and forcing down home prices.

In order to stay competitive and attract the best buyers, many homeowners are making home improvements and adjustments to their homes now, to enhance the resale value in the future when the market has recovered. Local governments are joining in on the green effort by offering monetary incentives to homeowners who reduce their home's energy consumption through minor alterations.

The City of Milwaukee has recently launched an initiative to help residents reduce their energy bills and improve their home's worth with the help of a $20 million grant from the federal stimulus package. The program has been implemented in Milwaukee, Madison and Racine thus far, and will use the grant money to alleviate many costs on improvements from the homeowners' shoulders.

According to the news source, homeowners can sign up for the program, pay for an energy audit to be completed on their home and then use their own money and grant funds to make the recommended improvements.

The Wall Street Journal recently reported that there are many ways to use less energy in the home, such as using blown fiberglass insulation, installing heat pump water heaters, adding concrete countertops and monitoring energy usage so electricity is turned off when not needed.

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