Guide to Home Energy Efficiency

Guide to Home Energy Efficiency

The decision to cut down on home energy usage is one that more and more people are making for a variety of compelling reasons. Reducing the energy footprint of a home saves money on heating and cooling costs, and helps to create a more sustainable future for everyone by slowing the depletion of Earth’s natural resources. There is a lot to learn when it comes to taking on a more energy efficient lifestyle and it’s important to understand what energy efficiency means and why it matters. All of the resources listed here are full of accurate and trustworthy information about saving energy at home.

Energy Efficient Home Buying

Today, many homes are designed and built with the principles of energy efficiency in mind and there are certain benefits available for homeowners who choose to purchase these greener homes. This includes some tax credits that have been enacted in recent years, and there are even mortgages designed specifically for people purchasing energy efficient homes.

Energy Efficient Mortgage Information – Here you will find good information about Energy Efficient Mortgages (EEMs), from exactly what they are to how you can qualify for one.

Financing Energy Efficient Homes – This straightforward information comes from Energy.gov for homebuyers purchasing energy efficient homes. Find out what makes a home qualify as being energy efficient and what provisions are available for energy efficient homeowners.

Buying an Energy Efficient Home – In cooperation with the U.S. Department of Agriculture and the EPA, the University of Georgia created this free guide. Print it out and take it with you when looking at houses with your realtor. It includes the right questions to ask, things to check, and even a section for you to take notes and document your findings.

Buying Your First Energy Efficient Home – This article, from Scientific American magazine, profiles first-timers in the energy efficient housing market. Their experience provides some excellent insights for others making their foray into the energy efficient home marketplace.

Energy Efficient Home Improvements

You don’t have to purchase a home that was built with energy saving design principles to get the benefits of energy efficiency. There are a lot of large and small home improvements and projects that you can do to create a more energy efficient home and save money on your utility bills. Use the following links to gather the necessary information and get started.

Energy Saving Home Projects – From Energy.gov, this page includes several tips for making your home as energy efficient as possible, from installing new insulation and windows to tips about home lighting, heating, and cooling.

Energy Efficient Appliance Guide – Using energy efficient appliances is one way to significantly cut down energy consumption in your home. This page, from the Federal Trade Commission’s website, outlines the ways in which energy efficient appliances are beneficial to homeowners and lists the things you should know before making any purchases.

Green Remodeling – The National Association of the Remodeling Industry (NARI) runs this site, which is full of resources for both consumers and contractors looking to make ecologically conscious home improvements.

Planning a Green Remodel – Look through this practical guide from This Old House before starting any energy efficient remodeling project on your home. There are plenty of sensible tips that can save you a lot of time, money, and frustration.

Everyday Tips for Being Energy Efficient

Conserving energy doesn’t always involve major renovations or time-consuming projects. There are a lot of small steps you can take toward creating a more energy efficient household. Use these resources to figure out how your home stacks up in terms of energy efficiency, and to find out what steps you can take to improve.

Energy Star Home Energy Yardstick – Use this interactive tool to find out how your household’s energy compares to that of others. This is the first step toward improving your level of efficiency.

How to Make Your Home Energy Efficient – Popular TLC series “How Stuff Works” has put together this great list of simple ideas that can make your home significantly more energy efficient right away.

Home Energy Use Tips – Another useful page from Energy.gov, these tips will get you started on creating a more energy efficient home. Also included is information to help you perform your own home energy assessment.

Tips for an Energy Efficient Home – This list from Greener Choices.org includes lots of little things you can do in your day-to-day life, and the facts about how each minor change can directly affect your energy bill.

Additional Helpful Resources

The following pages and sites are full of additional information for anyone interested in green building or energy efficiency in the home. Find out more about tax credits for energy efficient home owners, or download schematics and plans for DIY repairs and projects – all for free.

The Regreen Program – The Regreen Program is a nonprofit group comprised of designers, builders, and other industry experts. Through the site, you can access all kinds of useful information, including step-by-step instructions for home improvement projects – with pictures.

Energy Efficient Home Information by National Geographic – This collection of pages is full of excellent articles about everything related to energy efficient homes. From design principles and building materials to easy lifestyle changes anyone can make (like implementing graywater treatment systems in the home), this is a comprehensive resource for anyone interested energy efficient and sustainable living.

Energy Efficient Home Tax Credits – From Energy Star, this page is filled with helpful information about existing tax credits for homeowners who complete improvements that make their house more energy efficient.

Green Building Advisor – This site is an incredibly useful resource for anyone performing any kind of energy efficient home improvements or building projects. There are blueprints for add-ons like garages, guides to installing things such as skylights and insulation, and lots more.

Toronto Real Estate Market Statistics 2011 vs 2012

The latest report from Greater Toronto Area Realtors shows that average Toronto home prices are up in 2012 and total sales were almost identical from 2011 and 2012. There were a total of 88,157 total sales in the Greater Toronto Area in 2012 compared to 88,921 total sales in 2011. There were a total of 158,982 new listings brought onto the market in 2012, compared to 146,857 in 2011. The average sale price increased 7% from $462,158 in 2011 up to $494,823 in 2012. Even with stricter mortgage regulations and high land transfer fees, the Greater Toronto Area market continued to sizzle. Analysts are expecting smaller increases in 2013 and prices are expected to stabilize. The graphs below present market statistics including: total sales, new listings, average home prices and average days on market for real estate in the Greater Toronto Area in both 2011 and 2012.

Home Sales In The Greater Toronto Area 2011 vs 2012

New Listings In The Greater Toronto Area 2011 vs 2012

Average Home Prices In The Greater Toronto Area 2011 vs 2012

Average Days On Market In The Greater Toronto Area 2011 vs 2012

Home Prices Up Sharply In The GTA – 2012

In December 2012, there were 3,690 reported home sales in the Greater Toronto Area, which is down from December 2011 which had 4,585. The total amount of sales in the Greater Toronto area for the year of 2012 was at 85,731, which was a slight decrease from the total amount of home sales in the year 2011, which was at 89,096. In December 2012, the average home selling price in the GTA was 6.5% higher than the average home selling price in December 2011. In December 2011, the average home selling price in the GTA was at $449,566, while the average home selling price in the GTA in December 2012 was at $478,739. In the city of Toronto itself, the average home selling price went from $472,169 in December 2011, to $494,127 in December 2012, a significant increase over the 12 month period.

In December 2012, single, detached home sales saw an increase of 6.2% compared to single detached home sales in December 2011 in the GTA. Over the 12 month period, semi-detached home sales saw an increase of 4%, townhouse home sales saw an increase of 5.1% and condo and apartment sales saw a decrease of 0.9% in the Greater Toronto Area. New home listings in the Greater Toronto Area saw a slight decrease in December 2012 when compared with new home listings in December 2011. New listings in December 2011 were at 4,774, while new listings in December 2012 were at 2,295.

Overall, the year 2012 saw an excellent rise in home prices and real estate value. Throughout most of the months of the year, the real estate market continued to improve in the region and home selling prices in the Greater Toronto Area continued to rise. The rises in price also continued at a rate faster than inflation.

While home prices continued to rise in the year 2012, home sales in the GTA saw a significant decrease. The reason for this decrease is likely two-fold. First, new mortgage regulations make getting a mortgage and buying a home a longer process. With the new regulations, loan durations are relatively shorter than before. This can potentially increase monthly payments as the overall mortgage amount is not as spread out over time. Another reason is the Land Transfer Tax that was implemented in the Greater Toronto Area in early July of 2012. The Land Transfer Tax caused many potential home buyers to wait to buy a home in the Toronto area, or simply look elsewhere, which potentially decreased sales throughout the rest of the year.

The year 2012 saw a significant and consistent rise in average home selling prices as well as real estate market values overall throughout the year in the Greater Toronto Area. At the same time, home sales fell in the Greater Toronto Area in the year 2012 compared to the year 2011, likely due to increased regulations on mortgages and home buying in the area.

December 2012 vs. December 2011:

Toronto Home Sales:
- December 2012: 3,690
- December 2011: 4,585

New Listings In Toronto:
- December 2012: 4,295
- December 2011: 4,774

Toronto Average Sale Price:
- December 2012: $478,739
- December 2011: $449,566

Days On Market:
- December 2012: 36
- December 2011: 32

Home Sales Down, But Prices Up In November 2012

Home sales in the Greater Toronto Area in November 2012 were down by 16% compared to home sales in the GTA in November 2011, going from 6,908 in November 2011 to 5,973 in November 2012. A member of the Toronto real estate board said that some potential home buyers purchased their homes in the earlier part of 2012, which could have affected sales in the later part of 2012. In the city of Toronto itself, home sales in November 2012 were at 2,308, down from 2,952 in November 2011.

Home prices in November 2012 saw a rise of 1.6% in the GTA compared to home selling prices in November 2011. In the GTA in November 2011, the average home selling price was $477,582, while the average home selling price in the Greater Toronto area in November 2012 was $485,328. One of the factors that affected the lower rise in home prices was the different mix of types of homes that were sold in November 2012, compared to in November 2011.

The overall average home selling price increase percentage and prices were also affected significantly by the fact that less single, detached homes were sold for over $1,000,000 in November 2012, than in November 2011. This factor dropped the average home selling price significantly, which accounted for part of the lower increase amount of average home selling prices than usual over the 12 month period between November 2011 and November 2012.

In the Greater Toronto Area, the average selling price of single detached homes rose by only 0.1%, while the average selling price of townhouses rose by 1.4% and the average selling price of condos and apartments fell by 2.3% in the 12 month period. New home listings in the GTA saw an increase over the 12 month period. While new home listings in the GTA were at 9,707 in November 2011, they were at 9,838 in November 2012, representing a slight increase.

November 2012 vs. November 2011:

Toronto Home Sales:
- November 2012: 5,793
- November 2011: 6,908

New Listings In Toronto:
- November 2012: 9,838
- November 2011: 9,707

Toronto Average Sale Price:
- November 2012: $485,328
- November 2011: $477,582

Days On Market:
- November 2012: 30
- November 2011: 29

Average Home Prices Up, Sales Down In October 2012

In October 2012, home sales saw a decrease of 7.1 percent when compared to home sales in October 2011 in the GTA. Home sales in the GTA in October 2011 were 7,425, while in October 2012 home sales in the GTA were 6,896. However, avergage home prices increased by more than 6% to $503,479 in 2012, up from $474,241 in 2011. In the city of Toronto, home sales were at 3,044 in October 2011, and at 2,730 in October 2012.

The mortgage regulations that took place at the beginning of the month of July in 2012 called for shorter loan durations on mortgages. While these shorter loan durations on mortgages may have some benefits, they could increase a mortgage holders monthly payment. Many potential home buyers are waiting to make their home purchase in the GTA due to potentially higher monthly payments on mortgages.

Home prices in the GTA rose in October 2012 when compared to home selling prices in October 2011. The average home selling price in the GTA was $474,241 in October 2011, while the average home selling price in the GTA was $503,479. This increase of 6.2% in average home selling prices during the 12 month period is significant. In the city of Toronto itself, the average home selling price in October 2011 was $518,248, while it was $539,188 in October 2012, representing a significant increase over the 12 month period. Real estate experts have noted that the average home selling price increases in the GTA have continued to rise faster than the rate of inflation over the period between October 2011 and October 2012. However, the rate of increase of the average home selling price in the area is slowing down.

In October 2012, the average home selling price of a single, detached home in the GTA increased by 7% compared to in October 2011. The average home selling price of a condo or apartment remained flat in the 12 month period, while the average home selling price of a townhouse in the GTA increased 6%. One important factor to note when measuring home sales is that there were two more business days in October 2012 than in October 2011. This can affect the amount of home sales for the month for all types of homes in the city of Toronto itself and in the GTA. This can also have a slight effect on average home prices for the month.

New listings in October 2012 in the GTA were higher than in October 2011. New home listings in the GTA for October 2012 were at 13,054, while new listings in the GTA in October 2011 were at 12,306.

October 2012 vs. October 2011:

Toronto Home Sales:
- October 2012: 6,896
- October 2011: 7,425

New Listings In Toronto:
- October 2012: 13,054
- October 2011: 12,306

Toronto Average Sale Price:
- October 2012: $503,479
- October 2011: $474,241

Days On Market:
- October 2012: 28
- October 2011: 26

Strong Real Estate Price Growth In September 2012

In September 2012, the average home selling price in the Greater Toronto Area saw a very large jump from the average home selling price in the GTA for September 2011. An increase from $463,916 to $503,662 is a significant increase of almost 9% in home prices for the 12 month period. In the city of Toronto itself, home prices saw an even greater increase. The average home selling price in the city of Toronto was $495,721 in September 2011, and it jumped to $547,901 in September 2012.

According to real estate experts and real estate reports, the growth and continual increases in home selling prices in the GTA is expected to continue through 2013. This consistent growth is due to a number of important factors, including the improvement of the real estate market in the region overall.

Home sales in the GTA were down in September 2012 from September 2011. Home sales in the GTA in September 2011 were 7,422, in September 2012 home sales were at 5,879. The decrease in home sales is likely due to the Land Transfer Tax that has been implemented in the Toronto area. Like in previous months in 2012, this Land Transfers Tax in the Greater Toronto Area is causing many prospective home buyers to look elsewhere to buy their homes, searching in other areas because the Land Transfer Tax can significantly raise the costs of buying a home. Home sales in the city of Toronto itself were down in September 2012 compared to home sales in September 2011. In September 2011, the city of Toronto had 3,035 home sales, while in September 2012 the city of Toronto itself only had 2,255 home sales.

The average selling price of single, detached homes in the GTA saw an increase of 8% from September 2011 to September 2012. The average selling price of semi-detached homes had an increase of 12% in the 12 month period in the GTA, while the average selling price of townhouses in the GTA rose by 12% for 2012. One of the potential reasons for the significant price increases in September 2012 is the lack of potential homes to buy. The continual decrease in new home listings over the past several months means that less homes are on the market, potentially driving the prices of homes that are on the market up. New listings in the GTA in September 2012 rose for the first time compared to September 2011 in the last couple of months. New home listings in September 2012 were at 15,220, compared to 14,629 in the GTA in September 2011.

Tougher mortgage lending policies and regulations have likely also affected sales. The new mortgage regulations make it a bit tougher for people who are looking for a home in the GTA to get a mortgage, and they make the process of getting a mortgage longer. These mortgage regulations could affect home sales for the next couple months to come, making the amount of mortgages that are taken out to buy homes in the GTA less than in previous months, as well as in previous years.

September 2012 vs. September 2011:

Toronto Home Sales:
- September 2012: 5,879
- September 2011: 7,422

New Listings In Toronto:
- September 2012: 15,220
- September 2011: 14,629

Toronto Average Sale Price:
- September 2012: $503,662
- September 2011: $463,916

Days On Market:
- September 2012: 28
- September 2011: 27

Toronto Home Sales Down 12% In August 2012

In August 2012, home sales in the Greater Toronto Area, or the GTA, were down compared to August 2011. However, the amount of new home listings in the area was down as well. Home sales in the GTA saw a 12.5% decline in August 2012 compared to in August 2011, going from 7,330 to 6,418. Home sales in the city of Toronto itself also saw a decline, going from 2,839 to 2,282.

Despite the decline in home sales in the GTA for this 12 month period, home selling prices as well as home values in the area saw a significant increase. Home selling prices in the GTA in August 2011 had an average of $450,323, while in August 2012, the average home selling price in the area had risen to $479,095. This increase of around 6.5% in home selling prices over the 12 month period between August 2011 and August 2012 is due to a number of factors.

Sales of single, detached homes in the GTA fell by 10%, while sales of townhouses in the GTA rose by 1%, a slight increase from August 2011 to August 2012. Sales of semi-detached homes in the GTA fell by 13% during the 12 month period, with sales of condos and apartments falling by 22% between August 2011 and August 2012

The real estate market in the region is continuing to improve overall, leading to higher home prices in the GTA. The home prices of single, detached homes, rose significantly in the GTA over this 12 month period, accounting for a significant affect on the average home selling price in the entire region. The average home selling price of a single detached home in the GTA rose by around 15%, during the period between August 2011 and August 2012, a huge increase by most standards. Townhouses and condos in the area also saw a jump in the average of their sales price, with an average sales price about 11% higher for both in the city of Toronto itself, in August 2012 compared to in August 2011.

While sales may have been down in the month of August in 2012, the amount of sales and new listings seem to be moving together. This congruency between these two important statistics could help home selling prices to continue to rise, according to many real estate experts and those who watch the real estate market and the fluctuating prices.

August 2012 vs. August 2011:

Toronto Home Sales:
- August 2012: 6,418
- August 2011: 7,330

New Listings In Toronto:
- August 2012: 11,748
- August 2011: 12,430

Toronto Average Sale Price:
- August 2012: $479,095
- August 2011: $450,323

Days On Market:
- August 2012: 28
- August 2011: 27

GTA Home Prices Up In July 2012

In July of 2012, there was a rise of 4% in the average home selling price from July 2011, a significant increase of over 6%. In the Greater Toronto Area, the average home selling price was $458,646 in July 2011, while in July 2012 it was $476,947, a nice increase of $18,301 on average. In the city of Toronto itself, the average selling price of a home saw an even higher increase over the 12 month period between July 2011 and July 2012, as the average home selling price in the city went from $476,101 to $500,934 over the 12 month period, an increase of $24,833. In July 2012, the average selling price of a single, detached home jumped 6% from July 2011. The average selling price of a semi-detached home rose by 4% during the same time period, with the average selling price of a townhouse rising by the same amount during the 12 month period, 4%.

Sales of single, detached homes in the GTA dropped 2% in July 2012 from July 2011, a slight decrease. At the same time, sales of townhouses rose by 15% in the GTA compared to July 2011, a huge increase. Sales of townhouses in the area surround the city of Toronto itself, with a 905 area code, rose by 24%.

The early part of 2012 provided a powerful sales growth in overall home sales in the region, likely helping to increase home prices in the GTA. There were also many different types of homes sold during this period in the GTA, according to several real estate reporting agencies, which helped to further increase home selling prices as well as home values overall.

Home sales were down slightly in the GTA from July 2011. In July 2011, the GTA had 7,683 reported home sales, while in the area had 7,570 home sales. Home sales in the city of Toronto itself also saw a slight decrease, from 2,995 to 2,721. One of the potential reasons for the slight decrease in sales over the 12 month time period, between July 2011 and July 2012, is new lending guidelines that have been established in the area. The new mortgage lending guidelines, in combination with the GTA’s Land Transfer Tax, caused many potential buyers to wait to make a purchase.

The amount of new listings in the Greater Toronto area increased significantly in July 2012 compared to July 2011. In July 2012, there were 13,888 new home listings in the GTA, compared to 12,407 in July 2011.

July 2012 vs. July 2011:

Toronto Home Sales:
- July 2012: 7,570
- July 2011: 7,683

New Listings In Toronto:
- July 2012: 13,888
- July 2011: 12,407

Toronto Average Sale Price:
- July 2012: $476,947
- July 2011: $458,646

Days On Market:
- July 2012: 26
- July 2011: 26

Toronto Home Sales Increase By 7% In June 2012

In June 2012, the average selling prices of a home in the Toronto area have increased by 7.3%, up to an average of $508,622, compared to the average selling price of a home in the Toronto area in June 2011. In the Greater Toronto Area (GTA), the average selling price for a home was $474,223 in June 2011. In city of Toronto, home prices also saw a significant increase. The average selling price for a home in the city of Toronto in June 2011 was $511,591. In June 2012 it was $554,077, a spike of $42,486 over the 12 month period!

In the GTA, the average selling price of a single detached home saw a 7% rise during this 12 month period. Semi-detached homes in the GTA saw an increase of 5% in their average selling price, and townhouses in the GTA saw an increase of 6% in their average selling price. This increase of in the average selling price of a home by $34,399 over this 12 month period indicates a definitive rise in home values in the Greater Toronto Area over this time period.

Although the average selling price of homes in the Toronto area saw a significant jump, the number of home sales in the greater Toronto area for June 2012 was down by 5.4% from June 2011, the number of transactions in the actual city of Toronto saw the largest decline over the 12 month period between June 2011 and June 2012, a total decline of 13 percent. Despite these declines, the percentages in the remaining parts of the Toronto Real Estate Board were about the same as in June 2011.

The amount of new listings in the Greater Toronto Area increased significantly in June 2012. In June 2011, there were 14,755 new home listings. In June 2012, there were 16,679 new home listings, an increase of almost 2,000.

One of the reasons that home sales could have declined over the 12 month period between June 2011 and June 2012 is the Land Transfer Tax. The Land Transfer Tax is causing many people to search for homes that are outside of the Greater Toronto Area, as the tax significantly raises the overall costs of buying a home in Toronto and in the surrounding areas. The tax could explain how the value of homes in the GTA seems to be going up significantly, while sales of homes in the area have dropped.

June 2012 vs. June 2011:

Toronto Home Sales:
- June 2012: 9,422
- June 2011: 9,959

New Listings In Toronto:
- June 2012: 16,679
- June 2011: 14,755

Toronto Average Sale Price:
- June 2012: $508,622
- June 2011: $474,223

Days On Market:
- June 2012: 22
- June 2011: 24

Toronto Home Sales Increase By 11% In May 2012

The Toronto real estate market continues to surge as sales, new listings and average sale price have all increased year over year. The number of home sales in Toronto increased by 11.1% in May 2012 when compared to May 2011. There were a total of 10,850 home sales in May 2012 compared to on 9,766 in May 2011. Perhaps the most surprising statistic from the month of May, 2012 was the number of new listings. It appears as though home buyers are trying to take advantage of the hot market by listing their homes as new listings increased by more than 20% in May 2012 compared to May 2011.

Low interest rates and low demand continue to be a factor in the hot Toronto real estate market. However, due to the increasing number of new listings, we are starting to see a slight decline in sales prices. With more listings and increase inventory, there are fewer multiple offer scenarios and less competition between home buyers. Competition did seem to remain high among new buyers looking to purchase townhouses in the 416 area as the average price of townhouses in May 2012 increased more than 12% from May 2011.

Going forward, I think we can expect to see a continued increase in new listings and therefore less competition and less bidding wars from multiple buyers. Home prices are expecting to increase from 2011 to 2012, however, I expect that the pace will slow to somewhere around 5% – 7% on average year over year. Home buyers can finally breathe a sigh of relief as more inventory has led to less bidding wars, finally!

May 2012 vs. May 2011:

Toronto Home Sales:
- May 2012: 10,850
- May 2011: 9,766

New Listings In Toronto:
- May 2012: 19,177
- May 2011: 15,949

Toronto Average Sale Price:
- May 2012: $516,787
- May 2011: $485,362

Days On Market:
- May 2012: 21
- May 2011: 23