A Dollar a Month for Safety, Quiet and Comfort

A homebuyer pays 4% more for an energy efficient concrete home. He secures a mortgage with a 7.5% interest rate and makes a 20% down payment on the home. He would pay $44 more on principal and interest and $12 more on property taxes but saves $12 per month on homeowners insurance and $43 per month on energy bills. The total monthly cost for the concrete home is only $1 more than the standard home - a small price to pay for the added security, quiet, and comfort.

Standard Home

Concrete Home

Comments

Purchase Price

$200,000

$208,000

4% more

Principal and Int.

$1,119

$1,163

7.5% interest

Taxes

$300

$312

.15% tax rate

Insurance

$60

$48

20% savings

Energy

$145

$102

30% savings

Housing Costs

$1,624

$1,625

Only $1 more