Everyone loves a win-win situation. Occasionally, you’ll come across a win-win-win situation. But it’s pretty rare to find yourself looking at a win-win-win-win situation.
Well, believe it or not, that’s what we’ve got on our hands here. Because making green upgrades to your home isn’t just good for the environment, it can save you money on energy bills, increase the value of your property, and make your home more resilient against extreme weather events like bushfires and cyclones.
Green upgrades with minimal investment
Don’t fall into the trap of thinking that making your home more sustainable must involve spending lots of time and money. Here are a couple of quick wins which won’t break the bank.
Maximise natural light
Having plenty of natural light flowing into your home not only boosts your serotonin levels, it can also reduce your energy bills by cutting your lighting and heating requirements. If your home doesn’t get a lot of natural light, consider choosing light-coloured walls, ceilings and floors to help light bounce around the room and make it appear brighter while keeping the room cooler.
Use fire-retardant paint
While we’re on the subject of changing your home’s interior colour scheme, fire-retardant paint is a wise option for those living in areas prone to bushfires. When exposed to heat, chemicals in the paint produce a thick layer of char which offers an insulating barrier and effectively deflects the heat from the fire away.
Switch to energy-efficient lightbulbs
If you’re still using traditional incandescent lamps (lightbulbs), you could be spending more on electricity than you need to. Energy-efficient lightbulbs such as Compact Fluorescent Lamps (CFL) or Light Emitting Diodes (LED) use less electricity to produce the same amount of light – potentially saving you hundreds of dollars a year.
Buy second-hand furniture
Choosing pre-loved furniture over brand-new items is beneficial in a number of ways. It saves money, reduces waste (including packaging waste that comes from storing and shipping large items), saves perfectly good items from landfill, and it’s also a great way to add character to your home that you can only get from unique vintage finds.
More ambitious upgrades for bigger savings
By splashing a bit more cash, you can really up your sustainability game. Not only will bigger home improvements lead to bigger energy savings, they’ll almost certainly add to the value of your property too.
And don’t worry if you don’t have the funds upfront. Some purchases, specifically the first three options in this section, are eligible for a Great Southern Bank Unsecured Green Loan**, which boasts all the features of our standard personal loan but with an even lower interest rate.
Install solar panels
While installing solar panels can be a significant upfront cost, you’ll reap the rewards over the long term through lower power bills. If you’re thinking of funding this with a Great Southern Bank Unsecured Green Loan, you will need to use an accredited installer. But even if you aren’t, it’s a wise move as they’ll have the know-how to maximise sunlight hours and to check whether you’re eligible for any subsidies such as the Federal Government’s renewable power incentive.
Invest in a solar hot water or heat pump system^
Like solar panels (above), a solar hot water system or heat pump requires a sizeable initial investment, but one which will pay for itself in the long run via substantially reduced energy bills.
Use solar, wind or hydro battery packs^
The most efficient way to store energy derived from renewable sources is through battery-based renewable energy storage systems. The more battery storage for renewable energy available, the less need there is for costly traditional power.
Choose energy-efficient appliances^
Appliance manufacturers are responding to consumer demand for greener products by improving the energy efficiency of their appliances and displaying a star rating. Before you buy a new fridge, washing machine or stovetop, consider checking the energy rating and compare this with other manufacturers. If you’re not sure where to start, CHOICE product reviews assess the energy efficiency of most home appliances, including whether the model's energy consumption matches the manufacturer's claims.
Improve your insulation
If your home isn’t well insulated, you could be losing valuable warmth in winter and spending more than necessary on fans and aircon in summer. There are a number of sustainable insulation materials available such as sheep’s wool and cellulose that help restrict airflow and reduce the cost of heating and cooling throughout the year. It’s also a good idea to fix any gaps or cracks in your home (especially around doors and windows) that could be causing air leakage.
Install a rainwater tank
A rainwater tank provides an alternative water supply during drought or water restrictions. It can also lower your water bills significantly by reducing your reliance on mains water. These days, new homes must have a rainwater tank installed as part of the BASIX certification process in NSW. If you need to get one installed, there may be government rebates to help you with the upfront costs.
Energy-efficient windows
Ordinary windows can represent a major source of heat loss in winter and heat gain in summer. Nowadays, new framing and glazing technology means you can buy energy-efficient windows with improved energy performance. This can make your home more comfortable and reduce your power bills.
Fire-rated windows
Staying with windows for a moment, fire-rated ones offer a degree of protection against, you guessed it, fire, thanks to their ability to withstand heat in excess of 870°C. Given that standard window glass breaks at approximately 120°C, this is something people living in bushfire-prone areas should consider.
Sustainable flooring
Building or renovating? Before you pick your flooring, consider eco-friendly options such as bamboo, cork or recycled timber floorboards. Concrete and natural stone are also environmentally-friendly flooring options as they’re extremely durable materials that can be easily reused or recycled.
Want more ideas?
For even more ideas for sustainable home improvements, you might want to check out our insurance partner Allianz’s GreenSpecs tool.
Don’t forget insurance
The Australian Securities and Investments Commission (ASIC) has estimated that up to 80 per cent of homeowners are inadequately insured. If you end up spending money on upgrading your home, make sure you’re not one of them by checking you have the right level of cover .
Important Information
^ Rebates could be available for eligible energy-efficient appliances in your state. Visit http://www.energy.gov.au/rebates to check what rebates may be available.
**Subject to Great Southern Bank’s 'green eligibility criteria, which must be met as at loan approval date.
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence Number 238317. Conditions, fees and charges apply. This is general information and does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information, including the Terms and Conditions (T&Cs) booklet, before acting on it. The Financial Claims Scheme may apply to this product; refer to the T&Cs for more information.