As the price of energy continues to rise, homebuyers are becoming more conscious of the energy efficiency of their potential home. Today, more options exist to buy an energy efficient abode than ever before. The growing demand for energy efficiency has led homebuilders to accommodate these requests by building more R-2000 standard homes.
What is an R-2000 home? It is a home that meets the standards set by the federal government to promote energy efficient construction in residential housing. A home built under the R-2000 standard uses two-thirds less energy than a conventional home.
The R-2000 has become a very popular choice for many homebuyers. According to Natural Resources Canada, Ontario has more than 200 builders of the R-2000 home and will produce more than 50,000 homes by the end of the decade.
In addition to these efforts, the Canada Mortgage and Housing Corporation (CMHC) provide 10% rebates on mortgage insurance premiums for R-2000 homes.
“CMHC rebates provide a level of affordability to those who are looking to meet the demands of energy efficiency and viable budgets” says Scott Davis, a CIBC mortgage specialist.
Did You Know?
In an effort to help reduce our environmental footprint, CIBC is offering a mortgage that could meet the needs of your energy concerns. The CIBC Enviro-Saver mortgage is a product that offers customers the tools to address energy savings in the home. With the CIBC Enviro-Saver mortgage, customers can receive a certificate for up to $300 on a home energy audit and $2,500 in energy savings coupons.