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2. Follow these instructions for the chart below.
Line A: Input the size of home you plan to build.
Multiply it by 0.08 (8¢) which is the lowest Wood Frame utility
cost per sq. ft. This gives you the average monthly utility costs
for a Wood Frame home that size.
Line B: Input the size of home you plan to build.
Multiply it by 0.04 (4¢) which is the highest ICF utility
cost per sq. ft. This gives you the average monthly utility costs
for a BuildBlock home that size.
Line C: The difference between Figure A and Figure B is
the amount of money you'll save every month in utility costs for as long
as you own your BuildBlock home!
Line D: Simply multiply that figure by 12 to see how much
you'll save each year.
| A. |
#Sq. Ft. __________ |
x 0.08 = |
__________ (Wood) |
| B. |
#Sq. Ft. __________ |
x 0.04 = |
__________ (ICFs) |
| C. |
Savings Per Month (A minus
B) |
__________
|
| D. |
Savings Per Year (C
times 12 months) |
__________ |
Here's an example chart, based on building a 2,500
sq. ft. home in the Oklahoma region:
| A. |
#Sq. Ft.
2,500 |
x 0.08 = |
$200 (Wood) |
| B. |
#Sq. Ft.
2,500 |
x 0.04 = |
$100
(ICFs) |
| C. |
Savings Per Month (A minus
B) |
$100 |
| D. |
Savings Per Year (C
times 12 months) |
$1,200 |
Your Savings Don't Stop
There!
Now that you've established your monthly and annual utility savings,
let's look at how you can use these savings to eliminate literally
thousands of dollars in interest on your home mortgage.
Using our example of building a 2,500 sq. ft. home, the additional cost
for using ICF instead of wood is approximately
$10,000.00.
Based on financing that additional $10,000 into a 30-year 8% mortgage,
your ICF house payment would be $73.37 more than if you built the
same house with wood.
Notice that your monthly utility savings (Line C above) is $100.
This more than makes up for the additional cost of your monthly
mortgage!
Apply your $1,200 annual utility savings to your mortgage. After
approximately 8-1/3 years, the $10,000 in additional construction cost is
"paid off" ($10,000 divided by $1,200 per year).
After that, if you continue to apply your monthly utility savings to
your house payment you will trim years and thousands of dollars
in interest off your mortgage!
Click here to see an
Amortization Chart
that explains how this works. |
