Financing Archives - The Green Cocoon

The Green Cocoon Offers Financing Through Hearth

Financing

The Green Cocoon (TGC) has partnered with Hearth, a San Francisco-based company offering various financing options that can save consumers thousands of dollars during their home renovations. TGC is working with Hearth to help you find financing options that best fit your needs.

Make smarter financial decisions

The new financing options help homeowners make smart financial decisions about their renovations. Also, they show homeowners how to craft an accurate budget for their remodels.

Helping you during this pandemic

“We learned about Hearth while researching financing companies,” said James Materkowski, owner and president of The Green Cocoon. “Offering financing allows a homeowner to pay for their project with predictable, monthly payments without tapping into the equity of their home.”

The new financial tool can check rates in under two minutes and loans are typically funded in one to five days. One exciting feature is the no prepayment penalty option. You can pay off the loan early with no additional fees!

If you’ve been considering upgrading the insulation in your home, download our flyer to learn more about this exciting new financing option. No matter what time of year it is, now is the time to act. Our schedule fills up quickly! Apply for financing today!

Invest in Insulation

Building Science, Energy Efficiency, Financing, Insulation, Save Money

One question we always get asked here at The Green Cocoon is, “What is the R.O.I. (return on investment) on insulation?” Consumers want to know if the upfront cost is worth it and more importantly, how long it takes to see the payback. Let’s break this down and find out!

Energy Costs Analyzed

Energy costs vary per state, and since we are located in Massachusetts, we will use that state. The average winter heating bill for oil (most popular) is about $2,343 per year (based on a 1,903 sq. ft. home)[i]. The average yearly electric bill is around $3,516[ii], and much higher in the summer months due to the use of air conditioners. That comes to a moderate total of $5,859 annually.

Some of our customers have seen reductions in their heating and cooling bills of up to 75 percent, but for the sake of this example, let’s just say that by insulating your home you save 40 percent. That is a savings of $2,331 per year! If the average insulation job for a medium-sized home is around $8,000 (give or take a few thousand depending on size and material), it would take just under five years to get the return on your investment. After that, you are pocketing an extra $2,331 per year. Think of all of the things you could do with that money! What does that money equal?

What You Can Do With Savings

Here’s what you can do with $2,331:

You can buy almost three months’ worth of groceries for a family of four. This is based on a Massachusetts’ family spending an average of $10,235 per year or $853 per month[iii].
You and your significant other could take a one-week cruise to the southern Caribbean from Boston.
Fill the gas tank in your car for almost one year (depending on car size and miles travelled).
Invest it every year and after 30 years you would have almost $140,000 (based on a 4% return)!

As you can see, insulation is well worth the investment. The question isn’t, “Can I afford it?” The question is, “How can you not?”

If you don’t have the money upfront for insulation, there’s no need to wait to start saving. Ask us about our interest-free financing options.

[i] Commonwealth of Massachusetts (2019). Household Heating Costs. Retrieved from mass.gov.

[ii] Electricity Local (2019). Residential Electricity Rates & Consumption in Massachusetts. Retrieved from electricitylocal.com.

[iii] 24/7 Wall St. (2022). Cost of Living in Massachusetts. Retrieved from 247wallst.com.