Have You Gone Ygrene?

There’s no getting around it. It’s expensive to live in South Florida. Living here means we have to pay a premium on a lot of things, like keeping our homes cool from the intense sun and heat and protecting our properties from damaging hurricane winds. All of these necessities come at a cost, which can most commonly be seen in the form of energy bills and homeowners insurance premiums.


Fortunately, there is a solution that can help make an immediate impact that won’t necessitate massive changes to your monthly budget. In Miami, homeowners can make energy-efficient improvements to their homes through low-cost, long-term financing. Property Assessed Clean Energy (PACE)-eligible home improvement projects include everything from upgrading your HVAC system to installing impact windows and doors, high-efficiency lighting and appliances, solar systems, and more. A full list of eligible improvements can be found on Ygrene’s site.


What to know about PACE financing

  • Eligibility is assessed based on the homeowner’s equity, among other factors, but no minimum FICO score is required.
  • Financing is assessed through your property tax bill and is added as a new line item on your annual tax bill.
  • Given its unique nature, this type of loan is tied to your property, and, in some cases, the payment may be transferred to a new owner if you decide to sell (but be forewarned – this is an item that Realtors watch for. Don’t expect to make the renovations, add the increased value to the asking price, and then pass on the loan to a buyer).


As with any loan or home improvement project, it’s wise to do your homework and understand your options. Factoring in how long you plan to be in your home is also an important consideration. For Florida residents looking make energy-efficient improvements to their home, however, Ygrene can offer an immediate lift to those wanting to start saving money right away.


If you have questions about how home improvements can impact the resale potential of your home or other questions about the South Florida market, give me a call at 305-329-7744.