Eco-homes that pay their own mortgages Business News


Newhaven Harbor in East Sussex is not just any old town. It was once identified as part of the government’s Cities Fund – but has yet to receive funding. But there’s something new happening along North Lane, which is behind a 1960s telephone exchange and across from a parking lot. Thirteen eco-apartments are under construction and developer Humayun Khan says they will pay off their own mortgages.

“This is my essay,” the 71-year-old said in the front room of a completed exhibition apartment. He just finished showing how sliding windows won’t need to be cleaned – they’ll be doused with non-stick spray, which means seagull damage will slide in the rain. More importantly, it’s an estimated £ 120 per year unspent on window cleaning that can instead be spent on the mortgage.

In Khan’s system, Newhaven houses are designed to be deprived of all income and savings, allowing the mortgage to be paid off within 20 years. Rent the annex to the family, to tenants or for a seasonal rental; sell additional energy produced by solar panels, enhanced by mirrors; save money on food by growing vegetables in the inner subdivision; reduce water bills thanks to the “gray water” system which recycles bath water into toilet water. “Invoices are a design flaw” is Khan’s slogan.

More about this article: Read More
This notice was published: 2021-05-07 20:30:00