Heating needs in the residential sector is an important part of the total energy demand of a community. The coverage of these needs often leads to high costs for the households' budget, which may be reduced through improvements in the building stock. A strategic shift towards energy saving is a prerequisite for ensuring sustainability in the operation of buildings. This paper comprises a study on the possibilities of energy saving interventions in the residential sector of the Paramythia town, Greece. The potential benefits, in energy and environmental terms, are estimated and feasibility assessments of the required investments are conducted.