WWU Studies Energy Efficiency and Home Prices

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Real Estate Agent with eXp Realty

Interesting fact the average home in Washington State spends $1,056 on energy bills each year. Lots of that money flows out like heat through holes in the walls if homeowners are not thinking about energy efficiency. Energy efficiency upgrades cost money but deliver value in terms of comfort and years of lower energy bills.

So why aren’t more homeowners investing in energy efficiency?

One of the reasons may be that homeowners may not expect to live in their home long enough to recover the initial outlay. If they knew potential buyers were willing to pay more for an energy efficient home, they might be willing to make some of these upgrades.

The project looks at whether homes with lower energy bills sell for higher prices than comparable houses. They will measure the expected yearly energy bills for houses currently on the market, wait for those homes to sell, then use a technique called hedonic analysis to test whether energy efficiency impacts the market value of a house. 

They will be evaluating 600 single-family homes in Whatcom and Skagit Counties. They want to look at a variety of single-family homes, new and old, large and small.

If you have a home on the market or are selling one soon and would like a free energy efficiency evaluation can schedule an evaluation.

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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

It makes sense to take advantage of this free energy efficiency evalution. I imagine it would be a good selling point to have a resale home that saves people money. Recent construction standards in Washington state make that a big selling point for the new construction market.  

Oct 22, 2017 07:20 AM #1
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Michael Eisenberg

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