Energy Efficiency has become an important feature for many of today's home buyers. In the most recent National Association of REALTORS 2019 Profile of Home Buyers and Sellers, 10% of respondents said they purchased a new home in lieu of an existing home based on Green or Energy efficiency features. This is a trend the new home industry has latched onto and is doing a great job using it as a point of differentiation from resale homes.
While the new home industry has done a great job in marketing the energy efficiency of their homes, it isn’t purely a new home benefit, resale homes can be energy efficient as well, it just takes a little knowledge and some work.
Homeowners interested in increasing their homes Energy Efficiency have a wide range of Energy Efficiency improvements available. Before tackling these kinds of projects it's always a good idea to have a plan.
When it comes to increasing your home's Energy Efficiency the first step should be setting a baseline. This means figuring out what improvements will make the biggest impact. The best way to accomplish this is with a Home Energy Audit. An audit is a professional evaluation of your home's Energy Efficiency. This evaluation is a detailed examination of the property from how well insulated it is to how efficiently the HAVC system performs.
Once the homeowner receives the results from the home energy audit, they can begin planning their course of action. Whether adding new insulation, sealing leaky windows and doors, the audit will give the homeowner the best sense of what improvements will produce the biggest savings.
Another benefit of the Home Energy audit is that it along with receipts of any work done to the property are great for marketing the home when it’s time to sell. So, save your audit along with proof of any work you have done to improve your home's energy efficiency.
Just like the home builders do, you need to sell energy efficiency as a benefit. When homebuyers consider what home to purchase and more importantly, how much to offer they make comparisons. They compare features, benefits, and location. Having a home that can demonstrate that the level of energy efficiency is superior to its competitors ends up being a real benefit. Additionally, energy is perceived as adding value to the home, important when it comes to pricing and more importantly appraisal. Showing the appraiser proof of improvements goes a long way in substantiating a property's value.
If you are an existing homeowner and want to add value to your home as well as save a little money on your utility bills, improving your home's energy efficiency can be a great place to focus your efforts.
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