Wednesday, July 11, 2018 / by Bret Johnson
Selling a home? Get a free home value report
1. Energy-efficient appliances. Energy Star-certified appliances such as fridges, washing machines, and dryers can be as much as 40% more water-efficient and 25% more energy-efficient than standard models. Those numbers go way up if you compare new energy-efficient appliances with models that are more than a few years old. On top of that, there are some pretty cool gadgets out there, such as the NEST thermostat and solar hot water heaters that will stand out to buyers who are looking for this type of property. It will help your home stand out against others in the marketplace and create more value when it comes time to sell.
2. Solar panels. Speaking of solar, homes with solar panels sell 20% faster, according to the National Renewable Energy Laboratory. Even more impressive, they sell for a whopping 17% more than comparable homes without solar. However, make sure that you buy the system outright. If you lease the solar system, the appraiser will not be able to add value to the home based on it. There are a lot of federal incentives that make this option attractive as well.
3. Windows, doors, and siding. Renovated windows, doors, and siding typically recoup about 80% of their cost in terms of higher home value. However, a full suite of energy-efficient windows, doors, and siding might be worth even more in the current sustainability-minded market. Plus, these projects increase your home’s curb appeal, making it more likely your home will get more interest from potential buyers who are drawn to these options.
Any of these projects can potentially add a lot of value to your home. Price is a function of supply and demand, so if you can separate yourself by creating more demand on your home with some of these features, you will get a higher price as well.
If you want to discuss which sustainability projects might make the most sense in your particular case or what kind of sale price you could achieve, please feel free to give me a call.
If you have any other questions or real estate needs, feel free to call or email me anytime. I would be happy to help you.