Energy Efficient Updates: Are They Good Investments?

Posted by EdmontonRealEstate.ca Team on Tuesday, September 5th, 2017 at 12:08pm.

Updates to Make Your Home More Energy EfficientWhen it comes to selling a home, there are a lot of considerations. Finding out what buyers want and working to give them what they need are both very important, but there is more to the issue than that. Sellers will also want to focus on updating their home to increase its market value and improve the chances that buyers will purchase it. What kinds of updates should be done? Many sellers start with a focus on energy efficiency.

What Types of Updates Are Common?

When making a home energy efficient, sellers commonly choose new windows and insulation as good protection from the Canadian winters. They may also want to consider upgrading their heating system, and that can include thermostats on timers and other features that allow more control over the environment. Buying appliances that are energy efficient can also help sell a home in southeast Edmonton, because buyers will have everything they need and upgrades won't be necessary when they first move in. A house they can just get right into and bills that are lower due to efficiency are both very appealing.

What Makes a Home Energy Efficient?

There are a lot of ways to make a home energy efficient. The two main ways are to choose appliances and systems that use less energy and to make sure the home seals well in order to reduce the level at which those appliances and systems have to work. With that in mind, windows and doors are big considerations for energy efficiency. Insulating a home also matters, and energy efficient systems can make a difference too.

Do the Benefits Outweigh the Costs?

Generally, the benefits of making a home energy efficient will outweigh the costs for sellers, provided the upgrades made are standard choices. Solar panels and other types of high-dollar upgrades will also add to energy efficiency, but they may not add enough value to offset their cost. Unless those types of upgrades are common in your neighbourhood, it's generally better to leave them out of the planning and preparing for selling a home.

What Are Buyers Really Looking For?

Buyers want a home they can move right into, and one they can afford, enjoy, and appreciate. With so much at stake and a lot of competition when trying to sell a home, some of the biggest concerns involve whether the house is sound structurally and whether it looks appealing to buyers. When a buyer gets past the curb appeal issue and really starts taking a careful look at the place, that's often when issues of energy efficiency and related concerns come into play. For sellers who have taken buyers' needs and wants seriously and made energy efficient updates and technological improvements, there is a better chance of getting their home sold at a good price and more quickly.

Make Upgrades Realistically

It can be a great selling point to have plenty of energy efficient updates, but there are times when it is just not practical. Sellers don't want to go into a mountain of debt to try to make their house better, because they may not get that money back when they actually sell. If selling the home takes a long time, they could also be struggling with the debt they incurred trying to fix it up. Overall, it's better to do energy efficient updates to get a home sold, but only if they can be done affordably for a seller who wants to sell the home and move on.

By Justin Havre

 

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