The Value of Energy Efficient Upgrades When Selling a Home

Posted by EdmontonRealEstate.ca Team on Tuesday, September 19th, 2017 at 1:26pm.

How Energy Efficient Upgrades Can Help Sell a HomeAsk most home sellers what they think a buyer will look for in their next home and it's likely that answers like a great location, good neighborhood and close to amenities will be forthcoming. What many people don't realize is a potential home buyer is in the market for a home that isn't going to cost them a great deal of extra money once they move in. This means that upgrades that increase a home's energy efficiency are likely to also improve its selling price and increase its appeal.

Where to Start

A homeowner might not even realize that their home is using energy inefficiently and, therefore, increasing their own utility costs. A good place to begin is by getting an energy audit or assessment. In many areas, a utility company will provide such as a service free or at a low cost. Having a private company perform an energy assessment or audit could cost hundreds of dollars and is probably best reserved for those who plan to undertake significant upgrades.

Advantages of Making Energy Efficient Upgrades

While a homeowner might make energy efficient upgrades for their own benefit, they can also offer the same appeal to a buyer as well.

Reduced Operation Costs

While homeowners might not realize that potential buyers think a great deal about energy efficiency when searching for homes, real estate professionals are another matter. When people remodel their homes, realizing savings in their utility bills is often one of the top three reasons for doing so, according to a number of such professionals.

Improved Comfort

The right energy upgrade can significantly increase the comfort level of a home's occupants. Items such as a new heating and cooling system, for example, will be a great deal more energy efficient than one that was installed even a decade ago. This means that it will take less to heat and cool the home, increasing the comfort and joy that a homeowner enjoys.

Better Health

Environmental allergens continue to increase and can leave people who are susceptible to their effects feeling ill. A Summerside home that has improved insulation, for example, or new windows and doors, is going to naturally be more airtight. This serves to keep the air pollution and exposure to chemicals outside the home where they belong.

The positive effects on the health and body's systems, such as nervous, respiratory and circulatory, cannot be overstated, particularly for those segments of the population that are particularly vulnerable. According to research by organizations like the American Council for an Energy-Efficient Economy, children with asthma who live in homes that have undergone programs focused on upgrades experienced improved outcomes like reduced hospital admissions and emergency room visits.

Home sellers who are looking for a way to appeal to more home buyers while also enjoying its benefits should consider making upgrades that are focused on energy efficiency. For more advice on which energy upgrades have the best return for their home's market, a homeowner should consult with a real estate professional in their area.

By Justin Havre

 

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