Energy efficient homes sell for about $5,000 more than similar houses. But why?
What are the benefits of owning an energy-efficient home? There are two main reasons people prefer energy efficient homes to their less efficient counterparts. Let’s dive in.
Energy Efficient Homes Save Big Bucks
One of the biggest reasons people consider energy efficient homes is for electric and financial savings. On average, homes with energy-efficient products save about 25% more energy, and about $2,200 a year.
Of course, these savings will vary depending on the products invested in the energy-efficient home, and the size of the home in the first place. Investing in bigger products like solar energy from the top solar companies will help you save more.
Even investing in bigger appliances like refrigerators, washers, and dryers can create visible savings.
One of the big drawbacks is energy-efficient features can be expensive upfront. So by purchasing existing features, the new homeowners can dodge the expense of the initial setup. They also don’t have to deal with the hassle of updating inefficient appliances.
Our Planet Is Running Out of Time
The second main reason energy efficient homes sell for more is that our planet is dying. We have less than a decade to make major changes in the way we pollute our planet to prevent irreversible climate change.
So homes that have less of an environmental impact are in higher demand than homes that still need to be updated. Higher demand in a small market naturally raises prices.
Should I Make My Home Energy Efficient Before I Sell?
Here’s where it gets tricky. For the sake of the planet, it makes 100% ethical sense to make your home energy efficient before you sell it. But what about from a financial perspective?
When you make a home energy efficient, you have to pay for the initial set up of all the energy-efficient features. That can get expensive pretty quickly. And depending on your state, you may have to get various upgrades certified too.
It also depends on the different types of energy-efficient upgrades your considering. Some projects, like insulating the attic can have a positive ROI. But most other projects have a negative ROI.
But there is something else to consider. An energy-efficient home is in high demand. So if you want a quicker home sale, you may have more luck making your home energy-efficient first.
When you’re making your home energy-efficient before a sale, consider the typical ROI for each specific project to consider the financial impact.
Energy Efficient Homes Are a Great Investment
Energy efficient homes provide great savings and environmental peace of mind. As a result, they usually sell for more than similar houses in similar neighborhoods.
And in a world where we need to start making environmentally friendly decisions today, it makes sense to invest in green homes.
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