Energy Improvements can be Appealing to Buyers
If you have de-cluttered?your home, spruced up the yard, done some touch-up painting and other minor improvements and still have no offers, maybe it is time to make your home more energy efficient.
?Greening? up your home is often the forgotten improvement, usually because sellers think it is too expensive.? But some green touches do not have to be expensive and not making them could cost you even more.? I read an article recently that said the National Association of Realtors lists energy efficiency as one of the top attractions for buyers.? The most sought-after energy features are energy efficient appliances and windows.
Other desired features are weather stripping around windows and doors, beefed up insulation and programmable thermostats that automatically turn the heat and air conditioning down when everyone is in bed or not one is home.
Before you do anything to your home, you should first obtain an energy audit.? Utility companies often provide this service at no charge.? Once you know how your home is using, and may be wasting, energy, pick out some high impact areas that you can address cost effectively.
How much you should spend will depend on your financial situation and how much impact the improvement will add to your?home.? Solar panels, for example, may not add as much value to your home as new windows.? You should also trade off what you have to spend in what you may save by not having to lower your price.
New windows, for example, may cost $10,000, but they may also keep you from having to lower your price $10,000.? Also keep in mind that there are financial incentives to help you pay for energy improvements to your home.? The federal energy tax credit for home energy improvements expired at the end of last year, but there are rebates available from different sources.? Check them out.
Once you have made your home as energy efficient as your wallet will allow, it is important to let potential buyers know.? Most listing services do a poor job of labeling?green homes, so it is up to your agent to do the work.? Make sure your real estate agent highlights the green features in your home.
Also, make sure any appraisal of your home adds in the value of the energy improvements to your home?s overall value.
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