Steven Palatt's Blog
Homeowners looking to get top dollar for their house often invest in improvements to make their home more appealing to prospective buyers. Sure, they can slap up a coat of paint and make other minor cosmetic improvements, but these won’t necessarily increase their home’s value.
In a survey conducted by the National Association of Realtors®, eco-friendly homes and energy-efficient products are in high demand with 59% of realtors® responding homeowners were “very” or “somewhat” interested in sustainability. Agents also indicate promoting energy efficiency in their listings increases buyer response.
Adding Energy-Star rated appliances is a great start—here are other top green features you can consider adding to your home.
1. New Windows and Doors
Older windows and doors allow drafts, burning extra fuel and electricity for heating and cooling. Installing Energy-Star rated (or triple-pane, glass, insulated) windows and a high-quality door promote energy efficiency. As a bonus, they boost a home’s resale value. Homeowners who install windows see a return of investment (ROI) of roughly 70% and steel doors about 75%. They also save 7% to 15% on their energy bill after the installation. Not a bad ROI!
2. Add a Solar Water Heater
Solar water heaters cost between $6,000 and $17,000, so it’s not a cheap upgrade, but you might want to consider this investment. Solar heaters increase the value and marketability of your home and can add a 4% to 4.5% resale value. Plus, you’ll save on your energy bills while you’re still in your home.
3. Replace Bathroom Fixtures
Toilets, sinks, and shower heads installed prior to the mid-1990s are water hogs and don’t meet current federal, water-saving standards for fixtures. The U.S. Department of Environmental Protection Agency recommends homeowners buy fixtures with the “WaterSense” labels. With these upgrades, you can save big on water and on utility bills. Some statistics suggest even minor bathroom upgrades will bring you a 102% ROI. A renovated kitchen and bathroom definitely perk a buyer’s interest, but these days energy-efficient upgrades will get you a better ROI than the usual remodels.
4. Upgrade Insulation
The quality of home insulation matters because it has a direct impact on your heating and cooling bills. Angie’s List reports two-thirds of homes in the U.S. aren’t properly insulated. Homes over 10 years old are likely not insulated to current standards. If you want to upgrade your insulation, a good place to start is in the attic because you can recoup 116% of your costs.
By adding green features, you’ll increase your home’s appeal and better solidify your asking price. If you want to learn more about Energy Star appliances or how green features add value to a home, feel free to reach out!