Today, more than ever, people are environmentally conscious. One study predicts residential green construction will grow 24% a year from 2015 onward. You would think this translates into people wanting greener homes. However, there are many things to look at when it comes to whether an eco-friendly home translates into a home that is easier to sell.
Is the investment really worth the initial cost of adding green technology? Is an eco-friendly home a selling point?
While installing solar panels or a geothermal pump can reduce energy costs, the initial cost to install these items can be prohibitive. With the advantage of tax breaks and savings over time, these systems do pay for themselves. If you’re going to be in your home more than a few years, adding green technology is a smart investment. It also can help sell your house.
Find a Wider Buyer Base
Those who are looking for sustainability in their homes will be much more likely to consider buying a home with green technology already in place. At the same time, having solar panels, wind power and other renewable energy sources aren’t likely to turn off buyers who aren’t quite as environmentally conscious.
Even those who aren’t completely devoted to reducing their carbon footprints can appreciate the importance of caring for the environment. You may be able to market your home to traditional buyers and those who want a green home.
List in a Niche Green Home Database
Did you know you can list a green home in a niche database that caters to those looking specifically for a home with renewable energy options? Not only will your home be listed in the general MLS listings, but you’ll have the opportunity to capture the attention of buyers specifically looking for green features. This can widen your buyer base even further.
Save Money and Energy
Everyone likes to save money, which can make your green home very desirable to buyers. For example, a home with a geothermal pump typically uses between 25-50% less electricity than a conventionally supplied home. That can equal about a 40% smaller electric bill. Geothermal energy also does not contribute to outdoor pollution as a traditional condensing unit would.
A home that combines a system like geothermal with other energy-saving technological advances can result in huge savings on its heating and cooling bills.
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Sell at a Higher Price
In some locations, a home that is environmentally friendly may even sell for more money than a traditionally supplied home. For example, in Seattle, homes certified by third parties as “eco-friendly” garnered a price that was 8.5% higher than homes without such certification and sold 22% faster.
Buyers may be more likely to take into consideration the long-term energy-savings of purchasing an eco-friendly home. Even though the initial cost of the home may be slightly higher, the savings in energy bills will pay off over time.
Embrace Healthier Living
Eco-friendly homes can also be marketed as healthier homes. People who live in first world countries spend around 90% of their day inside. That means the quality of indoor air impacts their overall health more than in countries where people spend more time outside. Green homes have better indoor air quality because the materials used are less toxic and ventilation cycles outdoor air better.
Those who are committed to living a greener lifestyle may just naturally make healthier choices, such as growing their own fruits and vegetables and eating higher quality food.