OIC_noranda_solar_houseGenerally, most of us want to sell our homes for as much money as possible so that we can comfortably begin a new chapter in our lives. According to USA Today, ‘green’ homes sell for up to 10% more than those that aren’t so environmentally friendly, but what’s the reason behind these statistics?

‘Green’ Changes Can Look Good

Most people aren’t yet so concerned about the environment that they’d compromise on style in order to be ‘greener’, but as eco-friendly features are becoming more and more aesthetically appealing, it seems that people are willing to embrace ‘green’ living. Environmentally friendly features in a home, such as wooden flooring from a renewable source, can become an attractive selling point for a property. The ‘green’ appeal of a home can be extended into the garden too through the installation of a vegetable patch for growing produce. It adds a bit of interest to the property’s outdoor space and has a practical application that prospective buyers are likely to love.

Living More Sustainably

A home with solar panels is still fairly unusual, which is perhaps why buyers are willing to pay more for this kind of feature. The idea of living more sustainably is becoming more and more popular with the general public, and judging by the inflated prices eco-friendly homes are selling for, it seems people are warming to the idea of powering their homes using renewable energy.

Savings on Utility Bills

People aren’t becoming eco-warriors just to benefit for the environment; there’s actually instant financial gratification for those living ‘greener’ lives. People are conscious of the rising cost of utility bills, which is why many are installing eco-friendly appliances in their homes. These ‘green’ integrated appliances, such as washing machines and dishwashers, generally use less energy, meaning they don’t cost as much to run. Just like a well-insulated home, a home with environmentally friendly appliances is attractive to the bank balances of prospective buyers, meaning many are willing to pay a little more for a home that could save them cash in the long run.

Obviously no home sells without the right real estate agent to market it effectively, so if your home has eco-friendly features and has the potential to sell for more money, then you need to ensure your estate agent recognises its potential. If there’s nobody local you can put your faith in, then go online and try out real estate agents like House Network.

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About

Mich is your typical middle class guy with a house and 2 kids minus the dog. He works in the IT industry and likes to muse about how to achieve more for less when it comes to money.

3 Comments Mich on Oct 14th 2013

3 Responses to “Energy Efficient Homes Sell for 10% More, but Why?”

  1. Our home–built in 1966–is not especially energy efficient. I’d definitely pay a premium for a truly energy efficient home, just based on a $$ cost/benefit analysis. Our electricity comes from hydropower where we live; still, our rates are projected to rise rapidly over the next decade.

  2. These houses, obviously, cost more the build, and the energy savings recoup is slower than advertized. Here’s hoping for most cost effective “efficient” energy alternatives in the future.

  3. People are certainly looking for more cost efficient and sustainable way to live, one that will not just be temporary, but something whose long term benefit could be seen and felt, and though there are drawbacks to energy sufficient homes, the long term benefit overcomes them.