Energy Efficiency Home Upgrades to Increase Your Property Value
By NOPEC on June 26, 2019
Energy efficiency upgrades can not only lower your energy bill; they can also increase your home’s value. A National Association of Home Builder survey found that if a home shows reduced energy costs of $1,000 annually, the average home buyer will be willing to pay an additional $8,728. So much for home staging and that fresh coat of paint! You may be better off making energy improvements to really boost the selling power of your home. Here are some energy efficiency upgrades to increase your home’s value.
Insulation is often overlooked when getting your house ready to put on the market but increasing your home’s insulation can be one of the fastest and most cost-effective ways to reduce energy waste. Add insulation to your attic, crawl space, basement, and exterior walls to help keep your house cool in the summer and warm in the winter. USA Today reports that reinsulating your attic alone can add an average of $1,482 to your property value
New windows can be another way to save energy and spruce up your home’s appearance. Air can more easily escape out of older windows, causing your heating and air conditioning to work harder, which means more wear on your HVAC and higher energy bills. Not to mention, old windows can have clouded, cracked, or loose glass that can cheapen the look of your home.
Look for windows with a high Energy Star rating, which is based on factors such as framing, UV resistance, number of glass panes, and added gas, to keep your home temperate, no matter what season. While this can be a costly investment upfront, the Department of Energy (DOE) says new windows can lower your energy bill by an average of 12 percent.
Although it may be one of the most expensive energy efficiency upgrades, replacing your HVAC system has the biggest return on investment. Space heating and cooling are typically the biggest drivers of your energy bill, with your air conditioning and your furnace account for about 43 percent of your bill.
As referenced above, the USA Today article states that replacing your heating and cooling systems that are more than 12 years old can save you an estimated 30 percent of your energy bill. When shopping for a new air conditioner, you’ll want to look for a high Energy Star rating as well as a SEER (seasonal energy efficiency ratio) value of at least 15. The higher your SEER ratio, the more energy and money you will save.
If your roof is due for an upgrade, consider replacing it with a cool roof. Cool roofs are typically either white or some other reflective color, and the metal material is designed to absorb less heat and reflect sunlight away from the house. USA Today says this helps the roof remain about 50 degrees cooler during the summer months, compared to other roofing materials. Even if your roof isn’t ready for a replacement, you can make your existing roof cool with a coating that’s similar to a thick paint.
Sell Your Energy Efficient Home
When the time comes to sell, don’t forget to market your energy efficient home. Talk about the energy efficiency upgrades in your listing and share copies of your utility bills with prospective buyers. While the price of new equipment or systems can be daunting, the return on investment will be well worth it when you’re fielding multiple offers and have the power to demand the selling price your home is truly worth.
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