Sell Your House For More Money with These Energy Improvements
By Mary Ripley on August 6, 2018
We here at the North East Ohio Public Energy Council (NOPEC) know that when you are thinking about selling your house, you want your home to have the highest appraisal value possible. Minor improvements and staging can make your home more aesthetically pleasing and increase your asking price, but what modifications can you make that will really bring in the high-dollar offers — and maybe even fuel bidding wars—when you sell? If you want to make a profit from the sale of your home, the real return on investment comes in energy upgrades. And the time to start making the changes to your current home’s energy efficiency is now.
ENERGY UPGRADES INCREASE YOUR HOME’S VALUE
The expense of home energy upgrades can be intimidating. But the potential return is well worth the investment. U.S. News and World Report found that if a home shows reduced energy costs of $1000 annually, the average home buyer will be willing to pay $7095 more.
So what kind of energy improvements can be made that will really boost the selling power of your home? Here is a rundown of just a couple energy upgrades you can make to get the most return on your investment.
HOME BUYERS LOOK FOR THE ENERGY STAR RATING
Energy Star, the U.S. standard for rating products based on their energy efficiency, is by far the one outstanding upgrade that home buyers look for when purchasing a home.
A study in found that 94% of home buyers want Energy Star-rated appliances. If any of your appliances are older than 1992, they most certainly haven’t been rated for efficiency. And if you plan on selling your home with appliances that aren’t rated energy efficient by Energy Star, you can forget about getting a premium for them or your home.
That same study reported that 89% of home buyers seek an Energy Star rating for their windows. Energy Star rates windows for energy efficiency based on such factors as framing, UV resistance, number of glass panes and added gas.
Energy Star rated windows improve insulation. The Department of Energy estimates that 10% to 25% of a home’s energy can be wasted because of old windows. Your heating and air conditioning must work harder, and that means more wear on your HVAC and higher energy bills.
Things like double- or triple-paned glass boost a window’s Energy Star rating and help to keep your home temperate no matter what season. And to raise your Energy Star rating even more, there is the option to add odorless, colorless gas like argon or krypton in between your glass panes to create even more of a buffer between your home and the outdoor elements.
Energy Star rated windows are also UV resistant (called Low-E or low emissivity). Blocking ultraviolet light from entering your home protects wood floors and furnishings from fading.
GET TOP-DOLLAR FOR YOUR HOME WITH A NEW HVAC SYSTEM
Although it is perhaps one of the most expensive energy upgrades you can make to your home when selling, replacing your HVAC system has the biggest return on investment. It can be as attractive to home buyers as a very large discount on selling price. To save money, always check your local HVAC companies for year-end sales. You will often find deals that offer free installation, or even a percentage off, if you decide to upgrade both your heating and cooling systems at the same time.
SAVE 20 – 40% ON COOLING COSTS EACH YEAR BY REPLACING AN OLD INEFFICIENT A/C UNIT
When shopping for a new air conditioner, make sure it is Energy Star rated and has a SEER (seasonal energy efficiency ratio) value of at least 15. The higher your SEER ratio, the more energy and money you will save.
DID YOU KNOW IT’S NOW POSSIBLE TO GET A 95% ENERGY-EFFICIENT FURNACE?
A new energy efficient furnace can also be an important selling factor for a large ROI. Even if your furnace has been rated for energy efficiency, the standards used have changed in the past 20 years. Plus, the efficiency of the energy it uses degrades with each passing year.
When trying to sell your home for top dollar, don’t skimp on the energy improvements. The price of new equipment or systems can be daunting, but the return on your investment will be well worth it when you’re fielding multiple offers and have the power to demand the selling price you know your home is truly worth.
For even more tips and tricks for making your home more energy-efficient (and more attractive to buyers), visit NOPEC’s Tip House.Tags: Energy Tips