How Do Green Upgrades Affect My Home Value?
Updated: May 9, 2022
Investing in green home upgrades reduces your overall utility bills and makes your home a more comfortable place to live. But do these savings translate to increased property values and quicker sales times?
Surveys show us that the answer to these questions is, “yes!”
Two Ways to Benefit from Green Upgrades
There are two ways that both you and a potential buyer will benefit from the green upgrades you make to your home today.
1. Green upgrades save you money.
Reducing your energy consumption, converting to solar energy, upgrading your HVAC, and using ENERGY STAR products are all proven ways to cut down your monthly bills. Additionally, these home updates will make your home a more comfortable place to live, bringing truth to the sentiment that “there is no place like home.”
2. Clean updates increase your property value.
Surveys show that buyers are looking for the sustainable updates that you plan to make to your home. According to FreddieMac, 89% of buyers have said that Energy Star-rated windows are a “must have” and 81% of buyers desire an Energy Star rating for the entire home. Additionally, a Berkeley Lab report shows that home buyers will pay a premium for homes with solar panels installed.
Overall, green home upgrades enable you to save money on monthly bills, while also increasing your home values in the long run. Additionally, these clean upgrades benefit your community by reducing emissions from power plants. What’s not to love?
Five Green Upgrades That Automatically Increase a Home’s Value
Most green upgrades will help to improve your home value, as they will increase your home’s overall Energy Star rating. However, the below five green upgrades have been proven to boost home valuation and increase the perceived value of your home.
1. Install solar panels. In a recent survey, 40% of Realtors said that solar panels increased the property value of a home, while 61% of respondents told the surveyor that their clients were interested in sustainability.
2. Get an Energy-Star rated double pane window and door system in place. This is an upgrade for which 89% of buyers are looking.
3. Upgrade insulation and HVAC to increase your overall Energy Star rating. Realtors told surveyors that reduced utility costs and indoor air quality were among the top ten things most homeowners consider when purchasing a home.
4. Install a cool roof and cool walls as an added boost to your home’s energy efficiency. Again, this update reduces overall utility costs, making your home more desirable to any potential buyer.
5. Install Energy Star rated sun tubes or tubular skylights for an energy-efficient boost to the lighting in your home. Using Energy Star certified materials in your home shows a potential buyer that they have a proven way to save money in the long-term once they purchase your home.
Are you ready to tackle green home upgrades? Contact SF Green Construction today.