Saving the planet is a good reason to make your home more environmentally friendly, and so is lowering your energy and water bills. Now you can add a third benefit: A faster home sale and higher asking price when it’s time to move on.
A recent survey by Zillow* highlights the impact of eco-friendly home enhancements. Topping the list of features on buyers’ wish lists are electric vehicle (EV) charging stations and drought-resistant landscaping, both of which can help a home sell more than 9 days faster than similar homes. Next up are double-pane windows, which can speed up selling time by nearly a week. Smart technology shapes other in-demand features, including programmable thermostats (6 days faster), smart sprinkler systems (nearly 5 days faster), and smart lights (more than 3 days faster). Since many of these are projects you can do yourself and for a reasonable price, they’re a great way to speed your house from “listed” to “sold” without breaking the bank.
Other improvements that can help you save on energy costs may have less of an impact on selling time but may yield a better return on your sales price. Solar panels can help your home sell for 1.4% more than similar homes, and tankless water heaters can add a 1.2% premium. When combined with savings you’ll get on water and energy bills, that can add up to a solid return on investment for these enhancements.
Beyond eco-friendly measures, today’s buyers are looking for features that help protect against climate-related events. If you live in an area at risk of hurricanes, for example, storm shutters could add 1.4% to your sales price, and having a low-lying property on piers or stilts adds more than 1%. The biggest potential impact, however, is for homeowners in earthquake-prone areas: Houses that have undergone seismic retrofitting (or are built according to earthquake-resistant standards) price for 2.4% more and sell a whopping 19 days sooner!
Of course, this is just scratching the surface of environmentally friendly home options. From sustainable flooring materials to water-conserving plumbing fixtures, your appliance and décor choices can become huge selling points for your home. Just remember to tout those features in your home listing so eco-minded buyers can beat a path to your perfectly weather-stripped door!
Are you looking to help your home go green without tipping your finances into the red? Let’s talk about whether tapping your home equity makes sense for you!
Give us a call (515)252-7107 or shoot us a message Midwest Family Lending Corp.