GREEN FEATURES!
I have an article to share with you that was sent to me by a local lender:
Are a home’s green features being properly valued during the sale process? A panel of industry experts attempted to answer this important question at the recent 2019 Builder Show in Las Vegas.1 The key takeaways:
The market is changing daily. "Green" features are having more and more of an impact. On
new homes it's a no-brainer to include them however on older homes is a retrofit the way to go?
Just like any renovations you need to do your homework prior to investing. First of all ask
yourself how long do you intend to live in the home and how will the renovation affect your
life in potential savings and environmental impact. If you are considering going "green" for
resale value you need to look very hard at the cost vs. gain factor.
Our Industry is constantly changing and our duty is to share our knowledge! It's what we do.
Are a home’s green features being properly valued during the sale process? A panel of industry experts attempted to answer this important question at the recent 2019 Builder Show in Las Vegas.1 The key takeaways:
- Studies have shown that properties with green features fetch 2%–5% more than comparable homes without energy-saving components.
- Sellers who invest in certifications like Leadership in Energy and Environmental Designs (LEED) and the EPA’s WaterSense and Indoor airPLUS designations may benefit more than those who rely solely on an appraiser’s valuation.
- As owners continue to add green technologies, detailed training for real estate agents‚ lenders‚ and appraisers will lead to a better understanding of these features and their impact on a home’s value.
1Melissa Dittmann Tracey‚ “Are green features being valued enough in list prices?”‚ REALTOR® Magazine‚ last updated February 20‚ 2019.
The market is changing daily. "Green" features are having more and more of an impact. On
new homes it's a no-brainer to include them however on older homes is a retrofit the way to go?
Just like any renovations you need to do your homework prior to investing. First of all ask
yourself how long do you intend to live in the home and how will the renovation affect your
life in potential savings and environmental impact. If you are considering going "green" for
resale value you need to look very hard at the cost vs. gain factor.
Our Industry is constantly changing and our duty is to share our knowledge! It's what we do.
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