The Appraisal Journal reports that energy efficient homes have an increased market value by as much as $20 for every $1 they save on annual energy costs. These findings equate to nearly $10,000 in increased home value.
Chicago, IL (PRWEB) March 29, 2012
According to the Residential Energy Services Network and various other 2011 reports, homeowners from Florida to Alaska are investing in energy efficiency improvements to conserve energy, improve home comfort and add value to their homes. The Appraisal Journal reports that energy efficient homes have an increased market value by as much as $20 for every $1 they save on annual energy costs. These findings equate to nearly $10,000 in increased home value. Further research shows that while these homes may be priced higher, they still sell more quickly than other comparable homes. With the certainty of lower utility costs and better heating and cooling comfort, home buyers are choosing energy efficient homes regardless of the higher price tag.
As this emerging market force spreads across the country, the Chicago Multiple Listing Service (MLS) is making changes to better promote energy efficient home features. The service has added HERs Ratings (Home Energy Rating System), ‘Green’ features, and much more to their home search selections. Home improvements such as increased insulation, Aeroseal duct sealing, furnace or HRV upgrades (for cleaner indoor air), Energy Star appliances, and new windows are but a few of the efficiency improvements that will be listed. In many cases, homes that have undergone professional energy audits and retrofit work will have a certificate and/or diagnostic report which are now being recognized by the MLS. Real estate agents agree, if you’re trying to sell your house this summer, this is another way to separate your home from rest of the homes out there.
Rob Schildgen, owner of Priority Energy and leading energy and comfort solutions expert says, “Efficiency upgrades are very affordable compared to other renovation projects and can usually be completed in only one day. Be sure your auditor is a certified BPI or RESNET professional and that he/she performs a full diagnostic test. Findings and recommendations should be prioritized and show improvement costs in relation to improved comfort, energy saved and/or environmental impact.”
“You gain valuable information about your home from a comprehensive energy audit and the associated improvements provide year round benefits; from better AC performance,increased comfort, energy savings, improved indoor air quality, and much more," Rob adds.
Homeowners, Home Buyers and Home Sellers and Real Estate Agents
Energy Efficient Mortgages (EEM) and Energy Improvement Mortgages (EIM) are available to qualifying home buyers and homeowners who may be refinancing. These options can help defray the cost of efficiency improvements or may increase the buying power of a consumer. Check with lending companies for more information.
Priority Energy, LLC
Founded on the principles of educating homeowners, contractors and builders, Priority Energy is a one-stop source for residential and commercial energy efficiency solutions. The team is made up of RESNET and BPI Certified Energy Auditors and HERS Raters who have backgrounds in engineering and building sciences. The company is also a leading RESNET and BPI Energy Auditor Training Center.