Increasing Home Value With Energy Updates

Increasing Home Value With Energy Updates

 

Selling a home can be a frustrating experience. A home that you have lived in and loved can seem perfect to you, but potential buyers don’t seem to be having the same experience. Watching a stream of people parade through your beloved house and look at it with a critical eye can be difficult – what is it that they don’t like? Why aren’t they excited to buy?

The answer is definitely multi-faceted. For anyone who has spent time watching HGTV, “curb appeal” is one aspect. Just like any other retail industry, buyers want to see a beautiful home and atmosphere. They want to feel like they are getting the most bang for their buck. This is why a lot of articles on increasing home value focus on investments in improvements that people can see – things like kitchen and bathroom remodels, which will also offer the biggest return on investment when it comes time to sell.

But another aspect of selling a home comes with creating a comfortable environment, and explaining to potential buyers how that environment is created. They want to know that the home will be warm in winter and cool in the summer, and that they don’t have to worry about repairs in the near future.

This is where HVAC improvements and energy-efficient upgrades come into the picture. They are not the most exciting of improvements, but showing potential buyers that they really are getting the best value for their dollar is all part of the sell, especially when you assure them that their new home will feel as good as it looks.

 

Energy-Efficient Windows

Installing new windows can be a big investment, and like any other value-added improvement you aren’t guaranteed to get a 100% return on cost. But having brand new windows can be a benefit for both you and potential buyers, especially if you are living in the home while waiting for it to sell. Energy efficient windows help to lower your heating and cooling costs – plus, they look good! Any visual improvement to your home is a definite win…and just imagine how happy potential buyers will be when they learn that the beautiful windows will also mean lower energy bills.

 

A Finished Basement

Having a finished basement adds value to your home in a few ways. First, it adds usable living space to your home. Second, it also reduces the chances of your basement being an energy drain on your home. Unfinished basements can be a huge source of drafts and can cause issues when it comes to keeping a home at a steady temperature. With the space finished and completely insulated, the energy bills in your home are likely to drop.

 

Updated Roof

It is definitely not the most exciting of home improvements (and one that likely won’t end with 100% return on investment), but potential buyers expect the basics of a home to be in good working order. Much like the windows, if your current roof is looking a little rough, or there are indications of potential roof problems on the inside of the home, potential buyers may just see extra dollar signs down the road. Roof improvements can put buyers at ease, especially if they potentially come with energy cost savings.

 

New or Upgraded HVAC System

Adding a brand new HVAC system, or updated components of your system, is a tricky question. This is a part of the home that potential buyers expect to be in perfect working order when they buy the house. If you are currently having issues with the system, now is the time to do repairs. This is beneficial for homeowners who will be living in the home while waiting for it to sell, especially for those living in slower markets – you will be able to reap any potential energy savings in the meantime.

If you don’t need to invest in a new system, consider making upgrades on smaller components such as the thermostat. Adding an upgraded digital or smart thermostat is definitely less expensive than replacing major components, and it gives your home an updated look and feel.

 

Safety Features

Adding home safety features is a relatively low-cost investment that also provides visual gratification for potential buyers. Much like adding a digital or smart thermostat, updated smoke and carbon monoxide detectors can make a home look more modern. Smart detection systems also allow new homeowners to ensure the safety of their home from a distance, which means added peace of mind and translates into a feeling of security when it comes to your property.

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