Let's forget about interest rates for a minute and look at the big picture. Many people want to sell their home but are worried that their home value has gone down and don't believe it is a good time to sell. Prioritizing the impact of your home will increase your home value. This is the perfect time to do an audit of your home and see how you can add value by going GREEN.
Homes with third-party certifications like Energy Star, National Green Building Standard, Pearl Certification, or LEED for Homes have proven to add contributory value to properties.
In March 2023, the National Association of Realtors surveyed its members about sustainability issues facing the industry. Some of the findings are as follows:
32% of respondents reported that their MLS has green data fields, and respondents typically used the green data fields to promote green features and energy information.
63% said energy efficiency promotion in listings was very or somewhat valuable.
48% of respondents found clients were at least somewhat interested in sustainability.
42% of homes with green certifications spent neither more nor less time on the market.
Ways to Go Green
Energy Audit: Reach out to a local Energy Audit company and schedule an appointment. The cost is between $400-$500. They will assess your appliances, HVAC system, insulation, water flow, etc. and give you a detailed report on how you can improve the energy consumption of your home. Yelp's Best Energy Auditors LA
Energy Star: When buying appliances, water heaters, air conditioners, windows, doors and even lightbulbs look for that Energy Star logo.
Windows: Eco-friendly windows can improve your home's energy efficiency bot in heating and cooling. Not only will this have global impact but you will also save in monthly utility bills. Also Energy Star rated windows will improve your property value and attract buyers when it’s time to sell.
Insulation: Adding insulation to your walls, ceilings and floors can greatly improve your home’s energy efficiency, decreasing your heating and cooling needs and reducing energy costs.
Solar Panels: Solar panels increase the appraisal value of a house by 4.1% on average, according to a study conducted by Zillow. Solar panels lower monthly costs and are an abundance of energy. In Los Angeles a majority of days will have sun exposure so why not reap the benefits of living here. Plus energy companies will buy back energy which is also an added financial benefit.
Use eco-friendly paints: Conventional paints and stains are often full of toxic chemicals that get into the air in your home. Make the switch to better paints that are lower in volatile organic compounds (VOCs) and other toxic substances for a healthier home environment, as well as a lower ecological footprint.
Native Plant Landscaping: Drought tolerant plants are certainly the way to go, particularly if you live in Los Angeles which is technically a desert climate. Check your local city government website for rebates for removing water-inefficient grass with drought-tolerant landscaping. LA Cash for Grass Rebate Program
GOING GREEN REBATE FINDER Check out this website for tax credits and rebates for GOING GREEN!
Reach out with any other ideas and stories about GOING GREEN that I can share in my next newsletter.