Energy-Efficient Features Can Increase a Home’s Value
Making homes energy efficient will not only save money but will also add value to the properties as well. These homes usually sell faster and sell for a higher amount as well.
According to Go Banking Rates, Kate Colarulli, chief corporate development officer at CleanChoice Energy, said that upgrading your home with energy-efficient features can often enhance your home’s value. “Beyond just saving you money on your current electric bills, these upgrades can improve the overall value of a home,” she said. “A recent study, conducted in 2022 by the lender Freddie Mac, found that homes with energy-efficient upgrades resold faster and for about 2.7% more than homes that did not have those upgrades.”
Colarulli recommends starting with an in-home energy assessment. “Experts can come into your home to identify efficiency improvements, like certain windows that need to be replaced or resealed or appliances that need to be upgraded,” she said.
Colarulli also pointed out that there are often government rebates and incentives for home efficiency projects. “The Department of Energy is now offering more rebates as part of the newly passed Inflation Reduction Act,” she said.
Here are some of the general suggestions Colarulli provided to make your home more energy-efficient:
- Seal windows and doors.
- Invest in a smart thermostat and assess if your home, particularly your attic, is properly insulated.
- Upgrade your water heater to a tankless system or energy-efficient model.
- Replace lightbulbs in your house with LED options.
- Upgrade appliances with energy-efficient models when it’s time for a replacement
- Consider installing a high-voltage outlet in your garage for an electric car charger.
- Consider native plants and grass alternatives for your lawn. This cuts down on maintenance and water use.
- Consider connecting your home to clean energy.
