5 green home improvements that can help sell your home for more
Demand remains high for energy-efficient, eco-friendly home features, according to a survey by the National Association of Home Builders. In fact, the majority of builders now put energy-efficient windows, heating and cooling systems, thermostats and appliances in their construction, the survey says. If you’re selling your home and hope to compete with new construction — as well as set your house apart from other resales — making green improvements could significantly pay off.
“Updating your home with green features can attract more buyers and even increase your home's sale price,” says Geoff Lewis, president of RE/MAX, LLC. “Buyers are not only looking for cosmetic upgrades, they also want improvements that will help save them money for as long as they live in the home.”
Some green projects you can easily accomplish yourself, like replacing less efficient light bulbs with compact fluorescent light bulbs or LEDs throughout the house, or installing a programmable thermostat. Other improvements may require professional expertise but can result in even bigger payoffs.
Here are five popular green home improvements that could help boost your home’s resale value, and save you money until you’re ready to sell:
* Windows: Replacing older windows with ENERGY STAR-rated high-efficiency windows could lower your annual energy bill as much as 12 percent, according to the United States Department of Energy. What’s more, ENERGY STAR-rated windows may qualify for a tax credit of 10 percent off the cost of the windows.
* Insulation: Most homes in the U.S. don’t have enough insulation, according to energystar.gov. Adding insulation and sealing air leaks could reduce annual energy bills by 10 percent. At the time of resale, adding fiberglass insulation in the attic could recoup 107 percent of the cost, according to Remodeling Magazine’s Cost vs. Value report.
*Front door: It’s a key part of your home’s curb appeal and the last exterior feature homebuyers see before entering your house. However, a front door needs to do more than look good. Replacing an older, wooden door with an energy-efficient, secure steel door recoups more than 90 percent of its cost when you sell your home, according to the Cost vs. Value report.
*Landscaping: With warm weather approaching, it’s a great time to think about landscaping that has green value as well as cosmetic appeal. Adding trees in addition to flowers can provide shade that will help keep the home’s interior cooler in summer months. In fact, according to the National Association of Landscape professionals, planting five shade trees can return up to 100 percent of the project cost when you sell your home.
*Water: Most water heaters last about 10 years, so if your home is older, a new water heater could be a big selling point. A tankless water heater could be even more appealing; because they only heat water when it’s needed, rather than consume energy to hold gallons of water at a set temperature for hours, tankless water heaters use far less energy. ENERGY STAR says a tankless water heater could save you up to $1,800 over its usable life — which is twice as long as the lifespan of traditional tank water heaters.
When you’re thinking of selling your home, you’ll probably invest a lot of time and energy into staging. Consider saving some additional budget for energy-efficient home improvements that may help boost your home’s value. A knowledgeable real estate agent can advise you on which green home improvements can get you the biggest return on investment. Visit www.remax.com to find a real estate agent near you.