Going for the Green: Values of Environment Friendly Homes
Green homes – great for the environment, maybe not so great at giving you the green when you’re trying to resell your home.
Don’t fret! There are remedies to ensure you are receiving the appropriate value for your home; at the 2019 Builder Show in Las Vegas, panelists explained that appraisers, lenders, builders, and real estate professionals need to collaborate together in order to price the home appropriately.
On average, these environmental friendly homes sell for 2-5% more than other properties. Extra features – like energy-efficient windows, insulation, rooftop solar panels, etc. – are seen as a high priority to homeowners and they will show a willingness to pay more for them.
In order to ensure your home sells for the correct price point, you’ll need to find an appraiser who has received extra training in detailing the energy-efficient features. Your real estate agent should also make sure they provide supporting information, like the addendum and MLSA marketing information as well.
If features aren’t being accurately presented or described to potential homebuyers, then the value will be lost – which might leave you thousands of dollars behind.