Whether you’re going green with solar panels and other features for your own needs or because you think it will help sell your home, it’s important to know the truth. Home sellers often try to upgrade their home in ways to make it fetch a higher price and “green” features have become very popular.
From a full solar system for energy to Energy Star-Rated appliances, homeowners have plenty of decisions to make. However, will the new green features help to sell the home or will they make it harder? The answer depends on a few things.
Finish, Fixture and Features
Buyers won’t just pay for something they know is green. They want to feel it and show it off to everybody. Features, such as a spa feeling in the bathroom or a chef’s kitchen give buyers the ability to brag to those they know. Some buyers won’t pay extra for features they simply cannot see, such as new plumbing or wiring.
This makes green features a bit of an oddity because they fall in between something you can see, feel and brag about and something you cannot. There is certainly a “coolness” to solar panels or a thermostat providing energy-savings and controls features from a smart phone. However, other green features, such as reclaimed hardwood or air filtration systems may not provide the same cool factor.
It will all depend on the green feature and the benefit it provides for the buyer. If the buyer sees it as a money-saving option or something with a “cool factor” they may pay extra for it. If not, they may not pay extra for the feature you added and thought was cool.
Will it Save Money?
If a green feature doesn’t provide a coolness to it, but it provides money-saving benefits that you can prove, it may be something buyers want. For example, energy-saving appliances may be something buyers will pay more for simply because they help save money on an energy bill.
Solar panels often hit both the coolness factor and the energy savings factor, which some buyers will pay extra for. However, it all depends on the buyer and how popular these features have become in the local market.
Environmental Friendliness is on the Rise
Green features are on the rise simply because a larger group of buyers are concerned about the environment today compared to years ago. Not all buyers will care as much about the coolness of the feature if it provides cost-saving benefits and helps the environment. However, this all depends on the market and which green features you have built into your home.
If you’re considering upgrading your home and making it greener, you shouldn’t do this just to sell your home. However, if you plan to live in your home for many years and you will benefit from the features, adding green features is a great way to go, especially with the federal government offering some tax credits for some of the features, such as a solar system.