Did you know that homebuyers are willing to pay over $8,000 more upfront on a home if they can save $1,000 per year on utility payments? Energy-efficient upgrades are a hot topic with homebuyers and sellers, and sellers who make a few improvements to their home could earn more at closing. There’s no shortage of ways to make your home more eco-friendly, but what are some of the top energy-efficient upgrades buyers want?
Replace appliances with energy-efficient versions
Whether it’s a big-ticket item, like your furnace, or a smaller appliance, like a washing machine, you can find updated versions of any appliance. Appliances with an ENERGY STAR certification can save you money in the long haul. Using an ENERGY STAR-certified dryer could save you more than $200 annually.
Replacing appliances before you sell a home can get expensive. So instead of busting your budget trying to get all new appliances, do some research and find out which appliances or systems it makes sense to replace.
Switch to LED bulbs
It may seem like a small improvement, but lighting costs can account for as much as one-third of a home’s utility bill. You can also find energy-efficient lighting fixtures, in addition to LED bulbs. While these types of bulbs used to be much pricier than regular light bulbs, the cost has come down in recent years, making it even more appealing to update your light bulbs. Not only do LED bulbs last longer, but they could also help save over $8 per month in utility costs.
Install a smart thermostat
A smart thermostat is a great feature to add if you’re thinking about selling. Many buyers have even come to expect this technology in a potential home. With a wide variety of options and price points, you can find a programable thermostat that fits your budget, while still appealing to potential buyers.
Replace your windows
This is no small project, but replacing your home’s windows can majorly improve your value. New windows have the potential to boost your home’s value by $11,000, so it’s certainly something to think about. Replacement windows not only improve the look of your home, but they also have the potential to increase your energy efficiency. Many experts say you should replace your windows every 15 to 20 years.
Upgrade your insulation
While you can’t see it, your home’s insulation provides crucial support for your heating and air systems. Properly insulated walls can save you up to 15% on your heating and air conditioning bills. Whether you want to sell, or just make your home more efficient, replacing and upgrading your insulation can make a big impact.
Wondering what your home could be worth? Reach out to me at 8Z Real Estate and I’d be happy to have a conversation about your home’s value. Even if you aren’t planning on selling anytime soon, it’s great to know how much equity you might have.
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