Selling a Green Home in the Current Market

home lit up - selling a green home in the current market

The market for green homes has never been better. In the wake of the Covid-19 pandemic, more and more people are looking for ways to live healthier, more sustainable lives. A green home is a perfect solution for those wishing to make some positive changes to their living space and their daily lives.

If your home is eco-friendly and you’re considering marketing it, now may be the time to do so. While the demand for existing houses has dropped in 2022, the demand for green homes is still there.

Home buyers are far more aware of the benefits that will accrue to the environment and their wallets if they buy an eco-friendly home. With the right marketing and pricing, you can find a buyer willing to pay top dollar for your green home.

Green home buyers are looking for more than just a beautiful exterior design. They want a home that will provide them with a healthy environment to live in, as well as one that is economical to run.

Market Your Home 

“While you can control your home’s energy efficiency only to a certain extent, you can control the way you market it, as well as what you price it at,” says PDX Renovations.

The pandemic forced millions of people to spend extended periods in their homes and this emphasized just how much they depend on them. That led many people to tackle home renovation projects, but not everyone focused on making their homes more sustainable and cost-effective to operate.

If you’ve already done even simple work such as replacing old appliances with more energy-efficient models and upgrading insulation, this can give your home a competitive edge. And if you’ve invested in renewable energy systems like solar power, that can make your home stand out from the competition.

Energy efficiency is becoming more and more important to house buyers today. Given the rising costs of energy, it’s common for homebuyers to be concerned about potential increases in energy bills and more interested in a home that is energy efficient.

Stimulating Investment

Economic stimulus packages are being designed to help households transition into more sustainable operating patterns, including providing financial incentives for home improvements like the ones mentioned above.

Across the states, there are tax rebates and incentives for those homeowners who are interested in installing solar panels. In July 2022, the Biden-Harris administration introduced 2 new programs to enable lower-income households to have affordable solar panel systems installed. The aim is to help reduce electricity bills and also create more jobs in the clean energy sector.

An added bonus is that for folks looking to sell their home, it has become more feasible to install solar panels now without having to wait so many years to see a return on that investment.

The International Energy Agency also recently launched a report highlighting the potential opportunities for stimulating investment in sustainable housing. The report suggests that building retrofits and upgrades to existing properties—especially those that are located in high-carbon areas—could deliver substantial environmental and financial benefits.

According to the IEA, globally, the annual value of the market for retrofitting buildings is expected to reach $2.7 trillion by 2030. This denotes a CAGR of 10% from 2020 onwards. Furthermore, the agency estimates retrofit activity could contribute up to 30% of the global GDP gap between today and 2050.

This is likely to mean more investment in greening properties and an even bigger market for sustainable homes. For those looking to sell their homes, it could mean that in the near future, sustainability upgrades will be a necessary part of preparing to list a home if sellers want to find ready buyers.

How to Get Your Green Home Ready to Sell

person tending flowers - selling a green home in the current market

When it comes to green homes, there are two immediate considerations. The first is how efficient your home is. This includes things like the amount of energy used, water used, waste produced and carbon emissions created. The second component is how efficient your home could be without you breaking the bank.

You have plenty of options for making a home more eco-friendly and green. Even simply switching light bulbs to energy-efficient versions can start to make a difference.

Another effective way to improve energy efficiency in a home is to improve your insulation. You should also ensure the home is well-sealed. These are straightforward strategies to weatherize your home that will effectively reduce how much energy it consumes without necessarily taking a lot of extra money or effort on your part.

Weatherizing can be as simple as caulking and sealing cracks and gaps around doors and windows or as complex as adding insulation to your walls and attic.

Wall insulation will help you to reduce your energy consumption by up to 35%. This applies to the power you use to both cool and heat your home. Floor insulation is also an effective way to save energy and can cut your bills by up to 15%.

If replacing appliances is part of your strategy to get your home ready to list, look for the ENERGY STAR label when upgrading to more efficient models. That label has a great deal of consumer awareness behind it, and homebuyers will look more favourably on appliances that have it than ones that don’t.

You can also install water-saving plumbing fixtures and use recycled and sustainable materials in any renovation work you do to get your house ready. There are many other things you can do to make your home eco-friendly, so do some research and find what works best for you.

As a final suggestion, you could switch over to green power suppliers. These use energy sourced from solar or wind power. This will further reduce your home’s carbon footprint. Making this switch can send the message to potential buyers that you’ve been committed to making your home more environmentally friendly.

In Conclusion

So, if you’re thinking of selling your home, it may pay to discuss all these energy reduction benefits with your realtor. They can then create effective sales materials that emphasize the “green” value of your home and how it will provide long-term benefits for the new owners.

The world has certainly altered since the pandemic and this is clearly reflected in the current housing market. Improving energy efficiency in your home could be the step you need to attract buyers.

Feature image: vu anh; Image 1: Ian MacDonald

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