Today’s California Homebuyers Want to See Green
Edie Israel
After years of executive sales and marketing experience as well as entrepreneurial success, Edie entered into the real estate market of Southern Calif...
After years of executive sales and marketing experience as well as entrepreneurial success, Edie entered into the real estate market of Southern Calif...
Throughout California, homebuyers are saying, “Show me the green!” And by green, we mean environmentally friendly features.
Energy-saving upgrades not only save money every month, but they increase livability and they lower your environmental impact. Buyers love the idea of being more comfortable in their homes while saving money as well as the planet at the same time.
Just How Important Are Environmental Issues to California Homebuyers?
As you might expect, residents of the Golden State care more about environmental issues than those who live in other parts of the country. In fact, California homebuyers are willing to pay almost 10 percent more for an energy-efficient home.
According to recent studies, this increased perception of value comes from the livability, comfort and health of a green home, but especially from the reduced impact on the environment that an energy-efficient home provides.
However, California homebuyers also are financially savvy, and the cost savings on the monthly power bills can make a huge difference in the family budget. And that’s why buyers are willing to pay more for homes with these upgrades.
Green Renovations Offer a Hefty Return on Investment
The NAR’s annual Remodeling Impact Report reflects this trend, demonstrating that energy-saving renovations virtually pay for themselves when you sell your home.
For example, upgrading your home’s insulation will result in significant savings in your electricity costs. When you sell your home, the NAR estimates you will recover more than 90 percent of your investment in upgraded insulation.
New roofing almost always pays for itself at sale, but new energy-efficient roofing pays you too, to the tune of 105 percent return on investment.
Other upgrades attractive to California homebuyers are energy-efficient appliances and HVAC systems, lighting fixtures designed to save energy and reduce operating costs, and landscape features that emphasize environmentally conscious design.
Should You Remodel Your Home Before Selling?
Every home is different, and every homeowner is constrained by time and budget concerns. Whether you should consider upgrading your home to boost energy savings depends on several factors.
If you have the capacity to take on a few renovations or upgrades, do consider making them as environmentally friendly as possible. This will save you money in the meantime and provide a better return when you sell your home.
If your home is an energy vacuum, however, expect California homebuyers to turn up their noses at its lack of energy efficiency. It may take longer to sell, and you may be faced with a string of lowball offers, as buyers will consider the cost and effort of undertaking these green renovations on their own.
Before you invest in any renovations, consider calling the experienced Realtors® of the Edie Israel Team first. We have up-to-date knowledge of the features that are most in demand, and we can help you prioritize those upgrades that will provide you with the highest sales price in the least amount of time.
If you’re thinking of selling your home, call the Edie Israel Team, because we know exactly what California homebuyers are looking for today.