Energy-efficiency is incredibly important for the health of our environment, and with energy prices rising, more residents aim to save money on monthly utility bills. If you own a home or apartment building, you can take control and incorporate some green updates to boost property value. You’ll be able to sell for a higher price or charge a higher rent, so you’ll get your money back in no time.
Harness the Sun’s Power
It’s no secret that solar panels are an incredible way to use renewable energy and decrease our carbon footprints. Installing solar panels may be an expensive investment, but you will save money in several ways to compensate over time.
First, your monthly energy bill will decrease significantly, and some states will even compensate you for generating extra energy and selling it back to the grid. Often times, this is the same compensation price as they would have charged you to use that energy. You can also take advantage of federal tax deductions, lump-sum rebates, and partial reimbursement for solar panels, depend on where you live.
Solar panels will boost your home’s value significantly, but luckily, most states won’t charge you that additional property tax!
Control Your Airflow
Your windows might actually be working against you. Single-pane or poorly insulated windows may release or let in cold air and heat. So when you don’t feel like the heater is working in the winter, you might crank it up higher. With better window options, you can eliminate this problem, add value to your home, and decrease your utility bills.
Installing Energy Star windows could save you an average of 12% on your utility costs per year. These green windows are mostly double- and triple-pane windows that rely on multiple sheets of glass to seal in air and improve the effectiveness of A/C and heating units. Low-emissivity coatings cut back on harmful chemical emissions and improve heat conservation. Certain states will also provide financial incentives for this switch, like the Energy Star tax credit. With perks like these, your home’s value will increase, and homebuyers will be more inclined to purchase or rent your property.
Light Up Your Potential
Lighting plays a huge part in staging and showing your home when it’s on the market, but you can do even more with lighting to boost your property value. The government’s energy website highlights a few options to save some bucks.
Ditch the light switches and go for dimmers, motion-sensors, or timer controls—a favorite of ours here at Modernize. These options allow you to set lighting schedules, so that you’re not wasting energy when you aren’t home or when you forget to turn off the lights. Motion-sensor lights only stay on when someone is in the room, and they turn off after a period of no occupancy. If you pair them with eco-friendly light bulb options, you’ll have another great selling feature to boost your property value.
These are just a few green updates that can significantly increase your selling price. Have fun converting your home into an eco-friendly habitat!