You will very likely have seen a lot of media focus on green energy and living in a more sustainable way. This generally means making adjustments to your lifestyle, but you might be reluctant to make adjustments that will cost you a lot and have an unknown effect on your property valuation.
The truth is though that some relatively small investments can give you a huge return when it comes to selling your property. The main reasons for this are:
- Investing in green energy adds physically to the capital asset of your property
- Well-chosen energy efficiency upgrades lower the running costs of your property
- Buyers are becoming more interested in energy specifications when comparing properties
So what exactly are well-chosen energy upgrades that will improve your property valuations? Let’s take a look at the two most obvious ones.
With an average of 286 sunny or partly sunny days, Sydney is an ideal location for you to install solar panels. The more sunshine you get the more energy you can produce.
The trick is down to figuring out what kind of panels you should install. There are two very different types to consider.
Firstly, there is the solar water heater. These function by transferring the heat from the panel into your water tank that stores hot water. This is ideal if you have a large household where lots of people take daily showers and there is a lot of washing up to do.
The second option you have is solar electricity generating panels. These are particularly beneficial in summer months when your air conditioning is used a lot. However, these types of panels often work out a bit more expensive.
Investing in good insulation can save you a ton of money in heating and cooling costs. The less heat exchange that takes place between the inside of your property and outside, the less you will have to spend to heat and cool it.
These days there are a lot of new technologies available, and you don’t have to spend a fortune to make a significant difference. Some very common options are rolled insulation bats in the attic, or internal wall insulation slabs. Both options are extremely effective when it comes to improving the energy efficiency of your home.
The Benefit To Valuations
Once you have installed such energy efficient solutions you will be in a position to list those as key selling points. And that allows you to justifiably increase your asking price.
First of all, there is the cost of the upgrades, but also the inconvenience of having to get them installed. For many buyers it is a big positive that they could move in and not have to spend money and time on making such improvements.
Secondly, you will be able to highlight how much energy you are actually saving compared to before the upgrades. For these purposes it is ideal to keep track of old energy bills. That way you can demonstrate what the actual Dollar benefit is compared to before the upgrades.