According to the Appraisal Journal from the Appraiser’s Institute, home values increase $20 for every $1 in annual energy savings.
However, due to the economic meltdown, appraisers are running scared right now. They’re playing it safe. They may not even consider that your home has earned an ENERGY STAR rating or has added spray foam insulation or that you installed a geothermal system, solar hot water or photovoltaics because they haven’t proven to add real estate value in your market.
Here’s my answer: fight back.
Find the research and email it to them. Send them links, send them articles, send them reports, quotes and testimonials from real estate agents that say every home buyer listens intently when they understand how the house they are buying will save them money every single month for the rest of their life.
Sorry appraisers, just because you’re under pressure from the meltdown of the past three years doesn’t mean you can ignore the fact that home energy savings add value to a home. Don’t ignore this; homeowners need you to set the record straight.
posted by KDL | follow me on Twitter: newscaster
Filed under: Green, Green Building, Green Economy | Tagged: does energy savings add value to a home, financing a green home, Green Building, home appraisals for green homes, the value of energy savings |