Saving Money with Sustainable Home Upgrades

1970s photo of an 1865 house

Property owners of both residential and commercial properties know that it's becoming more critical to understand "green" features during a time of rising utility costs and changing weather conditions. When the house at the right was built, there was no electricity, no indoor plumbing for bathrooms, no telephones, maybe a water pump in the kitchen. By the time my great aunt and uncle bought it in the 1950s, there was indoor plumbing and electricity -- people had to keep up with the times and what was current then. Now, 70-plus years later, there are new features, but still, not all homes that were new in the 1950s have the most current features of a new "smart" home completed today.

Buyers want to know what cost-saving features a new home may have -- in a high-cost environment they also want economic efficiency. Many agents say their clients are evaluating environmental risk during the purpose process.

Realtors are faced with evaluating such features when assisting a seller determine a list and sale price for a property.

The National Association of Realtors 2023 REALTORS® and Sustainability Report is based on a REALTOR member survey about sustainability issues facing the industry, click on the link for a summary of that Report.

Included in the Report are what clients found important: "home features that clients listed to their agent or broker as very important included windows, doors, and siding, proximity to frequently visited places, and comfortable living space."  An important thing to know for buyers and sellers is whether or not the MLS listing a property features categories for "green" features -- in my case in Southern California and beyond, the local MLS (CRMLS) does have such categories, and are listed as: energy generation, energy efficiency, sustainability, water conservation, and walk score, power production, and green energy verification. Such features may lessen the environmental footprint and reduce monthly energy costs.

Green Home Features List for Clients in NAR 2023 Report

"The NAR survey shows that 17% of REALTORS® say a high-performance home—one with improvements made to increase health, operational efficiency and durability—saw an increase from 1% to 10% of the dollar value offered compared to a similar, non-performance home. That could equate to thousands of dollars." "What’s more, energy-efficient home projects could save homeowners up to $2,500 a year on their energy bills, according to a recent survey of 1,000 consumers conducted by Thumbtack, a home services website. For example, installing energy-efficient lighting or smart thermostats could trim yearly energy bills by up to $200 and $100, respectively, the report shows." Article by Melissa Dittman Tracy, NAR REALTOR Magazine, It's Becoming More Critical to Understand Green Features, May 3, 2023. Go to Title 24 link for more information about  energy efficiency standards in California. For more information on the features in your home, please contact me via text, email or phone!

Julia Huntsman, REALTOR, Broker | http://www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996