April does not have to be Earth Month for each of us to be aware of the importance of living a sustainable, environmentally friendly lifestyle. That includes embracing this intentional way of life around the home.
It’s even more true when using “green” features to sell a home. Fun fact: When comparing the overall median sales price of a home sold in Western Washington in 2023, the Northwest Multiple Listing Service reported residential properties with a green certification sold for 20% more – $740K vs. the non-certified home sale of $591K. Wow!
“Well-designed energy-efficient homes save money and are proven to appreciate in value beyond market norms,” says Jason Boyer, an architect who recently developed a smart-home community in Phoenix called Karma.
Homeowners typically keep it simple at first and focus on one or two areas to save money and build a return on investment. They can include:
- Energy Efficiency: Beginning with cost savings in the home, such as LED lighting, energy-efficient appliances and smart thermostats;
- Water Conservation: Installing low-flow fixtures and rainwater harvesting systems can help lower utility bills;
- Sustainable Materials: Using sustainable materials for renovations, such as bamboo flooring or recycled countertops;
- Solar Panels: Taking it to a new level, installing solar panels to reduce electricity bills in the long term can significantly lower a home’s carbon footprint.
The home improvement site Angi asked homeowners about their major investment plans for the next five years. The survey showed one in three owners is considering solar panel installation and a quarter are planning a heating and cooling system upgrade.
New building codes aimed at enhancing energy efficiency and reducing household energy consumption have also had an impact on market transformation. It also helps owners to seek out government incentives to lower project costs. For example:
- 30% back for the cost of many clean energy upgrades to the home, including solar panels, water heaters and battery storage, no matter the price;
- Up to $1,200 to add insulation, install new exterior windows and doors or other improvements that increase the energy efficiency of your home;
- Up to $2,000 for a new heat pump, as well as a heat-pump water heater;
- And, 30% off the cost of installing a new electric vehicle (EV) charger if you live in a rural or underserved community.
That’s in addition to up to $7,500 in savings at the point of sale when purchasing a new EV and up to $4,000 for a used one. You’ll be able to get these credits at your car dealership, which means the discount will come right off the sticker price.
Investing in green features in the home isn’t just about saving money – it’s about making a positive impact on the environment and boosting the property’s value. Whether it’s through energy-efficient appliances, water-saving fixtures or solar panels, the choices you make today can lead to a more sustainable future for all.
RESOURCES
Here is a full list of federal benefits available to best help with upgrades to the home.
Learn more about the potential financial aid homeowners can receive to create energy-efficient homes.
See how you can get your free Smart-Home Technology starter guide.
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This is the first installment in a four-part series for Earth Month. Other stories published later:
Navigating Carbon-Free Living: Insights for King County Residents