Have you been thinking about doing a sustainable renovation on your home? Or perhaps you’re looking at building a brand-new sustainable home?
Did you know that homes with sustainability features are in high demand and often sell for more on the real estate market?
That’s a triple win, right? Not only are you doing the right thing for the environment, but you also save money on your regular running costs while you live there – and you end up with extra money in your pocket when you sell your home.
More and more people are making the switch to sustainable living which means more and more people are looking for energy-efficient and environmentally friendly elements when they search for a new home.
A study conducted back in 2018 found that homes with sustainability features sold on average 13 days quicker and the median sale price was 10 per cent higher than properties without such features. This study was a result of three years work through the Australia Research Council Linkage project by PRDnationwide in collaboration with Queensland University of Technology (QUT), Karlsruhe Institute of Technology Germany, and other industry partners.
So if you are trying to maximise your resale value, what are people looking for?
I’ve pulled together the top 6 ways to increase the value of your home by adding sustainability features.
1. Solar panels – This seems to have become almost an expectation by a lot of buyers. People want to save on utility bills?
2. Rainwater tanks – Using rainwater tanks to water the garden used to be the main consideration for most homeowners, however this has now expanded to include using rainwater inside the home for example in the laundry, flushing toilets and increasingly in kitchens and bathrooms.
3. Improved comfort – Insulation and air tightness has become a growing interest from consumers looking for ways to make their homes warmer in winter and cooler in summer. Who wants to spend a fortune on heating and cooling costs?
4. Low maintenance living – Not many people are interested in spending their weekends up a ladder to upkeep their home, particularly as they age, so using highly durable materials is a big bonus.
5. Giving up gas – The rapid growth in Facebook groups like My Efficient Electric Home are testament to the rising popularity in the idea of an all-electric home powered by rooftop solar panels. Consider looking for gas-free alternatives like induction cooktops in your home.
6. Sustainable materials – Natural materials are mentioned in real estate ads as a valuable addition to a home, with buyers willing to pay more for them. Think solid timber flooring over vinyl planks or natural stone benchtop over a laminate lookalike. Also, like reading our food or skincare labels, there is growing popularity in understanding what we are buying and whether it is environmentally friendly or ethically produced.
Is there anything from this list that you could add to your home? Or is there anything which should be added to the list? Let me know in the comments below.