The cost of energy for homeowners can be significant, with average annual costs ranging from $2,300 for heating to $1,800 for electricity. Energy-efficient upgrades and weatherization can help reduce these costs, but the investment must be weighed against the long-term return and potential added value to the home. The article highlights the benefits of solar panels, heat pumps, energy-efficient appliances, and weatherization in increasing a home’s value. Solar panels, for example, can boost a home’s value by 6.8% to 9.3%, translating to a $25,000 premium. Heat pumps can add up to $17,000 to a home’s value, while energy-efficient appliances may not add direct value but can remove a negotiation point. Weatherization can provide the largest return on investment by addressing issues that buyers will flag during the inspection process. The article also notes that property taxes may not increase as a result of energy improvements, with the exception of solar panels, which can be a gray area. The article concludes by highlighting the importance of communicating energy-efficient upgrades to real estate agents to showcase the long-term savings for potential buyers.
Boosting Your Home’s Value: How Energy Improvements Pay Off with Michael Nadeau
