How Eco-Friendly Features Can Boost Your Home’s Value

Selling your house? Or just looking to increase the value and appeal of your home for when you do? Here’s something you should know – homebuyers are increasingly looking for homes with environmentally friendly features.

What Energy Efficient Features Do Buyers Want?
According to recent data from the National Association of Realtors (NAR), when buyers think about eco-friendly features, they’re looking for (see visual below):

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Heating and cooling costs: 82% of buyers consider heating and cooling costs to be one of the most important factors when looking for a home. And efficient heating and cooling systems with programmable thermostats can significantly lower monthly energy bills.
Windows and doors with proper insulation: These help maintain comfortable indoor temperatures without overworking the HVAC system, which turns into saving on energy bills.
Energy-efficient lighting and appliances: These can save money on utility bills and reduce a home’s overall energy use too.
Commuting costs and environmentally friendly community features: Living in a community designed with energy-saving amenities and shorter commutes can reduce expenses and environmental impact.
Landscaping for energy conservation: Strategically placed trees and shrubs can lower cooling costs in the summer.
Solar panels: Solar panels can also provide long-term savings and are an attractive feature for eco-conscious buyers.
The common theme? Environmentally friendly features are popular with buyers because they help them save money and make homes more comfortable to live in. But making some of these updates before you sell your house doesn’t just benefit buyers – it’s worthwhile for you too.

How Green Features Benefit You
If your appliances or systems are aging, upgrading them now means you can enjoy the savings and comfort while you’re still living in the home.

The U.S. Department of Energy has introduced Home Energy Rebates, which can provide households with up to $14,000 in savings on energy-efficient upgrades. This includes insulation, duct sealing, heat pumps, and more. These rebates make it more affordable than ever to improve your home’s efficiency.

Then, when you decide to sell, you’ll reap the rewards again. Energy-efficient homes stand out in a competitive market and appeal to the growing group of environmentally conscious buyers.

Studies also show that homes with energy-efficient upgrades, like those with high-efficiency HVAC systems or modern insulation, are more desirable for buyers- and they generally net a higher price. Research from Freddie Mac found that homes with high energy-efficiency ratings sold for 2.7% more on average than homes without these upgrades.

Work with a Real Estate Agent to Maximize Value
Not sure which upgrades to prioritize? That’s where a local real estate agent comes in. They can help you identify the eco-friendly features that buyers in your area value most. Whether it’s adding Energy Star appliances or improving insulation, they’ll guide you in making the best choices for your house and your budget.

Bottom Line
Making environmentally friendly upgrades can pay off in more ways than one. You can enjoy saving on energy bills and improved comfort now. Additionally, you’ll have the satisfaction of knowing you’re contributing to a more sustainable future while adding value to your home. Ready to learn more about how you can make your house stand out? Let’s connect.

Winter Buyer and Seller Guides are Hot Off the Press

Are you thinking about buying or selling a home this winter? Kim Pelham and The Pelham Group Northwest have you covered with our brand-new Winter Buyer and Seller Guides!

These guides are packed with the latest insights, market trends, and tips to help you navigate the unique opportunities and challenges of the winter real estate market. Whether you’re ready to make a move or just starting to explore your options, these guides will give you the knowledge you need to succeed.

Click to view our Winter Buyer’s Guide today!

Winter Buyer’s Guide

Click to view our Winter Seller’s Guide today!

Winter Seller Guide

Market Insights: Snohomish, King, and Pierce Counties

November 2024 brought the anticipated seasonal slowdown in the real estate market, but the numbers for Snohomish, King, and Pierce Counties reveal important trends for buyers, sellers, and investors. Here’s what the latest data tells us about these dynamic markets.

Active Listings: A Year-Over-Year Surge

Although active listings decreased in November compared to October, year-over-year trends show a significant improvement. King, Snohomish, and Pierce Counties have experienced healthier inventory levels than this time last year. For buyers, this means more options to consider, even as the seasonal market slowdown takes hold.

Closed Sales: A Strong Recovery

In these three counties, closed sales have shown remarkable growth compared to November 2023. The recovery signals sustained buyer interest despite the cooler months. With King County leading in transaction volume, Snohomish and Pierce Counties also showed robust activity, reflecting their appeal to a wide range of homebuyers.

Prices: Regional Growth and Affordability Challenges

King County recorded a median sales price of $837,350, underscoring its reputation as a hub for tech professionals and urban living. Snohomish County’s median price reached $760,000, making it a prime choice for those seeking a balance of value and proximity to employment centers. Pierce County, with comparatively lower prices, continues to attract first-time buyers and those looking for more affordable options.

While prices have grown in all three counties, ongoing affordability challenges highlight the importance of strategic planning for buyers. Legislative changes aimed at increasing housing density and promoting accessory dwelling units (ADUs) are anticipated to help ease pricing pressures over time.

What Does This Mean for You?

  • For Buyers: More inventory means better opportunities, but rising prices may require careful budgeting and loan pre-approval.
  • For Sellers: The strong buyer demand, coupled with limited supply in certain areas, makes this a favorable time to list.
  • For Investors: The upward trajectory of sales and prices in these counties presents solid opportunities for long-term investments in residential real estate.

Looking Ahead

Legislative efforts to increase housing supply in Washington state promise to shape the future of the real estate market in Snohomish, King, and Pierce Counties. For now, understanding these local market dynamics will be critical to making informed decisions in this competitive environment.

For tailored advice and insights, trust Kim Pelham and The Pelham Group Northwest to guide you through the ever-evolving real estate landscape.