Jump off the market faster, and at a higher price – homes with environmentally conscious features make a real estate agent’s job easier.
The biggest motivations for eco-friendly living are:
A win-win scenario for those looking to limit waste and also reduce costs. Making energy improvements can reduce utility costs by 25% on average, according to the U.S. Department of Energy.
For sellers, homes with an official energy efficiency rating also sell for 2.7% more on average, according to a Freddie Mac study. “Going green” does increase return value, but it is also a critical practice to reduce one’s carbon footprint.
Energy audits – good for the buyer, better for the seller?
In today’s climate (in all senses of the word), many home buyers are turning to homes that are more sustainable and provide protection against environmental hazards. Thus, listings with eco-friendly properties sell up to 10 days faster than equivalent listings, at a 2.4% premium, according to Zillow.
Of course, not all features are created equal. Nationwide, homes with green home features sell 10 days faster on average, and more specifically, homes with:
Potential home buyers have natural hazards on the brain as they search for a home. From today’s home buyers:
Zillow’s research is nationally focused, so it’s unlikely that any California homebuyers are thinking about tornadoes or hurricanes. However, add fire to that list and you’ll have a better picture of how California homebuyers weigh different natural hazards in their home purchases.
California homebuyers are wary of the risk of fire and earthquakes — while also aware of water conservation efforts necessitated by drought. These are the three big natural hazard considerations for California homebuyers. Thus, any home with eco-friendly features that also address these real concerns is bound to gain favor with California home buyers.
As a younger generation sweeps into the housing market, home buyers will become more and more considerate of eco-friendly attributes for their homes. Two-thirds of young adults believe climate change will affect their homes in their lifetime, according to a Zillow survey.
The energy-conscious and environmentally savvy home buyer takes center stage. As energy saving comes first, eco-friendly features are becoming more popular. In 2021, a whopping 67% of home buyers found energy-saving features extremely important in their home search. This is up from 55% two years ago.
POLL: Are your home buyers asking about eco-friendly features?
Buyers want sustainable, energy efficient housing
Since eco-friendly features are top of mind for California homebuyers, these features are all essential to include in any listing or marketing material to inform potential homebuyers or renters of the listing’s best features. See the article : Assistant Secretary Medina Travel to Fiji – United States Department of State.
While sellers should consider disclosing ecological features for their own benefit, there are also natural hazards that sellers must disclose to buyers. This includes:
Many of these environmental risks also correlate with ecological features, which means that homebuyers have a dual interest in ecological features. To capitalize on any “green” features, focus on sustainability marketing, reduced costs over time, and natural disaster protection.
Check out the National Risk Index for Natural Hazards, which identifies areas most at risk, found at the Federal Emergency Management Agency‘s website. This tool informs customers of listings in any area prone to natural hazards.
Are your customers interested in homes with eco-friendly features? Has this concern increased in recent years? Let us know about your experience in the comments below.
Word-of-the-Week: Natural Hazards
