Are you wondering if energy efficiency ratings do anything to increase the value of your home? Well making the switch to solar power and other ways to reduce your homes utility bills has been proven to make strong economic sense. It will not only reduce your own cost of living while you own it, but it will also be passed along in the value that potential buyers place on your home at sale as well.
A recent study in the United States of America showed that green homes sell faster, and for more money, with an average 8% to 30% increase in value. This data is also reflected in the Australian real estate market and more home buyers are considering the green star rating of a home rather than pure cosmetic appeal.
For Home Owners
If you want to increase the value of your home before selling it then you can start today by installing rooftop solar panels and solar hot water systems. The combination of the two systems is a proven way to increase the green start rating of your home, greatly reduce the household electricity bills, and make significant cuts to your carbon footprints.
Not only will you increase the resale value of your home, but the benefits of a solar PV system is that itimmediately starts to pay for itself from its first of operation; the only home improvement to do so. Purchase the largest system that you can fit onto your roof for the best financial return; what value would you place on a home that can honestly say that it has no electricity bill with normal usage for the next 20 years?
For Home Buyers
If you are planning to buy your dream home which is energy efficient and will keep your ongoing utility cost low then you should remember these key points to look out for;
1. Be sure to check what environmental features that the home has in place (the government is expected to introduce a star rating system next year which will make this clear and easy to understand).
2. Check if the solar panel system is eligible for your state feed in tariff and if it has been qualified.
3. Hire a professional electrician to check the electrical works of the solar power system to prevent any hazard to your family.
4. Check if the system has a smart meter incorporated to it and if it is still functioning well.
5. For of grid systems, be sure to inspect the battery pack thoroughly and estimate how long it will still last.
6. For solar how water systems, inspect the collecting ducts for any debris and the water storage tank for sanitary purposes.
With the costs of electricity and water continuing to increase rapidly there is no doubt that reducing the cost of living is of great concern to most families as well as how to reduce their carbon footprint & do their part to help reduce the effects of global warming. So for many reasons, and with real financial gains to be had as well, most people are looking to live in a home that is as ‘green’ as possible……..is yours?
Added value: $30,000-plus.
Kell says according to an Australian Bureau of Statistics study, greening your house adds far more value than initial outlay.
The report estimated that on a 10-star rating basis, every star the house went up in energy efficiency it added 3 per cent in value.
House energy rating is done through the Nationwide House Energy Rating Scheme (NatHERS) which uses computer simulations to assess the potential thermal comfort of Australian homes on a scale of zero to 10 stars. The more stars, the less likely the occupants need cooling or heating to stay comfortable.
What is rated?
A dwelling can be rated before or after it is built. The rating depends on:
- the layout of the home
- the construction of its roof, walls, windows and floor
- the orientation of windows and shading to the sun's path and local breezes
- how well these suit the local climate.
Note that energy consumption by hot water systems, lights or household appliances is not part of the rating because those fittings are usually replaced several times during the life of the building.
What the stars mean
- Zero stars means the building shell does practically nothing to reduce the discomfort of hot or cold weather.
- A 5 star rating indicates good, but not outstanding, thermal performance.
- Occupants of a 10 star home are unlikely to need any artificial cooling or heating.
Typical ratings
Houses built in 1990 averaged about 1 star on the NatHERS(National House Energy Rating )scale. Before the introduction of national energy efficiency regulations for houses in 2003, less than one per cent of Australian houses achieved 5 stars.
Many well designed houses are now being built above 6 stars or more,
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