Energy efficiency brings today’s buyers

Like hybrid cars that maximize fuel efficiency with a blend of gas and electric technology, there are several opportunities inside your home to “go green” and create a similar hybrid blend of energy-efficient home systems. This is especially important when selling your home, as you will attract many energy conscious buyers. Auto fuel expenses are taking a larger bite out of families’ budgets, and higher summer home energy costs loom before us as well.

Spokane REALTORS® are seeing more consumers bring environmental wish-lists into the home buying process, not just because they will save on fuel bills, but because they believe it’s better for their family. Therefore, early in the selling process, your REALTOR® may suggest doing a home energy audit to help prioritize efficient upgrades most valued by today’s energy-aware families, and to draw their attention to YOUR home. Better insulation, energy-saving appliances, and efficient heating and cooling systems are top of mind with cost-conscious homeowners. Because energy savings is a strong sales feature, your REALTOR® will want to prominently highlight these valued upgrades in all sales marketing pieces.

Where to begin? A recommended first choice is the U.S. Department of Energy. Go to www.eere.energy.gov, and search for “home energy audit.” You will find both “do-it-yourself” and professional home energy audit information there.

Did you know that there are tax savings and purchase rebates offered by the U.S. Department of Energy for energy efficient major home appliances and home energy systems? Energy Star appliance rebate programs have been available to Spokane homeowners for several years. When you shop, you will find many appliance retailers have the necessary rebate forms on hand.

According to EPA statistics, “heating and cooling costs make up 49 percent of the average energy bill,” says Maria Vargas, spokeswoman for the EPA’s Energy Star program. “The real opportunity for people to save the most is through improved efficiency in the home,” says Vargas. “The average family spends $1,900 a year on energy bills.”

The EPA reports that smart energy choices have saved homeowners up to 30 percent of their energy expenses. If home sellers choose wisely, they can create an “energy smart” list of attractive sales attributes. More information can be found at www.energystar.gov/ and www.consumersearch.com, but here are a few energy smart appliances now available:

Air Conditioners — Energy Star room units use at least 10 percent less energy than conventional models.

Clothes Washers — if replacing, consider an Energy Star top-loader or front-loader model to cut energy and water use by over 40 percent.

Dishwashers — Energy Star dishwashers use a lot less H2O and at least 41 percent less energy than the federal minimum standard.

Refrigerators — Energy Star-qualified fridges use at least 15 percent less energy than the current federal standard. Refrigerators with top-mounted freezers use about 20 percent less energy than side-by-side models.

Water Heaters — Go tankless, and you could save 45-to-60 percent on water heating energy. Energy Star doesn’t yet certify water heaters, but new gas water heaters save major energy. Simply setting the water heater thermostat to 120 degrees F or lower provides savings as well.

You can also contact a home energy rater (HER). A HER specialist will find out how efficient your home is, and can estimate how much you’ll save by making specific improvements. To find one, you may contact the Washington State University Energy Program (360-956-2046) or e-mail Andy Gordon at GordonA@energy.wsu.edu. A home energy rating is the first step to earning an Energy Star badge of honor, which can set your home apart from hundreds of other area homes for sale. If a home qualifies, the buyer may be able to choose energy efficient mortgage financing, which can also lead to substantial savings.

Energy Efficient Mortgages, also known as EEMs, make it easier for borrowers to qualify for loans to purchase homes with specific energy-efficiency improvements. EEMs are normally used to purchase a new home. EEMs are sometimes confused with Energy Improvement Mortgages (EIMs), which are used for existing homes and allow borrowers to include the cost of energy-efficiency improvements in the mortgage without increasing the down payment. EEMs and EIMs are both sponsored by federally insured mortgage programs (FHA and VA) and the conventional secondary mortgage market (Fannie Mae and Freddie Mac). Your lender can offer information about conventional EEMs, FHA EEMs, or VA EEMs, so it’s important to know they exist and to ask for details. More details can be found at www.energystar.gov.

Finally, don’t forget about outdoor energy savings. Well thought out landscaping and water conservation measures can not only increase your home’s curb appeal, but sellers can also tout eco-friendly conservation and energy savings for a home’s lawn and landscape care. Proper tree placement can shade a home during the hot summer months. When bare in winter, those same trees bring sunlight and warmth inside. The U.S. Department of Energy estimates that, on average, landscaping for energy efficiency can provide enough energy savings to pay back your initial investment in less than 8 years.

At the local level, home sellers may directly benefit from green energy efforts with a faster sale. Buyers will appreciate lower energy bills, lower water bills, and healthier longer-lasting homes. The cumulative effect of large-scale energy savings can have enormous benefits for the community, the nation and the planet.

Houses use more than 20 percent of the nation’s energy. REALTORS® are a valued source for trends in buyer preferences and housing features that can increase energy efficiency. For many readers, it may be a new but valuable idea to consider your local REALTOR® as a knowledgeable eco-savvy resource. There are over 2,000 members of the Spokane Association of REALTORS® who list and sell new and existing homes in all price ranges, every day. Begin the dialogue. Contact a Spokane REALTOR® today for all your real estate needs.