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20 April 2009
Posted in
Spring Renovations: Go Green!
Spacious, aesthetically appealing kitchens and baths used to be the key to success in home selling. Gleaming counter tops and sparkling vanities were sure to peek buyers’ interest. However, today’s buyers are increasingly more interested in the long term expenses associated with operating a home than its attractive finishes. Energy efficiency is quickly becoming the new number one home selling feature. Home sellers must be able to communicate their home’s efficiency in order to appeal to the new energy conscious home buyer and maximize the return on their investment.
The ecoEnergy Retrofit Program
Natural Resources Canada has developed a program that helps home owners with the cost of energy efficient renovations. This system, otherwise known as the ecoEnergy Retrofit program, also standardized systems by which home buyers can identify a home’s energy efficiency.
The ecoEnergy Retrofit program rates a home with a number between 1 and 100. It offers grant monies to home owners to improve this rating. Since 73% of home buyers in a recent survey indicated that energy efficiency was either important or very important on their shopping checklist, taking the government up on their offer is just good sense for any homeowner planning renovations!
The Assessment Process
Here are some of the steps:
- First, an existing home needs to be assessed by a certified energy auditor and given a base rating.
- Then, a report is issued to the home owner outlining the renovations that would improve this rating the most, as well as the grant amount the government would provide toward the cost of such improvements.
- In conjunction with provincial organizations, there is a total potential of $6500 in grant monies available for each property.
- Once the renovations are completed, the auditor returns, reassesses the home and gives it a new rating.
- Then, the auditor certifies the home owner’s application for the grant rebate.
These ratings are meant to be prominently displayed on a home’s electrical panel, providing an excellent visible indicator to future buyers of a home’s energy efficiency. However, the effectiveness of this system will be lost if your Realtor is not knowledgeable about the program, and cannot accurately articulate the benefits of a high rating.
Be Able to Articulate Your Energy Efficiency Benefits
It is essential that you hire a Realtor that can speak on these programs and communicate your home’s energy efficient features and benefits. Often times, they are speking on your behalf to the potential buyer of your home. Therefore, being able to properly explain the positive effect on the said buyer’s pocketbook and how compares with other homes they may be looking at is definitely a strength.
Cosmetic touches won’t be enough when it comes to selling homes in today’s market. Energy efficiency is the new top draw for home buyers nowadays. In order to attract today’s green savvy buyer, renovate your property to stand out from the rest. Focus on the elements that will positively impact your energy efficiency like windows, doors and seals, insulation, mechanical and electrical systems, and more.
But most importantly, hire a Realtor who can effectively convey the benefits of your rating, and manage access to government grants and incentives for your prospective buyer. It could mean the difference between languishing unsold on the market or a quick sale for top dollar.
Jan MacAuley, Broker & Founder of Healthful Homes Realty Inc.
Jan MacAuley is a broker and the founder of Healthful Homes Realty Inc., a full service Real Estate brokerage dedicated to helping home owners go green in Nova Scotia.
Healthful Homes Realty is recognized as the real estate brokerage of choice for customers committed to the purchase or sale of a greener, healthier home. We offer ecoEnergy Audits to our clients as part of our unique service packages. Healthful Homes Realty believes that every home can be a green, healthful home, and we endeavour to be an invaluable resource to all who are interested in living green. As an example of our commitment to greener living, Healthful Homes donates $100 from each transaction to the Ecology Action Centre.
In addition to conventional agency home search, evaluation, and negotiation services, Healthful Homes Realty provides valuable services that can result in thousands of dollars in grants and energy savings for the home buyer. Healthful Homes Realty also offers specialized knowledge and unique marketing services in order to effectively promote ultra efficient homes that may utilize green technologies. Please visit our website to review our service packages, as well as get other useful tips on living green from our regularly updated and local Resources page.
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