Eco-Friendly Features Can Speed Along Home Sales and Boost Value
Homes equipped with eco-friendly features can sell at a much faster rate and for a much higher price than similar homes on the market without sustainable amenities, Zillow reports. Homes with charging stations for electric vehicles and drought-resistant landscaping can sell over nine days faster than other homes, while protective features like hurricane shutters or stilts can help homes sell for 2.4% more than expected.
As the consequences of climate change become more severe across the globe, homebuyers are taking climate emergencies and regional weather patterns into account when making home purchase decisions. As a result, competition for weather-resistant and energy efficient homes is growing nationwide, particularly in high-risk areas like coastal states and wildfire hotspots.
Listings that mention hurricane or storm shutters can sell for 1.4% more than similar homes. Homes on stilts or piers, built to defend against flooding, can sell for 1.1% more. Homes that have undergone seismic retrofitting to make them more resistant to earthquakes can sell 19 days faster than similar homes, the largest days-on-market boost of all the features studied. Storm or tornado shelters contribute to a home selling about a day faster than expected.
Features that reduce monthly energy bills can help a home sell faster and, sometimes, for more money. Homes with listing descriptions that mention double-pane windows can sell a week faster than similar homes and for 1% more than expected. Homes with solar panels can sell for 1.4% more.