– Crystal Vagnier – Select Group – Writer/Editor
It’s common today for homeowners to want to know how to predict their energy costs before moving in. For many buyers, a home’s energy efficiency can be the determining factor between two listings. As part of the U.S. Department of Energy’s initiative, sellers can now include a Home Energy Score in their listings. In many cities, like Portland, it is required that all sellers include Home Energy Score’s for all public listings. The benefit to this is two-fold: it offers potential buyers transparency and reliability and offers sellers credit towards their energy efficiency investments. It’s a win-win for all.
As a Realtor®, here’s what you need to know to stay informed about Home Energy Scores:
- Useful to Buyers. Homeowners want to know what they’re getting into with a new purchase. Predicting energy costs, especially with an outdated home, can be unreliable, but with a Home Energy Score there is no guessing. Buyers can feel safe in knowing what they’re getting into and how to plan for the future. In addition to knowing how to effectively plan for down the line, buyers will also receive the added benefit of receiving useful tips and ways on how to improve their home’s performance.
- Worthwhile for Sellers. It pays to be honest. Studies have shown that when a seller states their Home Energy Cost, they see 18 days less on the market and a 3 to 5% boost in a final sales price, regardless if their home wasn’t the most cost-efficient.
- Easy for the Layman. Understanding the numbering system is easy for anybody to comprehend. Scores range from 1-10. Criteria for scoring are based on the home’s physical features and climate. The most efficient home will receive a 10 and an average home will receive a 5.