An eco-friendly tip to boost your property value

Fact: energy-efficient homes generally attract premium prices and sell faster than non-eco listings.

According to the 2022 Domain Sustainability in Property Report, energy-efficient houses in the median range sell, on average, for $125,000 (+17.1%) more than the rest. This is also the case for apartments, which usually increase their value by $72,750 more (+12.7%).

Online users are definitely leaning towards eco-friendly properties: web listings with popular sustainable features attract 8.7% more views on average. Researchers came to this conclusion given that more than half of all for sale listings in all states and territories contain energy-efficient keywords.

Popular eco-features

Based on keyword search, these are the top three installations potential online buyers are most focused on:

• Solar panels: according to Geoscience Australia, our country receives an average of 58 million PJ of solar radiation per year, approximately 10,000 times larger than its total energy consumption. The 2020 Origin Energy survey shows that 77% of Aussies believe houses with solar energy are more valuable. The same report proved that 55% of renters would rather pay more rent for solar panels.
• Water tanks: just as above, rain has been pretty generous for the past couple of years (dangerously generous). Given than utilities are also on the rise, houses sitting on big gardens or lawns should take advantage of this feature. When -and if-  the dry season hits, you’ll be prepared with free, nutrient-dense rainwater to lavish on your garden.
• Insulation and glazing: window glazing and insulation can help stop your heating and cooling efforts from leaching out. You’ll also reduce the summer heat and winter chill invading your home.

How do you pay for an eco-friendly reno?

Fortunately, there is a wide range of lenders offering green loans, usually with lower interest rates in an effort to encourage sustainability.

A different option is to unlock the equity in your home to fund your eco reno. Thanks to a price increase of 23.7% in 2021, refinancing your loan could mean that, if you are up to date with your payments and your personal circumstances are the right ones, you could unlock quite a bit of money in equity to help fund a deposit for your renovations.

And don’t forget to keep an aye out for government rebates available for eco installations!

If you need help navigating through loans, equity and financing, contact us today. Our HPartners team can help you make the best decisions to boost your property value.