Upgrading your home to make it more eco-friendly won’t just lower your carbon footprint and ease your conscience—according to new research, it will also make it more valuable. The data shows that homes with eco-friendly features such as electric vehicle chargers and double-pane windows are selling up to 10 days faster than expected.
It’s also a reminder of what to look for as a buyer or consider upgrading as a seller. According to the research, there are three key eco-friendly features that influence house sales.
The first, and most desirable, is an electric vehicle charging station. On average, homes with EV-charging capabilities sold 9.5 days faster than they were expected to, showing that buyers are aware of the changing vehicle landscape and want to make sure they are prepared for it. And with most level two electric vehicle charging stations costing between $1000 and $2500, it’s a low-cost way of making your listing stand out.
The second feature is drought-resistant landscaping which helped houses sell 9.2 days earlier than expected. Clearly, the past year or so hasn’t seen many water restrictions across Australia’s cities thanks to an unprecedented deluge of rain, but as La Niña eventually wanes, hot summers and drought conditions should be kept in mind when it comes to real estate.
Of course, succulents and cacti are great for this sort of landscaping, but in Australia, there is also a wide range of garden options you can plant if you aren’t a cacti fan. Native grasses like dianella and lomandra look great and survive anything, while South African and Mediterranean exotics also fit the bill if you want something from overseas.
The final big eco-friendly demand driver is double-glazed windows which increased the expected rate of sale by 6.9 days. This is a no-brainer for people buying in cold climates, but double-glazing actually makes houses more comfortable in raging summers as well, as the outside heat struggles to penetrate them in the same way the cold does in winter. Add in that they can lower power bills by around 20%—something that we’re all in dire need of due to the current rate of inflation—thanks to their ability to maintain your home’s temperature, and it’s clear why they are desired.
Other eco-friendly features like solar panels (which added a price premium of 1.4%), smart sprinkler systems (sold 4.9 days faster than expected) and smart lights (sold 3.6 days faster than expected) made a difference too.
And of course, combining a few of these will only make a house more prepared for the future and ultimately desirable to buyers. So if you’re looking to sell, it might be time to make some eco-investments.
Article Written by Charlie Calver
