Increase the Value of Your Home and Save Money by Using Energy Efficient Appliances.
By Stephanie Sylvester @Modernize
Energy efficient (Energy Star) appliances save money, are better for the environment, and will increase your home’s resale value. When updating a kitchen, remember that while the style that appeals to you may not be a big sell for the home buyer, any feature that will save the buyer money certainly will be. At Modernize, we know that our home buying readers seek features that not only save money on energy costs, but also use less natural resources. A pivotal aspect of modern design is considering environmentally friendly features—and the best investments to increase the value of your home include appliances, lighting, and windows.
Refrigerators use more energy than most appliances in your kitchen and home. Refrigerators are usually built well and last for a long time, but it may benefit you to replace an old but functioning refrigerator for an energy-efficient model. Newer model refrigerators can use up to 75 percent less energy than an older model. Your utility bill will be greatly reduced with newer, efficient appliances, but especially with an energy-efficient refrigerator.
Choosing energy-efficient lighting fixtures is one of the less expensive ways to upgrade your existing kitchen to one that is environmentally friendly and energy-saving. Energy Star lighting fixtures feature longer lasting light while using less energy. Additional features, such as automatic shut-off and motion sensors for outdoor lighting, provide more energy savings.
Replacing windows is an expensive project, but well-worth the investment. If you plan to sell in the future, you may recoup your initial investment through your own energy savings, as well as provide an attractive feature to potential homebuyers. Upgrading windows from single pane to double pane glass will yield substantial savings over time. It’s true that Floridians will save less than residents in the bitterly cold Northeast region, but saving an extra $75 to $100 per year on your utility bill will be a great feature to point out when you decide to sell.
Invest To Sell
When I was designing kitchens for homeowners who planned to sell, I recommended basic well-constructed cabinets in neutral tones. I let them know that the pricey accessories could always be added by the new homeowner if those accessories appealed to them, but sometimes the buyer ends up removing high-priced accessories that you would utilize. With the money saved from avoiding unnecessary gadgets, the homeowner can upgrade appliances to energy-efficient models, appealing to everyone. The only thing that you know about the people who will buy your house is that they will be happy to save money.
Energy Efficient Tax Credits
A number of tax credits for residential energy efficiency have been renewed. These tax credits are available for purchases made in 2016, as well as retroactive to purchases made in 2015. ENERGY STAR products eligible for tax credits are independently certified to save energy, save money and protect the environment. Use up to 30% less energy in your home by outfitting it with ENERGY STAR products available across more than 70 categories.
Federal Income Tax Credit: 10% of cost up to $500 or a specific amount from $50-$300. You can apply for the tax credit by filing the IRS Tax Form 5695 and submit it with your taxes. Save your receipts and the Manufacturer’s Certification Statement for your records.
Looking to buy an energy-efficient house in the Tampa Bay area?
Check out our list of new construction homes for sale here!