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Adding Value to Your Home with Eco-Friendly Investments
‘You never get a second chance to make a good first impression’
This is especially true in the world of real estate where buyers are often turned off by properties in disarray. This is particularly true of the home’s exterior features. Unattractive landscaping, fencing, driveways, walls and roofs can kill a sale before the buyer has stepped foot on the property. Many real estate agents consider a property’s exterior a make or break feature in a sale. Buyers will often avoid a property with an ugly exterior, even if it means forgoing a palatial home on the inside.
And when it comes to upgrading the exterior of your property, where do you begin? Fortunately, there are many cost-effective improvements that can be made to bolster the value of your home. Most homeowners seeking to improve their properties have a modest budget. If possible, it is best to avoid contractors since their services come at a premium.
Once work commences on the outside of the property, it has minimal disruptive effect for the homeowners on the inside. Exterior improvements to a property include lawn work, firepits, decks, patios, paving, painting, fencing and other eco-friendly upgrades. The best part of eco-friendly upgrades is that they add value to your property.
What are the best outdoor elements to add to your property?
A patio or an outside deck is one of the most exciting features to add to a home. Well-manicured lawns and gorgeous landscaping are one thing, but a beautiful outside deck can do wonders to the value of your property. Homes with patios are designed for entertainment purposes, and they are associated with a generous return on investment.
In states like California, Oregon, Washington and Alaska, most homes have patios and outside decks. Decks are elevated constructions, and a little costlier. However, the average value that a deck adds to a home is slightly more than the average cost (106% of the cost recuperated) compared to the average cost of a patio and the value added to the home (102% of the cost recuperated).
The Real Appeal of Solar Energy
Solar panels are all the rage. At a time when everyone is focused on eco-friendly solutions to everyday living, nothing beats solar panels in terms of value-added benefits. Buyers look beyond the aesthetics of solar panels into the dollars and cents that they will be saving over the long-term.
Solar panels are guaranteed to yield positive returns over a property’s lifetime. Solar panels have a higher upfront cost, but that is easily recouped over the lifetime of the asset. Many solar companies also allow monthly instalments to be paid, making it easier and more affordable to install these eco-friendly solutions in your home.
By the time you’re ready to sell your home, you will be pleased to know that buyers are prepared to pay upwards of $15,000 more for a home powered by solar energy. Plus, there are many other benefits to installing solar panels in your home, including federal tax credits and state incentives designed to reduce the costs of installation.
On average, the installation costs of solar panels can be as low as $8,467. For a 3.6 kW solar panel system, you may invest $8,467 and have $15,000 of value added to your home, for 177% of your cost returned.
