Increase the Selling Price of Your Home – Make it Power Smart

By Kari Kylo, BC Hydro Power Smart

Making your house more energy efficient will create a more comfortable home to live in and make it more environmentally friendly. It will also reduce your energy bills, and could increase the value of your home when you put it on the market.

Studies, with statistically significant findings, done in both Australia and the Unites States in 2005 and 2009 respectively, concluded that certified energy efficient homes are in fact worth more; as much as 10 per cent more. When surveyed, U.S. residents stated that they value the sustainable attributes of their homes, particularly energy efficiency and improved indoor air quality. The residents also agreed that they would pay more in order to continue to live in a sustainable home.

This is great news if you are a homeowner in BC who is considering renovating your home and making some energy efficient upgrades. Not only will the Power Smart upgrades increase the coziness of your house, but it may also increase its value.

You can find out how to maximize your home’s energy efficiency by hiring a Certified Energy Advisor to conduct a full home energy evaluation. A Energy Advisor will recommend the areas of your house that need upgrading in order to obtain the highest possible Energuide rating. They will also inform you about the government rebates that you are eligible for.

Another benefit of selling an upgraded energy efficient home is that customers who purchase a Power Smart home may be eligible for a 10 per cent refund on their mortgage loan insurance premium from the Canada Mortgage and Housing Corporation (CMHC).

Once you have upgraded and retrofitted your home, you may decide you don’t want to sell it anymore; however, if you do sell it, there is a good chance you can ask a higher price. Buyers are not only paying attention to a home’s aesthetics, but also to its overall comfort, energy efficiency and impact on the environment.

To read more about BC Hydro’s Power Smart residential programs, visit www.bchydro.com/powersmart.