My wife and I are considering selling our current home and building a new home. Note that “considering” is the key word and we are very early into the conversation. However, I was wondering what is the value of getting a HERS evaluation on my current home to use as 1) an assessment to identify weak points in the current efficiency/energy use systems and 2) use as a selling tool for prospective buyers?
Also, what is the timeframe for conducting such a HERS assessment and the costs?
Good question and one that I wish more sellers would ask.
Time Frame: Two Visits Required
- One to three hours for interview and diagnosis.
- Recommendations made.
- An hour of so to return and measure the results of the repairs made per recommendations.
Cost: Full energy audit with report of duck leakage, whole house air infiltration evaluation and recommendations to improve if applicable = $450.00. Often times the cost to repair/improve is less than $350.00 (handyman with average skills). Total cost…approximately $800.00 (+ -). The savings and cost to repair will vary based on the quality of construction and the age and condition of your HVAC equipment, water heater, insulation, windows and appliances.
Why consider: Statistics show that lowering home energy usage directly improves value. This notion is supported by Fannie Mae, Freddie Mac, ENERGY STAR, FHA and VA financing instruments. When you increase the value through energy savings the increase is recognized in the new loan. A potential buyer will consider cost to operate the home, but only if informed. Information and education is the key to using the homes energy consumption as a sales marketing tool.
As evidence of the savings a prudent seller should consider creating solid data prior to beginning the sales/marketing efforts. I suggest that you learn where your greatest opportunity for savings is located by diagnosing your usage. You might be surprised at how little time and effort it takes to improve your home’s efficiency and value.
Selling Points: Improved marketability, improved comfort and indoor air quality, lower energy cost lead to lower cost of ownership and less maintenance.
Let me know if I can answer any other questions or help you in any way…