As any homeowner will tell you, the last few years have been turbulent for the real estate market. Higher interest rates coupled with a cost of living crisis have put added pressure on Australians, forcing them to think about how to make their homes as valuable as possible when they sell.
While you can make small, cosmetic changes to your property to make it more attractive to buyers, there is another factor that influences the asking price of Australian homes. And the good news is that it's a win for both the environment and the sellers.
“Going green isn’t just smart – it’s also profitable,” explains Dr. Nicola Powell, Head of Research and Business at Domain Yahoo Lifestyle. “Sustainable homes on Domain are becoming increasingly popular, with homes selling for up to $112,000 and units selling for up to $70,000 more than homes without eco-friendly features.”
RELATED:
And if you need even more convincing: environmentally friendly houses are so popular that all houses in the renovation series will be presented next year The block will be “green,” which could result in them selling at auction for a higher price.
“Solar panels, energy-efficient appliances and top-notch insulation are must-haves for savvy buyers today, and as government incentives drive this trend, more buyers are seeking long-term savings and energy independence,” says Dr. Powell.
However, for the average Australian homeowner, figuring out how to upgrade their home with more sustainable features can be overwhelming. YouGov research has found that almost half of respondents (46 percent) don't know where to start when it comes to sustainable renovations. Almost nine in ten Australian homeowners say barriers prevent them from making their homes sustainable.
This is where Green Specs comes into play – a digital resource developed by Allianz Australia and the Green Building Council of Australia (GBCA). The free tool is designed to help homeowners be more environmentally conscious, save money and increase the value of their home.
Cost-saving information for everyday homeowners
The digital destination aims to simplify the often confusing technical information about sustainable homes and make important and cost-saving information accessible to everyday homeowners (yes, please) and as geeky as it may sound, it's also fun.
With engaging images and interactive floor plans, anyone can explore how to make areas of their home more eco-friendly and cost-effective.
Better yet, you can select specific spaces and budgets, meaning it can be largely customized to your own needs and preferences.
Interestingly, research from Green Specs found that almost half (49 percent) of Australian homeowners say that while they would like to make sustainable changes to their homes, there is not enough information about how they can do it.
But with two-thirds (63 percent) of homeowners wanting to learn more about how to make their homes more sustainable, there is an interest in this knowledge – and that's where Green Specs comes into play.
According to Green Specs, changes that can help the environment and add value to your home include “positive changes” like energy efficiency, “healthy changes” like reducing harmful chemicals or emissions, and “resilient changes” like reducing risk of extremes Weather influences on your home.
How to save $3,500 a year on bills
Sydney environmentalist and lawyer Michael Mobbs can attest that making greener changes to your home not only benefits the environment, but also your bank account.
Mobbs and his family have lived partially off-grid (disconnected from the power grid and sewer) since 1996 and fully off-grid (disconnected from the electrical grid) since 2015 in order to live more sustainably.
“I pay no energy or water bills and save over $3,500 a year by using what falls freely from the sky, sun and rain,” he says Yahoo Lifestyle.
Mobbs says the most energy- and cost-efficient appliances in his home, in order of cost savings, sales price and pollution reduction, are solar water heating, shade from a vertical garden and skylights in every room.
BUSINESS:
“This means there is enough natural light for most of the day most of the year to avoid turning on electric lights,” he says.
While going completely electricity-free isn't for everyone, Mobbs believes that the more sustainable your home is, the better it is – no matter how you look at it.
“Rising energy and water costs help increase the sales value of energy and water efficient homes because the cost of housing in such homes is lower,” he says.
Dr. Powell agrees, telling us: “Homes with solar energy, battery storage and rainwater harvesting are also among Domain's top offerings, making them a smart, profitable investment.”
So if you're looking for ways to make your home more environmentally friendly, more energy efficient and ultimately more valuable, go for it Allianz's Green Specs to get you started.
Want the latest lifestyle and entertainment news? Make sure you follow us Facebook, Instagram And TikTok and don't forget to subscribe to our newsletter.