Here is an interesting quote for you...Come sale time, a green property typically appraises for 10% to 15% higher than comparable conventional homes according to Jim Amorin, vice president for the Appraisal Institute, a professional trade organization. (Smart Money, January 2008) So, obviously some appraisers do feel that there is an increased value for a green home like the one you have built but it many not have been considered by the appraiser that reviewed your home.

Take a look at this link...http://www.natresnet.org/ratings/overview/resources/appraisa… and see if it can give you any guidance or at least help you decide if you should get another opinion.

Two schools of thought: 1) The majority of the public says they want to be green and would appreciate the LEED certification. 2) Another group says that they wouldn't mind saving $150 or $200 a month on utilities but don't want to pay $50K or $100K more for the house (that's a minimum of 20 years to break even under the best of circumstances).

Another appraiser might have a different attitude than the 1st. That first appraiser might assume that LEED and other certifications push the cost of housing up and raise the bar for affordability. If all homes were required to be LEED certified you would be denying tens of thousands of Californians the chance to be able to purchase a home because they would be priced out of the market.

Why are you having it appraised? I'm assuming you built the house and plan on living in it. Are you looking to refinance and close out a construction loan? You probably know that the circumstances of the appraisal can have a significant effect on the outcome. I just had a client with a home worth $1.1M (conservatively) have his home appraised at $850K for a $400K refinance. The bank and the appraiser didn't particularly care one way or the other.

If you are selling it, why are you having it appraised? The appraisal (high or low) is now a disclosure issue for the buyer. You cannot deny you had the appraisal nor refuse to provide it to the prospective buyer(s). It is material information pertaining to the house just like any other inspection.

Sometimes the best of intentions lead to unexpected outcomes.

Mark Burns, Realtor
Coldwell Banker Premier - Top 2% Worldwide
DRE #00896552 licensed since 1985

PS And to answer your original question: A LEED certification only adds value to a home if someone is willing to pay for it. Otherwise; no.

Noelle,

Yes, for certain buyers. Some buyers desire knowing that their future home is LEED Gold certified green and there may be added value in their eyes. An appraiser may give value to some of the "green" elements of the home, but for the certification they don't give value...not yet!

Many people like the idea of a "green home." There should be many benefits, including a lower cost to operate the home.
The difficulty is there are not that many LEED certified homes, so the appraiser hasn't been able to see a trend to determine that, yes, there is a market value for that.
Unless you are selling your home, there is no reason to have the home re-appraised. Enjoy your home knowing you have done your part for the environment!