Home Buying in Scranton>Question Details

Kathy Willia…, Home Buyer in Waymart, PA

We have been making energy improvements to our home for years. Doesn't this add value? Like a metal roof, solar panels, extra insulation.

Asked by Kathy Williams, Waymart, PA Wed Jan 16, 2013

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Thanks to all that responded. We have done the usual improvements, like hardwood floors, new kitchen counter and island. It's just that when my house was appraised for refinancing it was still valued at what the house was 10 years ago without improvements added. So my take is apprasal for refi is different than selling price with appeal. I will take this under consideration when listing my home. Thanks again.
0 votes Thank Flag Link Thu Jan 17, 2013
It definitely adds value. Most improvements add value, some more than others. I live five minutes from Dunmore and can certainly make an appointment to stop by and do a walk through, at no charge, and make recommendations based on my personal experience in the real estate market in this area. Call me
at 570-498-4990 or email me at ann@castlekeyre.com at your earliest conveninece
0 votes Thank Flag Link Thu Jan 17, 2013
It definitely adds value - -but how much? To someone who cares about energy efficiency, a pretty fair amount. To someone else, not as much. I sold a property with a large windmill not once but twice and never felt buyers gave it any value at all - but, to be fair, it was not working and hadn't in years. The first owner claimed all it needed was a bearing. Yet, it I were interested in purchasing the place, I would have figured out how much I would cost me to make it functional, discount it for the unexpected, and factored that into my offer.
0 votes Thank Flag Link Thu Jan 17, 2013
Hi, They definitely add value, how much and when it's realized is the question. It's been tough for home appraisers to fihure out how to factor in these Green updates to the overall value. From what I've learned you need to stay in your home for about 8+ years to recoup the cost of some solar panels.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Thu Jan 17, 2013
Of course, everything "adds" value, pride in home ownership in all the extras you put into your home will increase your home's value. Hold onto to all your receipts! Dunmore is extremely marketable also. Let's not forget the important simple through-the-years maintenance fixes though, newer insulated windows, updated kitchens and baths, curb appeal....and the simplest and inexpensive ones--- fresh paint and super-clean house....contact me if you need a free comparative market analysis to determine current fair market value of your home, JudyCerra@verizon.net or (570) 903-5846. I am a local Realtor who is always working and current with your area's housing market! PS: At tax time Inform your accountant of these home improvements you mentioned.
0 votes Thank Flag Link Thu Jan 17, 2013
Kathy
Yes these add value, and can reduce time on maket when selling. Marketed correctly that can help you get a higher sales price also. For example instead of the same old copy we all see in the adds today you can for example advertise; "Spend your household budget on entertaining now that less goes to the local utility." or Enjoy the relaxing sound of rain on this metal roof and rest easy knowing your roof is secure for decades to come. Followed by Save Tens of Thousands over the life of your loan with the 50 year metal roof installed in 2011. You get the idea. An appraiser may not see the value in these unless you and your Realtor have the facts in black and white and market these to the customer and then to the appraiser. Best of luck. Benny Smith
0 votes Thank Flag Link Thu Jan 17, 2013
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