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Green your home - resi livingGreening your home:
Why 'green' is the new black when buying and selling

With a growing number of green-conscious homeowners, there’s little wonder eco-features are becoming a greater selling point when you put your house on the market.

But what exactly are the most appealing features when it comes to attracting buyers -and can those features actually add a premium onto the sale price of your property?

According to real estate expert and CEO of Raine and Horne, Angus Raine, the trend towards going green is now so common that you’ll often see a property’s eco-friendly features mentioned in advertisements as part of its key selling points.

He says: “Including them in advertising serves a dual purpose because buyers can be reassured the property complies with a council’s Green regulations and it also attracts property owners genuinely keen to do their bit for the environment.”

Raine says of the many features available for homeowners, rain tanks and solar panels are the two standouts that most attract the eye of prospective purchasers – but adds that it does very much depend on the area the property is in and the demographic being targeted.

“In particular, having rain tanks in an area which is historically known for having water restrictions can be a real plus, both when you’re selling and when you’re buying. 
 
In that instance, buyers are more confident submitting offers on water friendly properties, which include water tanks that help service and maintain water levels for in-ground swimming pools, because it will save long term on their water bill,” says Raine.

However Raine also says if a tank isn’t available, then this could potentially reduce the sale price by around $5000.

In some areas that are subject to drought, he says, many buyers will pay a premium for water-friendly gardens - but the appeal is specific to certain demographics.

While family buyers are still opting for homes with water-guzzling lawns, buyers without children are paying premiums as high as $5,000 for homes with low-water gardens. It’s very much based on the lifestyle needs of the target market,” he says.

According to Raine, homes featuring attractive well-mulched garden beds and paved areas rather than lawns can command premiums of up to $5,000.

Likewise, with the price of energy set to soar in some states, he adds that homes with solar panels or solar heated pools are inevitably going to attract more and more attention – not least for the actual dollar saving they can provide because the cost to install them has already been borne by the vendor.

Other smaller features such as environmentally friendly showerheads and taps and energy saving lights can also add to a property’s overall appeal, but may not necessarily add to its final sale price.

The best general tip for anyone looking to buy and sell in any area is to familiarise yourself with the local council’s Green requirements so you’re aware of anything that may affect the property or any future building works you assume you can carry out.

If you’re buying, you can factor this into your budget - and if you’re selling, you can determine if you’re able to take advantage of any eco-friendly features on your property to secure you a slightly better price

Resi Home Loans offers an ideal range of home loan and home mortgage products to suit your every need. To find the best home loans for you, check out our mortgage calculators and our current home loan rates today.


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