No one wants their property to sit on the market forever. When you're thinking of selling, you typically want a fast result. To get that quick sale, owners often renovate and take on home improvement projects. Some even lower their asking price!
But what if we said you didn't have to?
A recent survey by PRDnationwide suggests that going green is the secret to selling a home in a rush – and earning a higher profit! Could adding sustainable changes to your home be a good strategy for you? Let's take a closer look.
Why sustainable is synonymous with 'sold'
PRDnationwide examined more than 200 houses that had been purchased and successfully resold in the decade leading up to 2014. What they found was that eco-friendly properties tended to outperform homes without sustainable features.
Green properties sold up to 13 days faster and had a 10 per cent higher median sale price than their counterparts.
This doesn't come as a surprise when you consider how Australians – particularly millennials, whose buying power is climbing – prioritise sustainability in other purchases. More than two-in-three (67 per cent) of Australian consumers said they'd pay more for food products packaged in environmentally friendly/sustainable materials in a recent Nielsen survey.
With buyers looking to go green, now is the time to make your home more sustainable. PRDnationwide highlighted several advantages of adding eco-friendly renovations:
- Faster sale,
- Higher resale value,
- Higher median price,
- Better lifestyle and comfort,
- Reduced emissions and construction materials,
- Energy savings,
- More informed decision making.
Adding sustainable features to your property today
Think going green could be the secret to making that 'for sale' sign read 'SOLD'? You may be right, but before you touch that hammer – think critically about your timeframe and budget. While you may want to make sweeping renovations to your home, don't bite off more than you can chew. It's also important to be mindful of overcapitalisation.
Fortunately, there are plenty of ways to make your home more efficient and attractive to buyers. Here are some of our team's top picks:
Replace light bulbs – Replace incandescent bulbs with more efficient alternatives, such as LEDs or CFLs.
Add some curb appeal – Improving your garden won't just make your home more attractive, it could also attract buyers with a green thumb.
Install dual-flush toilets – Low-flow toilets can cut your home's water use significantly.
Buy a smart thermostat – Reduce energy consumption by regulating your home's temperature with an automated thermostat.
Replace windows and doors – Keep hot and cold air in with tight, energy efficient windows and doors. This is particularly important in older homes.
Install solar panels – Solar panels are a great way to reduce fossil fuel dependency in sunny Queensland!
Maintain your HVAC systems – Old filters and dated HVAC systems tend to consume much more energy, so give yours a check – you might find it needs to be replaced.
Take advantage of the sun – Heat your home naturally by adding large glass doors or sun-facing windows.
Keep in mind – it's not enough to make your home more sustainble, you also need to communicate these features to prospective buyers. That's where the right agent comes in.
At Ray White Surfers Paradise, our agents are here to help you make a quick and successful sale. We'll work with you to understand your property's unique selling points and be sure these are made clear in advertisements and inspections. To learn more about listing with us, reach out to them team today.