Media: What will new energy disclosure rules mean for home prices? (Southwest Journal)
Apr 23, 2019
Residential Program Development Manager Isaac Smith spoke to Southwest Journal about potential impacts of Minneapolis's new energy disclosure rule on home owners and sellers.
From the Southwest Journal:
Climate advocates are hoping to use the competitiveness of Minneapolis’ housing market to the environment’s advantage.
That’s because multiple studies suggest that the more energy-efficient upgrades homeowners put into their houses, the more their homes are worth. In 2017, for example, the federal Department of Energy found that homes with high-efficiency upgrades sell for 2% to 6% more than the average home. That translates to an extra $3,500 to $9,000 per house...
But for Isaac Smith, a residential program development manager at the Minneapolis-based Center for Energy and the Environment, the extra value that high-efficiency homes bring is a good thing for homeowners in both the short and long haul.
“Yes, you save money on the energy bills,” Smith said. “But when you go to sell your home, you’ll get more money for it, too.”
Smith is hoping that new pre-sale inspection requirements from the city targeting home energy use will help this phenomenon grow in Minneapolis...
Read the full article at the Southwest Journal