While geothermal systems are environmentally friendly, innovative, and sustainable, can they also increase the value of the home? This is a question that many homeowners ask themselves when they consider installing an EES. If you are a homeowner who may soon install a geothermal system, SOFATH reveals in the following the reasons why many buyers are likely to pay more for a home with a geothermal system.
More buyers want green homes
When buyers start looking for homes, one of the factors they consider is how much money they will spend on maintenance. Homes with new, durable appliances and those that use less energy are more attractive to buyers. SOFATH believes that installing a geothermal system can help a homeowner save between 40 and 75% on energy consumption.
In addition, a significant number of buyers are attracted to homes that are good for the environment. This means that properties with modern appliances are in greater demand than homes with older, energy-intensive air conditioners. In this sense, SOFATH recommends that homeowners with older properties replace their older systems with innovative new technologies such as geothermal systems that dramatically reduce a home’s carbon footprint, especially since today’s buyers place much greater emphasis on green features than others.
Market Analysis
Homeowners who want to increase the value of their property by installing a geoexchange system can start by doing a market analysis, or even research in their neighbourhood, community and why not their region to get a clearer idea of the green technologies that future buyers or tenants would like to have in their homes.
Generally speaking, home values are measured by comparing similar properties in the same community. The real challenge arises when there is a large sample of geothermal homes in the same area.
Nevertheless, the point of differentiation may be the annual or monthly savings of the systems installed, since not all installations perform equally well. But a good starting point can be to compare annual savings. On average, geothermal installations save €2,250 in heating and cooling costs every year the system is in operation. So for a prospective buyer who intends to occupy his house for about 20 years, this represents a total saving of €45,000.
To find out more about the costs, savings and other benefits of geothermal energy, we recommend that you contact the company SOFATH.
