Does "greening" your home or property increase its property value? If so, how much? Depends on who you ask. How much would you (as a buyer) be willing to pay for a house that has quality landscaping, solar panels, energy-efficient appliances, radiant heating, etc? Do you know how to assess that value in terms we all understand...like dollar bills? Do property appraisers know how to assess that value? These are questions I have been thinking about lateley. Here's a hypothetical scenario I have been thinking about...let's say that I have greened out my home to the max but now I want to sell it. My neighbor is also selling his home but has not greened it at all. For all intents and purposes, both homes have similar specs (sq. footage, design, original purchase price, etc.). So really the only difference between the two homes is the green investment I have made. How much "more" can I ask on the sales price...over what my neighbor is asking on his home (or can I?).
Couple things to consider...it probably cost a bit more for me due to the green investment...if it cost me X dollars to make all those green upgrades...can I ask for 2X when it comes time for me to sell the home? 1.5X? X? I am interested if any of the readers have been in this situation...either as a buyer, seller, agent, etc. Obviously, there is some value associated with the reduced costs to operate the home or property (i.e, utility costs) due to the green investment, which is usually a tangible, hard number that buyers can see, understand, and justify paying a little bit more to purchase the said property. What led me to this scenario is this...if subprimes slow down the housing market and the supply of homes available for sale goes up, will a green home sell better in any given neighborhood than a home of similar qualities minus the green upgrades? Comments? Experiences?