Home Resale Value
Not all homes are built alike nor are they worth the same! A home that is built to save you energy is worth more in resale value then a home that isn't.
ENERGY STAR homes are more likely to have a higher resale value regardless of how long you own your home. A typical ENERGY STAR home reduces utility bills by $35 - $80 per month. Annual energy savings can average anywhere from $400 - $950 or more per year depending upon the overall square footage of the home. A recent EPA study revealed that these savings can add $8,400 to the market value of an ENERGY STAR home. This additional savings allows the homeowner to qualify for a higher mortgage with no more personal income.
The common misconception about ENERGY STAR homes is that they are more expensive to purchase. Quite the contrary...when purchasing a new home, the buyer needs to consider the entire package of expenses including the mortgage, insurance, taxes, maintenance, and utility costs. Energy Star homes are virtually maintenance free on the outside with high performance siding, trims and energy efficient vinyl windows. They are also built to higher construction standards and independently tested and verified to perform to those standards.
Most homebuilders do not have their home tested to meet any additional standards other then the local building codes, which do not require additional testing to verify the quality of construction methods used. Having your new home independently tested and verified to be an ENERGY STAR home could mean significant value compared to typical homes if you decide to sell your home.
The homeowner knows the quality of home they are purchasing when making a commitment to Built by Adams and ENERGY STAR. Not to mention, each ENERGY STAR home has a required ventilation system making the home healthier and safer for the people living in it. Although this cannot be quantified in dollar savings, but it is to be expected that living in an healthy home creates healthier people. Less trips to the doctors office and less time off from work with colds and allergies could easily double your yearly savings on utility costs alone.
Access to Preferred Financing
National and local ENERGY STAR mortgages can make it easier for home buyers to qualify for ENERGY STAR homes. In some cases, loan origination fees may be discounted along with easier loan qualification requirements. Typically a new homeowner can qualify for 3-5% more on top of the mortgage amount they are already qualified for with no additional income. The Energy Savings built into your home is considered by many lenders as income to help you qualify for the additional costs of the energy efficient improvements to the home.