When selling your home, an energy-efficient roof is a key factor in property valuation. Did you know that energy-efficient roofing materials can make your property stand out from the competition? While location, property condition, and looks are important, the type of roof can significantly impact your property’s value.
Buyers are more “green” than ever before. Trends in buyer demand show that homebuyers are prioritizing energy efficiency when searching for their dream home. An energy-efficient roof helps reduce your carbon footprint. However, property owners get numerous benefits from an energy-efficient home. These include lower energy costs, fewer roof repairs, and comfort.
So, do you want to boost your property value before a sale? Investing in an energy-efficient roofing system can be a game-changer. You can attract potential buyers who value sustainability, lower energy use, and fewer repair issues. Investing in a cool roof or green roof sets your property apart from the competition.
This article explores how an energy-efficient roof can be a key selling point in property valuations. You can also learn how your property can stand out in a tight real estate market.
The Rise of Eco-Conscious Homebuyers
Homebuyers are more aware of environmental issues affecting the Sunshine State. Concerns about climate change, resource protection, and a desire for “green” products drive buyer demand changes. People want to buy a home that uses eco-friendly materials that meet energy-efficiency standards. With soaring cooling costs and insurance costs in Florida, this trend makes energy-efficient roofing a key home selling point.
The Energy Information Administration reports that 90 percent of Florida homeowners use electricity for heating and cooling. Fifty-four percent of the state’s electricity is used for home energy expenses. Suffice it to say, energy savings is top concern for many.
How does this affect property values? Here are a few stats on the benefits of a roof replacement to a home’s value:
- Homes that comply with strict energy codes sell for 2.7 percent more than unrated properties
- Energy efficiency adds $8,426 to a property’s value
- Sixty-three percent of realtors say that homes that meet high energy-efficiency standards are easier to sell
Understanding Energy-Efficient Roofs
What is an energy-efficient roof? This type of roof can use reflective materials or coatings to reduce heat absorption, owering indoor temperatures. Cool roof technologies also employ insulation and proper ventilation systems to optimize thermal performance. This decreases the need for excessive air conditioning, decreasing energy expenses.
For example, energy-efficient roofing shingles have solar-reflecting granules to reflect solar energy. Or a cool roof coating can be applied to an existing roof. This type of cool roofing can reduce the roof’s temperature by up to 100°F, lowering heat transfer to the home.
Solar Roofing: Combining Sustainability with Innovation
Solar technology can integrate seamlessly into roofing systems by installing solar panels or solar roofing shingles. Photovoltaic cells within these structures convert sunlight into electricity, providing a renewable energy source for homes. This integration enhances sustainability, reduces reliance on traditional power sources, and contributes to a cleaner and greener energy landscape.
Solar panels also reflect solar radiation, contributing to a cool roof effect.
According to reports, installing solar tiles or panels can increase your home’s value by 4.1 percent, an average of $9,300. Also, homes with solar shingles or panels are 24.7 percent more likely to sell for more than the asking price.
Cost Savings: A Tangible Benefit
Many studies prove that reflecting solar heat results in significant cost savings for Florida homeowners. It’s a simple fact—reducing heat absorption lowers indoor temperatures and results in less need for air conditioning.
For example, the Florida Power & Light Company reports that cement tiles roofs and metal roofs reflect up to 77 percent of solar energy. How does this translate to cost savings? Here are a few facts to consider:
- White, galvanized metal roofing can slash annual cooling costs by up to 23 percent and reduce peak demand by 35 percent.
- Reflective coatings on roofs thermal insulation can save homeowners in Florida up to $13.6/146 sq. ft.
Most studies indicate that properties in warm, humid climates benefit the most from installing cool roofing materials.
Energy Efficiency and Property Valuation
Energy-efficient features can boost a property’s market value in several ways.
- Energy-efficient homes appeal to eco-conscious buyers seeking sustainable homes.
- An energy-efficient roof design expands your property’s market appeal.
- Increased energy efficiency reduces energy costs, making the property more financially attractive.
- Energy efficiency aligns with green building trends and cool roof energy codes.
A 2022 study found home energy efficiency is directly linked to sale price and mortgage repayments. The study analyzed homes for sale with a “Home Energy Score” assessment. For every 1-point increase on the Department of Energy’s scoring scale, home prices rose by 0.5 percent. Also, lower energy bills lower the odds of 30-day mortgage delinquency.
Energy-efficient features not only cater to the preferences of environmentally conscious buyers but also offer tangible financial benefits, ultimately increasing a property’s market value.
Navigating Incentives and Rebates
Government incentives and tax rebates can slash the cost of energy-efficient roofing installations. In Florida, state and local governments offer incentives to encourage more homeowners to install energy-efficient home equipment.
Here are a few schemes available:
- Federal Income Tax Credits: To help pay for installing heat pumps, insulation, solar panels, and solar water heaters. You can save up to 30 percent of the entire system price.
- Florida Property-Assessed Clean Energy (PACE) Financing: To help pay for solar equipment and lower monthly payments on your tax bill.
- Florida Property Tax Abatement for Renewable Energy Property/Property Tax Exemption: Installing photovoltaic (PV) equipment will not increase property taxes.
- Local Incentives: Speak with a trusted roofing contractor about available incentives for installing eco-friendly roofing in the Tampa Bay area.
Marketing Energy Efficiency in Real Estate
Energy efficiency is a key selling point when selling our home. You instantly make your home more marketable and appeal to a wider audience. Also, you increase the chances of selling your home fast and above your asking price. Home buyers want to buy properties with energy-efficient features to reduce monthly bills and benefit the environment.
When installing a new roof, consider energy-efficient materials like metal or solar shingles to maximize property value. Also, work with a local contractor experienced in navigating government incentives and rebates to lower the replacement cost.
Are you interested in learning more about types of energy-efficient roofing? Call Code Engineered Systems today to learn how we can help you maximize your property’s market value. We specialize in helping homeowners install energy-efficient roofs that offer cost savings and environmental benefits. Contact us today for a free consultation.
