Home Lifestyle Do Real Estate Buyers Want Sustainable Features?

Do Real Estate Buyers Want Sustainable Features?

Do Real Estate Buyers Want Sustainable Features?
Photo by Vivint Solar on Unsplash

Climate change affects us all, and the data doesn’t lie: sustainability is on every buyer’s mind. According to a 2020 realestate.com.au survey, “more than 42% were searching for developments with green features such as solar power, green common areas, water harvesting features, and communal vegetable gardens. When surveyed, 78% of responders thought housing developers should incorporate sustainable features and 59% thought solar power is primarily a cost-saving benefit.”

And it’s not surprising: damaging floods, bushfires, and extreme weather events have profoundly impacted communities in Australia and the world at large. 

While some property owners might think sustainable features are a luxury, they are a strong investment consideration. In fact, a study conducted by E.ON Energy found that eco-features are now more important to home buyers than garden size. 

“People are more conscious about climate change and its impact and, as a result, are willing to invest more in a property that has sustainable features,” says Matt Peden, real estate agent and owner of Australia-based Independent Property Group.

And conscience is not the only reason homebuyers want more sustainable features – it’s also economical by reducing regular energy bills. 

Here are the top 7 sustainability features you should consider for your property: 

Solar Panel Installations 

Solar power is one of the most sought-after and efficient sustainable features real estate buyers seek. It makes a huge difference to the electricity bills by harnessing natural solar energy. 

In the same survey mentioned above, realestate.com.au found that “solar power” makes up 92% of keywords used in Google searches.

Lighting 

Energy-efficient lighting is another key feature of a sustainable home. Installing LED light bulbs will curve the electricity bills further – by drawing less power.

Natural light is an obvious consideration, but it might be harder to achieve without a major home makeover or renovation. If you are in the process of rebuilding your home, you should engage the services of an architect and figure out the best ways to get natural light into your property. 

Electric Car Power Stations

Another sustainable feature for your property should be electric car chargers. As electric vehicle (EV) sales increase, EV charging stations will only become more common. 

According to The Guardian, Australia recorded 20,665 EV sales in 2021, a significant increase from the 6,900 sold in 2020. 

Bike Racks

Bike racks might not immediately come to mind as a sustainable feature, but the truth is that they should be a consideration, especially for Strata Companies. Having bike racks available in an apartment building will improve the property and have a sustainable effect on the wider community.  

Insulation

While “invisible,” quality insulation goes a long way regarding comfort and energy efficiency. It moderates the house’s temperature, and it’s one of the top features sought after by new home buyers. 

Water tanks

According to climate scientists, water will be the future global currency. Climate change has severe consequences for water access and making sure we’re not wasting it starts with smart upgrades. 

Greywater reuse is a serious sustainable consideration in green title subdivisions or strata. Property owners can retrofit their real estate by installing features such as water storage tanks. 

Battery storage

Battery storage is a form of renewable energy that uses batteries to absorb and release energy on demand. It’s cost-effective and sustainable, but it can also be used in case of an outage. 

Tesla home batteries are an example of this, and they can store energy from solar or the grid. 

Conclusion

While property owners should consider the demographic and location before making any changes, there is no doubt that in 2022 real estate buyers will want sustainable features. And by implementing some (or all) of the above recommendations, you will not only sell your property for more money but will also help the environment with these thoughtful considerations. 

Featured Photo by Vivint Solar on Unsplash

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