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Green upgrades may not add much to home's value

Green upgrades may not add much to home's value

By Mary Richards | Posted - Dec. 15, 2010 at 9:16 a.m.



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SALT LAKE CITY -- The new year may come with incentives for homeowners to make their homes more energy efficient. But don't expect it to necessarily add value.

Currently, home appraisals and the MLS don't have a spot to calculate what a green upgrade does to a home's value. Anne Robinson with Renovation Design Group in Salt Lake says for now, when a home is appraised, no extra credit is given for green features because there's nothing to compare it to.

"It appears that it's done on a comparable -- they're comparing one house to the next. So until there's a real scale that you can use to compare one house to the next, it's really difficult to do," she explains.

She says some green investments may start to make a difference in homeowners' monthly bills, but others can take years to pay off. If you plan to sell your house, the next buyer may not care about those upgrades.

Robinson says before adding features like a solar panel, ask yourself if you will eventually sell the house or if you plan to stay there indefinitely.

E-mail: mrichards@ksl.com

Mary Richards

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