Can Updating Your Insulation Increase Your Home’s Property Value?
When you’re selling your home, getting the highest offer possible is one of your biggest priorities. Although you can’t control factors like the current mortgage interest rates or the state of the economy, there are a few things you can do to increase the resell value of your home. One of the biggest ways to increase your home’s property value is insulation. If you’ve ever had to rug up with layers to stay warm indoors, you’ll understand why insulation is such a big draw card. Sadly for many of New Zealand’s older homes poor insulation (or no insulation at all) means cold houses. And unimpressed buyers.
If you’re looking to sell your home for max return, it’s worth noting that insulation does more than just keep your house warm, it helps sell your house.
Here’s a few reasons insulation is worth installing if you’re looking to increase your home’s property value:
An insulated home is usually a well-looked after home
Potential buyers know there’s a good chance a home with good insulation is free of damp, mould or mildew problems. It’s also a good indication that the owner of the home has looked after the property. Because insulation is integral to your home being healthy (Homes that are poorly insulated, damp, or cold can cause health issues like respiratory problems or diseases like rheumatic fever) and liveable, buyers are more likely to purchase a home that is ready to live in from the get go.
It’s less work for the buyer
While you’re looking for top dollar for your home, often buyers are stretched when it comes to meeting the purchase price. If further costs are involved, like installing insulation, they might be less likely to purchase. Much like the point above, a buyer is more likely to be interested in a home that is ready to live in and isn’t going to incur further costs or work. Installing good insulation before you go to market makes your home more appealing against the competition.
An insulated home is a more energy-efficient home
While insulation might not raise your home value in a visible way, like fresh landscaping or a new kitchen does, an insulated home pays a small return on the investment by lowering heating and cooling bills. A fully insulated house needs about half the heating of an uninsulated house. Efficiencies in your home also mean there is less waste of valuable resources as reliance on natural resources is minimised.
As well as being a sure fire way to increase your home’s property value as well as helping your house to become more comfortable and liveable. With all the benefits of an insulated house, it has been recognized by the New Zealand government that insulation is compulsory for a comfortable and As of July 1, 2019, rental houses New Zealand wide are required to be insulated. To find out more about insulating your home, contact us for an assessment.