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Climate change isn’t going away.
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Will 2023 be your year to buy a home? It’s not a particularly good time for buyers (and is increasingly becoming unfavorable for sellers too, as mortgage rates spiked last year, rendering homes even more unaffordable for many prospective buyers), but you might be in a good position financially and ready to buy nonetheless.
As we head into the future, there is a massive elephant in the room: climate change. This will present a greater problem in the short term for some cities in particular, as they contend with flooding, extreme temperatures, and wildfires — and resulting higher costs. But no matter where you’re hoping to buy, there are some home features you’ll want to focus on finding, as they’ll save you money and help the planet by saving energy. Look for these home features to live a greener life and also save some green.
1. Location, location, location
It’s true what they say: When it comes to real estate, location is everything. I don’t just mean buying a home in a hot neighborhood with lots of amenities like shops and restaurants (although, if these things are important to you, by all means look for them). Consider how nice it would be to have the option to walk or bike to the store, or have your kids walk to school rather than waiting on a bus or having to drive them. What if your neighborhood featured well-maintained sidewalks and bike lanes, or even a park, and you could walk, jog, or bike for exercise? This could save you the cost of a gym membership (and the cost of the gas you’d use driving there).
2. Updated appliances and home systems
If the home you’re considering has newer appliances and home systems (like plumbing and HVAC), you may end up paying a higher price for the home, but you won’t have to pay to make these kinds of upgrades yourself. You also won’t have to wait on materials or appliances to come in; supply chain issues have made home upgrades even more time-consuming and expensive these last few years. And you’ll get to reap the benefits of lower utility bills and a smaller carbon footprint — what’s not to like?
3. Windows on the world
If your home has old, leaky windows, you are literally paying to air condition or heat the outdoors. While there are workarounds for this (such as covering your windows with plastic during the winter), if you have the option to buy a home with upgraded windows that keep the weather out and your precious heated or air-conditioned air inside, you should.
4. Mature trees
Trees can save you money and improve your eco-footprint at home. How so? If you have large shade trees in front of your windows, you’ll save money on your cooling costs. And trees can help mitigate the effects of soil erosion. Plus, when it’s time for you to sell your home, you might be able to command a higher price for it — people like trees, for these reasons and beyond. Bonus: Trees are beautiful.
5. Other eco-friendly upgrades
Depending on your home-buying budget and where you’re trying to buy, you may have access to homes that come with even more green upgrades, like solar panels or water-saving landscaping. Solar panels, in particular, are not cheap, but if you can buy a home with them already installed (and fully paid for by the previous owner, rather than leased), you will likely save money on your energy costs, even if you pay more for the home upfront due to the presence of the panels.
There’s so much to think about when it comes to homeownership, and it’s a great idea to add these features to your home-buying checklist if you want to both save money overall and live a more eco-friendly life in your new home.
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