You may have heard single-family homes for sale within the City of Portland are now required to include a home energy score in their listings.
To answer a common question: this doesn’t replace a home inspection, which the buyer pays for, prior to purchasing a home. The home energy score audit, paid by the seller, needs to be conducted prior to listing a home for sale.
Why? Per the City of Portland's website:
Home energy scores are a market-based solution for conveying previously unknown but critical information to both buyers and sellers of homes. When homeowners invest in improving the energy efficiency of their homes, those costs may be recouped as scores translate into a value that can be recognized by the market. A recent analysis that included over 20 studies worldwide of homes with green certifications demonstrated that green-certified homes sell for up to four percent higher than a comparable home.
Beyond lower energy bills and greater housing affordability, energy-efficient homes are more comfortable and livable. The indoor air quality of these homes is better, leading to healthier lives. Home energy scores afford consumers a measure of protection when making one of the biggest financial investments most people ever make. [more below]
Benefits for Owners
- Information on money-saving home improvements.
Benefits for Buyers
- Better insight into the full costs of owning or renting a home.
- Ability to compare energy costs and performance between homes.
- Knowledge of potential home improvements in advance of purchase.
- Access to additional mortgage products.
Benefits for Sellers
- Recoup investments in energy efficiency upgrades at time of sale.
Have questions? Not to worry, we're here to help answer questions and help you understand these changes - and benefits - regardless if you're a currently a homeowner thinking about remodeling, looking to buy, or thinking about selling.