Eco Homes save the Planet & your wallet
💡 New report 💡 Energy-efficient homes can make you more money when you come to sell: According to Domain's latest Sustainability in Property report, eco-friendly homes attract 16% more listing views and sell 4% faster compared to less energy-efficient properties.
There's a significant price premium to be capitalised on, with energy-efficient houses costing 14.5% (or $112,000) more on average nationwide. In major cities like Melbourne and Sydney, that premium is even higher at 28.8% and 23.1% respectively.
While the upfront costs may be higher, investing in an energy-efficient home can pay dividends through lower utility bills and a reduced environmental footprint. As Davina Rooney of the Green Building Council Australia stated, "Australians are becoming increasingly aware of the health, environmental, and cost benefits of sustainable living."
So how can we make these desirable eco-friendly properties more financially attainable, especially for first-time buyers? Here are some options to consider:
🏦 Lender incentives & green loans – some examples of lender initiatives include (subject to change & eligibility criteria):
- ING Australia is offering up to $2,500 cashback for purchasing or refinancing an energy-efficient home meeting minimum ratings.
- Commbank Green loan a low secured fixed rate loan for CBA home or investment loan customers borrowing to buy & install eligible clean energy products.
💰 Government Grants & Rebates
- The federal & state government incentives offer rebates, tax credits or other incentives for eco-friendly home upgrades like solar, insulation, etc.
It's crucial to ensure that the overall product meets a client's objectives and remains competitive. It's not just about buying into the hype of green products. I am committed to seeking out finance solutions that genuinely reward clients for their eco-friendly choices & look forward to expanding options in this area.
The market has spoken - eco-conscious living is gaining mainstream momentum.