Do Whole House Fans Increase a Home's Value?
These days, whole house fans are growing in popularity more than ever as homeowners opt for more efficient, energy saving heating and cooling options. And, new homeowners, who are more conscious of their budgets than ever, are reluctant to become dependent on their AC unit as the only option they have to cool their home.
What this means is that more individuals are cooling their homes with more natural and energy efficient alternatives, like whole house fans, as they try real hard to be good to both the environment and their wallets. But, did you know whole house fans can also increase your home's value? Below is a round up of studies showing the energy efficiency of whole house fans and how they can increase a home’s value.
- While it might seem like a small thing, installing a whole house fan, it could be a game changer for future homebuyers, particularly in environmentally conscious locations, like Southern California. New homebuyers are looking for energy efficiency in the homes they are considering buying. One study showed energy efficient homes actually sell for 7% more.
- Another study named "Energy Efficiency: Value Added to Properties & Loan Performance," provided insight on how lenders might have the ability to factor in energy-efficiency rating systems into the process of mortgage underwriting. Loan default rates and property sale prices were tracked in the study to see if energy-efficient features can increase the value of a home and offer owners less financial stress based on reduced utility costs. The study found better rated homes sold for as much as 5% more than lesser-rated homes.
- One study compared the market prices of houses that didn't receive green certification to those that went through green certification programs like
- Energy Star
- LEED for Homes
- HERS Index Scores
- National Green Building Standard
Their findings showed homes with green certification sold for 9.5% more than homes without certification.
- According to a literature review, Energy scores or labels for homes and properties have consistently been found to generate a substantial market response when you compare them to those properties without labels. It was found
- Energy-efficient properties that receive a better score or favorable label get a premium in the market.
- Properties that aren't energy-efficient and receive a lower score or unfavorable label get discounted in the market.
So, as you can see, energy efficiency is important for a home's value — and since whole house fans help improve energy efficiency, they can also help increase a home's value. Not to mention, if you reside in areas that are hot in the daytime and cooler during the nights, whole house fans cost between 10% to 20% less than AC units cost, saving you hundreds of dollars on your energy bills in the peak of summer.
If you’re considering putting your house up for sale in the spring, now is a great time to install an energy-saving whole house fan and reap its benefits when you sell your home.
Call us direct at 1-661-775-5979 M-F 7 am – 5 pm PST here at WholeHouseFan with any questions about which of our whole house fans is right for you.