How Can a Geothermal System Boost the Value of Your Home
Updated: Aug 20, 2021
Geothermal systems are very efficient in energy, innovative, long-lasting, and eco-friendly. Most of the homeowners get in a state of confusion when they are getting a geothermal system for their house. Consider if you are a homeowner and you want to install a geothermal system. Or if you are a seller who is looking to market property in which a geothermal system is already installed. If someone wants to get a home with a geothermal system, the person should consult with geothermal experts in Arkansas. Before doing this whole procedure, it is very important to understand the reasons why buyers pay a premium for a home with geothermal systems.
Buyers Want Savings
When some of the buyers start shopping for homes, they consider the fact about the amount of money they will have to spend to maintain the house. Those homes which have long-lasting appliances and new appliances that use less amount of energy attract the buyers. If we talk about the average benefit, installation of geothermal systems can help save 40% to 75% of energy consumption. This energy consumption is present in HVAC. Naturally, the buyers will choose a home that has up-to-date appliances. These appliances will cost less amount of money to operate per year.
If an average home buyer lives in a home for 13 years, the amount of savings they will get in this time will be very significant. If the listing price of a home is boosted by 5000 dollars due to the existence of a geothermal system as compared to the home in which the price would be listed without the upgrade. Then the interested buyers will estimate and save almost 10,000 dollars in the time that they had spent in that home. This can be difficult for them to tell the purchase of the same home without this upgrade. For proper guidance, you can contact the geothermal services expert of Arkansas.
Most of the Buyers Want Green Homes
Most of the buyers are attracted to homes that are good for the environment. Usually, this means that the buyers want to shop for properties with modern applications. Those air conditioners which are old used a large amount of electricity. But the old furnaces used a large number of natural gas, oil, and electricity. These things give a strain to the electrical grid. Those homeowners who have old geothermal systems in their homes can replace these systems with new innovative technology i.e. new geothermal systems.
As an additional benefit, a geothermal system lessens the carbon footprint of a home significantly. This is only one of the many subjective elements of home selling and buying procedures. Some of the buyers want environment-friendly features that are not so difficult. If you understand the general trends that are going on in the market, then it can help sellers ballpark the effect of this and other features in the home.
People Should Analyze the Market before Selling Their Home
Those homeowners want to find about how much amount of money they can increase for their homes after installing a geothermal system. You can do all this by researching the home in your community, region, and neighborhood. Geothermal systems can boost the value of a home. Because the buyer wants to purchase the property which can save money and helps in protecting the environment. But is difficult to measure the exact value of installing a geothermal system. With the help of a real estate agent, the date of recent home sales can be accessed. As further information, the agent can also help you to find out the comparable homes or comps so that they can assess the market more accurately. Geothermal energy experts in Arkansas also provide you with access to recent home sales.
Usually, the value of a home can be measured when we compare similar properties in a community. The value is also found out by finding a large sample of home that has geothermal systems in one area. In some times, this can be challenging to find out about home values. But the homes which are similar to this and these homes are not with an upgrade can easily be analyzed. This can be done by using monthly or annual savings from their geothermal systems. In the eyes of a buyer, homeowners can easily project the worth of their houses.
If you want to start this, you can start with a good place i.e. typical Dandelion Geothermal customer. As an average idea, Dandelion customers can save up to 50 % of cooling and heating costs per year that are operated by the system. For a buyer who wants to stay in the home for 20 years. This stay in the house can add up to 45,000 dollars in their total savings.
Heat Pumps of Geothermal Systems Are Long-lasting
The estimate of the service life of geothermal heat pumps is almost 25 years. The coil of this heat pump can last up to 50 years. Most of these homeowners are attracted to this longevity and durability. The air conditioner of a house can last almost 15 years and a furnace can last for almost 20 years. So, the heat pump can outlast all these technologies. So, buyers are always attracted to long-lasting things.
Residential Value Increased By Using Geothermal Systems
Most of the homeowners do not know about this concept, they think that residential geothermal cooling and heating is like science fiction. But they don’t know about the science which is behind all this is relatively straightforward. The most important system which is involved in all this is heat transfer. This heat transfer describes the movement of warmth from one space to another. Heat transfer of these pumps can be explained by the experts of geothermal in Arkansas. Heat pumps and air conditioners run a liquid with the help of a coil in the home. This is done to take the heat from the outside and transfer it to the inside. Heat pumps can be dependent on the outdoor air or the temperature which is present underground for heat to send it to the indoors. All this is dependent on their composition.
Also Read: Benefits of Geothermal Cooling and Heating
Heat pumps of geothermal systems use almost consistent temperatures of the earth so that they can give consistent heating in different climates. Water cycle through it by a loop of plumbing until it approaches the exact and right temperature for the application inside the house. This application does not require fossil fuels to operate, unlike most boilers and furnaces.