Can You Increase the Value of Your Home by Turning to Alternative Heat?
When you’re thinking about home improvements, your initial motivation might be simply making your house a better place to live. But for a lot of folks, regular home improvement also carries the benefit of boosting their home’s resale value. There are plenty of good reasons for adding an alternative heat system to your home, and increasing your home’s value is definitely one of them.
Here are four reasons why adding alternative heat to your home is a good investment:
- Reap both the value of an upgraded heating system and cheaper fuel. Any time you upgrade the heating system in your home, you’re likely to increase your home’s value as you’ll have a newer system that will likely work more efficiently and last longer than your old system would have. Upgrading to an alternative heat system such as wood or corn pellet stove or fireplace will give you access to a less expensive and renewable fuel source, as well. So you’ll get the benefit of increasing your home value while potentially reducing your heating bill.
- Buyers evaluate heating costs. Sophisticated home buyers factor utility costs into their home-purchasing decisions. With the efficient alternative heat systems available on the market, such as our Magnum Countryside pellet stoves and fireplaces, you’ll be able to make lower utility bills one of your selling points if you ever put your home on the market.
- You may be able to increase your home value without increasing your property tax bill. While federal tax rebates for purchasing energy-efficient wood and corn pellet stoves and fireplaces have expired, many communities offer property tax rebates for energy-efficient heating systems. In many cases, property tax rebate programs work like this: Residents who upgrade to energy-efficient heating systems are not charged for the assessed value increase related to their new heating systems. To find out if you qualify for any of these programs, visit www.energy.gov and enter your zip code.
- Green improvements resonate with buyers. In a tough housing market, any small advantage or amenity can help sell your home. As energy becomes more and more expensive, small improvements like an energy-efficient fireplace or the addition of say, a Magnum pellet stove, could be the thing that causes a buyer to choose your home over a similar home without any energy-saving improvements. While industry trends certainly indicate that green building is the wave of the future, some studies have found that green improvements are already positively affecting resale value.
Alternative heat can pave the way to lower energy bills and give you the satisfaction of knowing that you’re helping the environment. And if that’s not enough motivation, let the prospect of increasing your home’s resale value be another selling point if you’re considering a new corn pellet stove or super-efficient fireplace insert.