Wednesday, March 2, 2016

Insulate and Increase your Home’s Value

Insulation does more than lower energy bills – it is one investment that increases the value of a home. Hanley Wood recently released its annual Cost Versus Value report. This report compares the cost of 30 remodeling projects and how the investing in these projects retains value at resale. For the first time since the report has been done, adding fiberglass attic insulation was included in this list of projects.

According to the real estate professionals who responded to the survey, this upgrade would increase the price of a home at resale. The study showed that within a year of the project’s completion, investing fiberglass attic insulation increased resale value by $1,482. When compared to other remodeling projects this is higher than any other in the study (a 116.9% return).

In another report done by the National Association of Realtors (NAR), in conjunction with the National Association of the Remodeling Industry (NARI), upgrading insulation received another high grade. In this report, the results as measured by expected payback indicate an estimated cost of $2,100 for the project. This could translate to $2,000 in added value at the time of sale, resulting in a 95% percent cost recovery (not to mention the energy savings seen by the homeowner).

We think improvements to home value support the belief that a home that is consistently comfortable and has lower energy bills strongly appeals to today’s homeowners.

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