5 Ways to Increase the Value of Your Home

Published on February 08, 2018

While many home improvements may appear to increase the value of your home, home energy retrofits and upgrades are definitely going to increase the value of your home. Improving home energy efficiency will have both short term and long-term benefits. To begin with, every upgrade will shrink your utility bill (summer and winter). And when its time to sell, the efficiency features will add value to the sale price. In fact, by 2019, home energy will be an integral part of a listing.

1. Energy upgrades to increase the value of your home

A comprehensive home energy audit is the first step in assessing the energy performance of your home, while understanding energy consumption patterns from season to season. What’s key with a home energy audit is identifying energy performance issues that can be effectively remedied.

For an accredited energy audit, a Certified Energy Auditor must be contracted. This is particularly relevant when a government rebate or incentive is involved. A Certified Energy Auditor provides an in-depth assessment, an accurate energy usage profile, and an account of performance issues.

• overall energy performance is measured
• issues are flagged for ultimate resolution
• energy bills are studied for usage patterns
• upgrades, repairs, retrofits are proposed

Certified Energy Auditors are accredited by National Resources Canada. They have demonstrated expertise with energy performance, and work with licensed “service” organizations to effectively retrofit insulation, remedy air leakage, and upgrade HVAC efficiency (heating/cooling system).

2. Rebate programs available for energy upgrades

Clearly, home energy upgrades will result in significant annual utility savings. And while these types of home improvements will also increase the value of your home, there’s even better news about available rebates and incentives (many of them endorsed by the Ontario Government).

The province's Home Reno Rebate Program, as well as incentives from Union Gas, allow for thousand of dollars of rebates when homeowners undertake energy-efficiency upgrades. These generous cash-back offers can substantially offset the initial investment required to do the work.

• upgrading basement insulation and boosting R-Values
• improving the existing insulation level in crawl spaces
• enhancing exterior wall insulation to increase R-Value
• retrofitting attic insulation to maximize performance
• air sealing (and weatherizing) the building “envelope”

The Green Ontario Fund provides additional cash incentives for homeowners who perform at least two upgrades that qualify. A Certified Energy Advisor will do TWO energy assessments (one before and one after upgrading), and then recommend viable remedies, upgrades, and retrofits.

• replacing existing appliances – like fridges, freezers, washers
• installing a new central air conditioning system (or furnace)
• improving energy efficiency with new insulation or windows

3. The EnerGuide Label from Natural Resources Canada

EnerGuide Ratings, and EnerGuide Labels, can only be issued by having an accredited energy audit by a Certified Energy Auditor. The rating system indicates a home’s energy performance level and associated energy efficiency. Needless to say, a home that’s had significant upgrades and retrofits will score well, with an impressive energy efficiency profile (when it’s time to sell).

4. Home Energy Rating & Disclosure (HER&D program)

The HER&D program allows prospective homebuyers to compare homes based on energy usage and performance. Homebuyers can therefore be aware of heating and cooling costs even before purchasing. The HER&D program provides a FREE energy audit and cash incentives designed to upgrade energy efficiency. Upgrade incentives are available even if the home is not set for sale.

5. Energy-efficiency will increase the value of your home

Homeowners (and homebuyers) are becoming more and more aware of the benefits of having an energy-efficient home. Statistics show that energy upgrades can increase the value of your home.

Needless to say, added resale value will depend on the extent of upgrades and on improvement level. But the fact remains, energy upgrades will pay off in a much bigger way than a new kitchen.