In neighborhoods around the country and here in the valley, such as Terravita Scottsdale, the trend seems to be in going “green.” Homes are being built or retrofitted as green, but you might want to consider all that’s involved before you spend the money and decide if it’ll be worth it in the end.
First, the definition of a green home. It’s basically designed to use less energy or water or improve indoor air quality. But low-flow water features or new windows doesn’t automatically make a home “green.” Your home, in Terravita Scottsdale or elsewhere, needs to have a combination of “green” features. But identifying these characteristics is complicated during the appraisal process. A number of rating and certification systems are out that can help identify these types of properties. But it’s still tough. As a result, it’s crucial a real estate agent have excellent communication with an appraiser.
Appraisers in Terravita Scottsdale and other communities have many questions to answer when determining if a home is green or not. They want to understand the features that make it green or efficient and know what buyers expect in a green property.
How do appraisers determine if a property is green? Many ways. For one, appraisers look at building plans and specifications, permits, MLS info, and also interview property owners. Appraisers also look for green features when inspecting homes at Terravita Scottsdale and other neighborhoods. There are also third-party sources, such as Energy Star, LEED, and HERS.
Another challenge appraisers face is the lack of energy efficient data that’s verifiable. While the appraisal process is the same for a green home, many MLSs were designed a while ago, long before there was a way to get accurate information about a home’s energy-efficient features. The good news is that many MLSs are updating their systems to ensure accuracy with green homes.
This is where an real estate agent can have an advantage. Knowing this information, an agent can give critical information to an appraiser about a green property.
Bottom line, while a green home might be at the top of some buyers’ wish list, you might not get your money out of “green” upgrades, depending on who your appraiser and agent is. Whether in Terravita or other Scottsdale communities, at the end of the day, it’s going to come down to buyers and sellers determining how much a “green” home is worth.