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Certify an Existing Home
Have you read about the Inflation Reduction Act (IRA) in the news over the last six to eight months?
The Inflation Reduction Act was passed to help combat climate change, upgrade electrification, and move people toward new technologies in their homes and businesses. It is a big piece of work that applies to almost all of us because a large part has to do with our homes.
So, what can we do to improve our homes, and how can we be assisted in paying for them? I have two wonderful guests with me to walk us through their experiences and help answer those questions!
I’m Marla, the Green Home Coach. Today, Brett Vredevoogd from Eco Equity Real Estate and Pamela Brookstein from Elevate Energy join me on the podcast to talk about the Inflation Reduction Act and how we can use certifications and energy efficiency to improve the homes we buy and sell.
Brett is a realtor in Grand Rapids, Michigan. He focuses on helping eco-conscious homeowners increase energy efficiency and maximize their home equity.
Pamela works for Elevate, a non-profit based in Chicago. They work nationally, designing and implementing energy efficiency programs. They focus on reaching anyone who could benefit from energy efficiency and cleaner home upgrades.
Pamela believes that the Inflation Reduction Act will rectify many of the wrongs that have happened in the past. It will provide assistance for all homeowners to improve the experience they have in their homes and reap the benefits of energy efficiency, cleaner indoor air, and lower utility costs.
Brett works primarily with existing homes. At this point, he focuses on getting as much data as possible on the MLS about the energy-efficient aspects of homes and educating all the players in the industry about the value of energy efficiency.
Brett and Pamela work together to understand how people feel about energy certification and its effect on market value. Brett has had favorable responses from sellers and buyers after seeing what homeowners have done to make their houses healthier and more energy efficient.
Pamela teaches two classes. One is on solar, and the other is on high-performing homes. An entire module focuses on setting agents and sellers up for a good appraisal.
Appraisers have started going to Pamela’s classes. They have been asking her to meet them at the houses to tell the story of what makes those houses so special. Having all that data upfront makes things much easier for them when an appraisal gets contested.
Brett feels that a checklist will make it much easier to prove that a house is more energy-efficient than all the other stock in a particular neighborhood.
Pearl Certification has a practical and light-hearted approach to explaining things to professionals and home buyers. Brett found them about four years ago. He has been using them because they do an excellent job of providing potential buyers with a client-facing report that quickly lays down all the logistics of why a house is more efficient than most other stock in a given area.
Home buyers appreciate the third-party certification because most people don’t fully understand the range of benefits of an energy-efficient house. So they want a third-party certification to prove that the house is truly energy-efficient.
4.3 billion dollars will come in over the next ten years, by way of tax rebates and programs to improve the existing housing stock. That money will go a long way in helping to change people’s lives and their experiences in their homes. There is a strong emphasis on upgrading electrification. Money has been allocated for training energy assessors, and there is a tax incentive for having an energy assessment done. The idea is to remove all gas appliances from homes, so there will also be rebates for everything electric.
Rewiring America has a website that lays out the available tax rebates and incentives.
The Inflation Reduction Act will reduce or eliminate costs for low and moderate-income homeowners.
The benefits of certified energy-efficient homes
They are well-built
They are well-maintained
They are resilient
They have many high-performing assets
They get a good return on investment when sold
Green Home Coach Workshop – How to Sell the Value of Green Homes and Features
Elevate Energy Value for High Performing Homes
Elevate Energy Education for Real Estate Agents
Rewiring America – more details on IRA 2022 Tax Rebates
Get 5 Myths of Green Homes to reveal the true value that is commonly overlooked in virtually every home!
At Green Home Coach, helping you to create and discover healthier, more comfortable homes is what I do. I work with home professionals – designers, builders, realtors, and more; home owners and dwellers … just about anyone that works with a home in some way.
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