Jan Shomaker doesn't have to look far to find the benefits of going green.
She remodeled her three-bedroom, two-bathroom Mission Viejo house to add energy-efficient lighting and appliances and natural ventilation to reduce summer cooling costs. Solar panels partially cover her roof, and solar tubes shoot light into dark rooms.
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Recouping upgrade costs in a sale
Homebuyers are more likely to pay extra for "green" upgrades that save money. Green-designated Realtors and others?said these components provide the most bang for your buck.
?Upgraded windows: Dual-pane or triple-pane windows reduce energy bills by up to 15%. Homeowners?may recoup 50-75% at sale.
?Energy-efficient appliances: Kitchen appliances?may recoup up to 90% of investment.
?Energy-efficient heating and cooling equipment: Newer equipment takes less energy and saves money.
?Insulation: Upgraded insulation is a positive when selling a home,?but cost usually does not get recovered. Less time on the market still is a plus. Insulated garage doors also reduce energy costs.
?Solar tubes:?Tubes channel natural light into interior, cutting electricity use.
?Extraction fans and attic vents:?These save on energy costs.?
?LED lighting: LED bulbs last longer, use less energy.
?Solar panels: Panels reduce electric bills,?but work best when a home?has other energy-efficient features.
Her average electric bill? Just 91 cents. A month.
A neighbor with a similar house pays $450 a month for power.
And there's another benefit. Shomaker, broker-owner of SPS Realty, estimates that her $10,000 investment in eco-friendly renovations and components has boosted her home's value by about $50,000.
"You save money by going green," she said, "if you've done it the right way."
More and more developers are building environmentally friendly homes in Orange County. And homeowners are seeing added incentives to retrofit older homes with green and energy-efficient features.
Now, there's some evidence that those efforts can pay off when the homes are sold.
A recent University of California study found that green-certified homes sell for about 9 percent more than similar homes that aren't green. The study compared 1.6 million conventional homes sold in California from 2007 through 2012 to 4,231 LEED-certified, Green Point Rated and Energy Star-rated homes sold in the same period. The sample included nearly 117,000 conventional homes and 723 green-certified homes sold in Orange County.
Among the findings: A $10,000 investment in green certification raised sales prices by an average of $34,800.
Price premiums were highest in areas with hotter climates and higher air-conditioning costs. Buyers also tended to pay more for green homes in areas with higher rates of hybrid-car ownership ? a sign of greater environmentalism dubbed the "Prius effect," the study said.
"These are kind of ballpark numbers," said study co-author Nils Kok, a visiting scholar at UC Berkeley who teaches finance and real estate in Holland. "(But) no matter how you twist and turn it, benefits (of green investments) outweigh costs."
The California study came on the heels of two industry surveys showing that homebuyers are willing to pay at least $5,000 extra for green homes, with two-thirds of buyers rating energy efficiency as important.
Kok noted that components that cut energy bills ? such as dual-pane windows, insulation and solar-electric panels ? matter most to homebuyers.
The cost benefits, however, aren't always apparent when looking at Orange County green homes.
Local agents say interest is high here in features that reduce utility costs.
Irvine broker Desiree Patno estimated that eco-friendly features add on average 2 percent to 5 percent to "a fully upgraded home with windows, solar, tankless water and light fixtures."
But agents Eileen Oldroyd of Mission Viejo and Erin Barry of Long Beach, who both have green Realtor designations, questioned whether homeowners get their full investment in green components back when they sell.
Homeowners can recoup anywhere from 50 percent to 90 percent of their investment in some eco-friendly features when a home sells, they said. Other features merely help a home sell quicker but have little effect on the home's sale price.
"In my opinion, you don't get 100 percent of improvements back on any property," said Oldroyd, a member of the Orange County Association of Realtors' green committee and owner of a car that uses recycled vegetable oil.
Oldroyd found five Orange County homes for sale that have green features or are green-rated, but were selling for about the same amount as comparable homes in their area or only slightly more.
Long Beach appraiser Rob McClelland, who teaches about green-building appraisals, says that green-certified homes are more likely to sell for a premium but not more than the amount invested.
"The reason they sell for more is they cost more to build," said McClelland, who does appraisals throughout Orange and Los Angeles counties. "The builder and the seller probably aren't going to make a profit on that."
There also are limits on how much buyers are willing to spend on green components.
Buyers are paying extra to add solar power and upgraded insulation to homes at KB Home's Whisler Ridge development in Lake Forest, said Steve Ruffner, the company's Southern California division president. The builder touted the development as the first "net-zero" tract home project in California.
But so far, none of the buyers has opted for the full "net-zero" package, which costs about $19,000 to $30,000 extra after federal rebates, he said. About half of the 58 Energy Star-rated homes have been sold.
"Solar probably is the winning option," Ruffner said. "It's the most efficient green add-on."
Many sellers and prospective buyers are not knowledgeable about the benefits of green upgrades, agents said.
Shomaker noted that the Terramor Village project at Ladera Ranch ? featured in books and national news articles about green homebuilding ? scarcely garners much attention for its eco-friendly features today. Out of 29 Terramor homes for sale, she said, only five had listings that mentioned the homes' green features.
"That's just a product of the owners not knowing what they have," Shomaker said.
Another roadblock, agents say, is that appraisers often don't take green features into account when assessing values for lenders.
Shomaker, chairwoman of the local Realtor green committee since its formation in 2009, persuaded her husband ? albeit reluctantly ? to do a green remodel on their home after the couple moved to Mission Viejo in 2006.
The Shomakers gutted the 1979 home, recycling wood and concrete from the driveway and rear patio. They removed the lawn, gave away palm trees and replaced landscaping with drought-tolerant plants and a shade tree. Habitat for Humanity removed cabinets, granite counters, sinks and lights to reuse in future projects
The couple also built extended eaves on front and rear patios to shield the house from summer heat. They installed solar attic fans to vent hot air and added dual-pane windows, wall insulation, attic heat barriers and a 50-year metal roof coated to reflect sunlight.
A tankless water heater and zoned heating and cooling system replaced conventional components. Fans and "awning" windows throughout keep the home cool at less cost than air conditioning. LED lighting, solar tubes channeling natural light into dark corners and 18 rooftop solar panels keep electricity costs down.
The Shomakers made their home 500 feet bigger, created large, open living areas and even clung to luxury items like a second refrigerator and wine cooler.
The project cost $160,000, but they would have spent all but $10,000 anyway, Shomaker said. Their combined gas, water and electric bills total $60 or less a month.
"It's the gift that keeps on giving," Shomaker said. Her husband, Allen, now retired and on a fixed income, has become a committed convert.
"You've got to start somewhere," said Allen Shomaker, a former marine clerk at the ports of Long Beach and Los Angeles. "It may cost a little more, but it will save you money in the long run."
Contact the writer: 714-796-7734 or jcollins@ocregister.com
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Source: http://www.ocregister.com/articles/green-375982-homes-home.html
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