With energy cost on the rise and growing interest in protecting the environment, young buyers are conscious of buying homes that are green. They may not be alone, according to Jeff Hyland of Hilton & Hyland real estate agency in Beverly Hills, Calif.
"Today, not only younger buyers, but buyers in general, are looking for energy-efficient homes," says Hyland. "And if they are not already set up (for energy efficiency), then the buyers will often factor those costs into their budgets so they can do it after the close of escrow."
Before sellers green wash their homes, Elliott offers a caution: "I am not seeing the energy efficiency of a home as a top selling feature that attracts young buyers," she says. "They seem to be savvy on insulation levels, seasonal energy efficiency ratios and other energy-efficiency factors, but (energy efficiency) still isn't the top reason for a home purchase."
Oftentimes, Elliott says, young buyers ask about these things and then update them after they close on the house. And in some cases, buyers who make those upgrades themselves do so because of tax credits.