R
eal estate professionals have an opportunity to not only reduce homeownership costs for their clients but also demonstrate their expertise and value. According to Eileen Oldroyd, broker-owner of Oldroyd Realty in Mission Viejo, California, finding and saving money for clients elevates them from agents to professionals.
Utility bills are a significant concern for homebuyers, with 82% citing heating and cooling costs as "very" or "somewhat" important. However, addressing this issue doesn't have to be expensive. Oldroyd suggests focusing on projects like air sealing and adding insulation, which offer a higher return on investment than solar panels or new windows.
Many homes leak energy due to poor insulation and gaps around doors and windows. A home energy assessment can help identify these issues. Certified energy auditors analyze a home's energy use and efficiency, providing a score and list of recommended improvements. Homeowners can claim 30% of the audit cost up to $150 on their federal income tax.
To conduct a DIY inspection, homeowners can use resources like Energy.gov's home audit checklist or even simple tools like incense to detect drafts. Key tasks for sealing and protecting homes include plugging holes around electrical outlets, using weatherstripping to seal window and door leaks, and insulating attics and crawlspaces.
Reminding clients about tax credits for energy efficiency upgrades can also be beneficial. Taxpayers can claim 30% of costs up to $1,200 for improvements like new windows or furnaces, and up to $2,000 for heat pump technology. Some rebates can be combined for a total allowance of $3,200 in one year. Homeowners can find local rebates by entering their ZIP code into the Energy Star Rebate Finder.
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