Resale Value

Renovations to improve the aesthetic of a building or to update rooms may add to the curb appeal of a building. Energy retrofits may also have the potential to positively increase the resale value and occupant comfort at the same time.

Existing buildings that undergo energy retrofits may change shape, exterior finishes and potential resale value. Photo: Nepean, Ontario

How do you highlight the positive aspects of an energy retrofit?

It can be a challenge to sell the 'guts' of a retrofitted building - most home buyers are not attracted to the idea of airtightness, super insulation or mechanical ventilation improvements. They often don't understand the building science. But there are ways to highlight the performance characteristics of an energy retrofit in ways that the buyers market can relate.

COMFORT IS A TOP PRIORITY

Triple paned Passive House certified window - Gatineau, Quebec

Imagine being able to sit in front of your favourite window with a book, barefoot in the middle of winter, without feeling cold. This is the type of 'comfort' that people can relate to, and that has direct application to an energy retrofit.

Increasing insulation, regulating indoor air temperatures, installing high performance windows and elimination of air leaks are facets of a retrofit that fall firmly in the category of building science. Expressing those strategies in terms of occupant comfort are key to creating a relatable and saleable product. A building that people like to be in is a building that will last a long time.

HEALTHY HOUSING

With increased attention paid to airtightness and mechanical ventilation, a building may have lower levels of dust, allergens and unpleasant odours. In the long run, this could translate into fewer bouts of sickness, less of a need for medical help and better overall feelings of good health. Providing for increased insulation levels and better detailing for continuous insulation will also help to regulate temperatures in the building through the entire year, which may translate directly into a heightened sense of well-being for people living in that space.

ENERGY LABELLING

Third party energy efficiency certification programs, such as Net Zero Energy Housing, EnerGuide and Passive House - EnerPHit may provide labels for a building that describe the energy performance to be expected over the course of a year. Think of having a nutrition label like you'd see on a can of soup, but for a building. The label may even take the form of a sticker that is placed on a window by the front entrance.

The idea of labelling buildings has been around for a number of years and is a voluntary option for homeowners who engage with the certification programs described above. This kind of home rating may become more prevalent in the future, as buildings are mandated for higher levels of energy efficiency in building codes. Labelling a retrofit will involve some of the following steps to achieve the certification

  • Preliminary energy audit and baseline testing.
  • Registering, planning and financing for third party label programs.
  • Renovation contractor work.
  • Post-retrofit systems and performance testing (commissioning).

The resale value of a building may be positively affected by an energy certification label, giving a potential buyer a better idea of what kind of operational costs they will incur over time. Educated buyers may also see the less tangible benefits of health and comfort.