Alaska Develops Tool to Boost Value of Energy Efficient Homes

The Alaska Housing Finance Corporation recently released a tool that could boost the appraised value of energy efficient homes, by allowing appraisers to add value to a home that performs better than comparable homes.

The AK Appraisal Tool, developed by AHFC, the Cold Climate Housing Research Center and Alaska Craftsman Home Program, allows appraisers to add value to a home that performs better than comparable homes. The tool could promote energy efficient housing through making efficient homes more affordable and increasing their resale value.

Appraisers typically look at factors like square footage, number of bedrooms and aesthetic features like granite counter tops. If a house was super-insulated or used alternative energy sources, there was no accepted way to factor that into the appraised value. This tool provides a way to value energy efficiency based on the energy bills of a house compared to other similar houses in the area.

Date Posted: 5/13/2014