Free product that could help increase your home's value by $112,000

As any homeowner will tell you, the last few years have been tumultuous for the housing market. Higher interest rates coupled with a cost-of-living crisis have put extra pressure on Aussies, forcing them to consider how to make their homes as valuable as possible when it comes time to sell.

While there are small, cosmetic changes you can make to your property to make it more appealing to buyers, there is another factor influencing the asking price of Aussie homes. And, in great news, it's a win for the environment as well as sellers.

"Going green isn’t just smart—it's profitable," Domain's Chief of Research and Economics, Dr. Nicola Powell tells Yahoo Lifestyle. "Sustainable homes on Domain are fetching a premium, with houses selling for up to $112,000 and units up to $70,000 more than those without eco-friendly features."

RELATED:

• Major change to The Block could see houses sell for $125,000 more at auction

• The $6 Bunnings hack that could keep your home warmer this winter: 'Works a treat'

• The one design feature you'd never find in The Block's Scott Cam's house: 'Just nonsense'

And, in case you needed any more convincing, eco-friendly homes are so desirable that next year, in a series first, all of the homes on the renovation series The Block will be "green", which could see them sell for more at auction.

"Solar panels, energy-efficient appliances, and top insulation are now must-haves for savvy buyers, and with government incentives driving the trend, more buyers are seeking long-term savings and energy independence," Dr Powell says.

However, for the average Aussie homeowner, figuring out how to upgrade a home to include more sustainable features can feel overwhelming, with research from YouGov finding that almost half of those surveyed (46 per cent) don’t know where to start when it comes to sustainable renovations. Almost nine in ten Aussie homeowners say barriers are deterring them from making their homes sustainable.

That's where Green Specs - a digital resource developed by Allianz Australia and the Green Building Council of Australia (GBCA) - comes in. The free tool is designed to help homeowners be more environmentally conscious, save money and add to their home’s value.

Cost-saving information for everyday homeowners

The digital destination aims to simplify the often-confusing technical information about sustainable homes and makes important and cost-saving information accessible for everyday homeowners (yes, please) and as geeky as it may sound, also makes it fun.

Using engaging visuals and interactive floorplans, anyone can explore how areas of their home can be changed to become more eco-friendly and cost-effective.

Better yet, you can select specific rooms and budgets, meaning it is very much customisable for your own needs and preferences.

Interestingly, research from Green Specs revealed that nearly half (49 per cent) of Australian homeowners say while they’d like to make sustainable changes to their homes, that there isn’t enough information on how to do it.

But with two-thirds (63 per cent) of homeowners wanting to learn more about how they can make their home more sustainable there is an appetite for this knowledge- which is where Green Specs comes in.

According to Green Specs, some of the changes that can help the environment and add value to your home include ‘positive changes’ such as energy efficiency, ‘healthy changes’ such as reducing harmful chemicals or emissions and ‘resilient changes’ such as reducing the risk of extreme weather impacts on your home.

How to save $3500 a year on bills

Sydney environmentalist, and lawyer, Michael Mobbs can attest to how making greener changes to your home not only benefits the environment but your bank account too.

Mobbs and his family have been living partly off-grid (disconnected from mains and the sewer) since 1996 and completely off-grid since 2015 (disconnected from the electricity grid), in an attempt to be more sustainable.

“I pay no energy or water bills and save over $3500 a year by using what falls freely from the sky and the sun and the rain,” he tells Yahoo Lifestyle.

Mobbs says that the most energy and cost-efficient appliances in his house in order of cost savings, sale price and pollution reduction are solar hot water, shade from a vertical garden and skylights in every room.

SHOP:

• Stylish $50 product solves annoying Aussie beach problem: 'Gorgeous'

• $4.50 Woolworths product loved by Aussie sports stars: 'Perfect snack

• $1.40 Coles and Woolworths item that shoppers swear by for summer: 'My absolute fave'

“This means that for most of the year for most of the day, there’s enough natural light to avoid turning on electric lights,” he says.

While going completely off-gird isn’t for everyone, Mobbs believes the more sustainable your home, the better, whichever way you look at it.

“Rising energy and water costs help to increase the sale value of energy and water efficient houses because such houses cost less to live in,” he says.

Dr Powell agrees telling us that, "Homes with solar power, battery storage, and rainwater harvesting are also among Domain’s top listings, making them a smart, profitable investment."

So, if you are looking for ways to make your home greener, more energy efficient and, ultimately, higher in value, head over to Allianz's Green Specs to get started.

Want the latest lifestyle and entertainment news? Make sure you are following us on Facebook, Instagram and TikTok and don't forget to subscribe to our newsletter.