Energy efficiency has surged to the forefront of homebuyers'

As we enter 2024, it's not just the temperatures that are on the rise; energy efficiency has become a burning issue for homeowners and prospective buyers who aim to manage their monthly expenses effectively. Recent data reported by The New York Times1 reveals an 8 percent increase in the average residential electricity rate compared to the previous year, marking the most significant annual surge in over a decade.

The Importance of Energy Efficiency

A consumer survey conducted in 20222 demonstrated that 70% of respondents consider it crucial to reside in a home equipped with energy-efficient features. This shift indicates that these features have transitioned from being mere "nice-to-haves" to becoming a top priority for today's homebuyers.

Energy-Efficient Features That Make a Difference

Magic Valley Custom Homes come standard with a range of energy-efficient features, including spray foam insulation3 (which also helps keep pests out and reduces outside noise), a multispeed HVAC system that conserves energy while enhancing air quality and reducing humidity compared to typical HVACs, and Low-E windows designed to reflect heat from the sun and block rays from the interior window pane.

These features contribute to reduced energy consumption and lower utility bills for homeowners. For instance, Alex, a Meritage homeowner from Hayward, California, reported substantial savings, stating, "We cut our monthly energy bill by 70% to 80%."4

What Lies Ahead?

In the grand scheme, homebuyers are raising their expectations when it comes to homebuilders. Beyond offering energy-efficient advantages that lead to cost savings, consumers are also emphasizing environmental responsibility. According to survey data, over two-thirds of respondents are inclined to purchase a home from a company that aligns with their personal beliefs in terms of environmental messaging and practices.