Help Your High-Performance Home Appraise as it Should

Filed in Environmental, Housing Finance by on March 12, 2018 0 Comments

houe, piggy bankAs any green home builder can attest, getting accurate valuations on high-performance homes is no easy feat. The sustainability and efficiency built into the building envelope, and measures taken to improve indoor air quality, water efficiency and HVACR system performance are not often visible to the untrained eye.

Luckily, builders can protect their investment and realize the full market potential of their home.

One option is add a contract clause that requires the lender to hire an Accredited Green Appraiser (AGA) with expertise in high-performance buildings. AGAs can be found through the Appraisal Institute Green Registry or EarthAdvantage.

Once an AGA has been selected, ensure that he or she is using the Appraisal Institute’s Residential Green and Energy Efficient Addendum. This addendum to Fannie Mae Form 1004 is a reporting method that highlights the high-performance aspects of a home. The institute also has a Commercial Green and Energy Efficient Addendum for multifamily properties.

Single-family builders certifying their homes through the National Green Building Standard Green Certification Program receive a pre-populated version of the addendum with each certificate, as well as a guide on how to complete and distribute the addendum.

For additional information about NAHB high-performance building initiatives, contact Jaclyn Toole at 800-368-5242 x8225.

 

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