Austin Real Estate | Conserving Energy, Money and Time in Texas

Home buyers in today's market are faced with more than finding a piece of property for the right price. Now homes need to be equipped with the latest technology, including green, sustainable building practices and architecture that is both pleasing to the eye and good for the landscape and environment. But if you are a savvy investor you can find the right deals with the right features in the ideal market. Now is the time to buy if your credit, capital and security are in order.

Come Monday, many Austin home sellers will have one more chore, along with touching up the paint and sprucing up the yard, before putting their house on the market.

That's when a new city ordinance kicks in that requires sellers of homes older than 10 years to get an energy audit and disclose the results to prospective buyers.

City leaders who approved the audits last year said it was one more way to reduce Austin's energy consumption and make Austin greener, although sellers are not required to make any improvements as a result of the audit. The idea is to encourage sellers or buyers to make their houses more energy-efficient.

But with the requirement taking effect in a slower housing market, some real estate agents say it could delay or torpedo sales and will add costs for sellers.

"There's never a good time to add fees to a transaction," said City Council Member Mike Martinez, "but I think this requirement is a good thing. It allows the consumer to fully understand the purchase they're about to make. If you spend hundreds of thousands of dollars on an investment, you would want to know how efficient that investment is going to be for you."

As for sellers who may be concerned that the ordinance could hurt their negotiating power, Martinez said: "It's no different than a home inspection. The consumer needs to know what they're buying."

The audits are expected to cost $200 to $300 for a typical home of 1,800 square feet or less. Austin Energy anticipates that 3,000 to 4,000 homes a year will be audited under the ordinance.

Jay Gohil, chairman of the Austin Board of Realtors, said the ordinance "is reasonably acceptable for buyers as well as sellers."

The board was represented on the task force that created the ordinance, along with contractors, city officials and others, and fought successfully against any provision that would require sellers to make energy upgrades.

So there you have it, Austin real estate is primed for a large, positive change. Act now and you could reap huge rewards.




Michael Russell writes about a variety of subjects. This article discusses Austin real estate. For more information, visit the Real Estate Book.