When it comes to developing amortization schedules for homeowners, there are many factors that need to be considered. However, individuals need to decide on multiple facets before they even choose to invest in property.
An increasingly common trend is for businesses and individuals to "go green," and try to stay as environmentally friendly as possible. That same mindset has been transferred to the housing market.
According to the Inman News, a real estate and technology blog, the state of Colorado is pairing up with The Appraisal Institute to assess the impact of energy efficiency and other "green" features on the value of existing homes.
The Appraisal Institute set up a memorandum of understanding (MOU) with the Colorado Energy Office to collect information and identify trends that potential homeowners want in their houses. The organizations told the news source that it's important to see what type of improvements consumers might want to make on their homes.
"Without relevant information and data, the stakeholders in real estate transactions are less able to consider energy use as a criterion to distinguish between properties in purchasing and selling decisions, diminishing recognition of possible benefits of energy-saving improvements," the MOU said.
As reported by the news source, experts have taken notice of the push to go green, specifically that the green building market is poised for growth with net-zero-energy real estate. That means creating houses that generate as much – if not more – power as they consume.
With new standards possibly being created for homeowners to choose their property, lenders would definitely be wise to invest in loan management software. Individuals who might not normally have chosen to invest in a home might change their minds if they come across more energy-friendly housing.