fbpx
In Home Electric Vehicle Charging Stations
In Home Electric Vehicle Charging Stations increase a home's resale value and reduce the time on the market when selling. It is an inexpensive investment for a piece of equipment that supplies electrical power to an electric car.  In metropolitan areas over 60% of home buyers are requesting in-home electrical vehicle charging stations in their homes.
In Home Electric Vehicle Charging Stations
In Home Electric Vehicle Charging Stations increase a home's resale value and reduce the time on the market when selling. It is an inexpensive investment for a piece of equipment that supplies electrical power to an electric car.  In metropolitan areas over 60% of home buyers are requesting in-home electrical vehicle charging stations in their homes.

In Home Electric Vehicle Charging Stations increase a home’s resale value and reduce the time on the market when selling. It is an inexpensive investment for a piece of equipment that supplies electrical power to an electric car.  In metropolitan areas over 60% of home buyers are requesting in-home electrical vehicle charging stations in their homes.

Tesla, Hyundai, Chevrolet, Ford all offer home Electric Vehicle Charging Stations as an option to the auto buyer. As more car manufacturers add electric vehicles to their fleets, those who own or lease them know the value of having a charging station in their single-family house, multifamily condo, or apartment building.

A charging station’s popularity is only expected to grow. A recent report by Bloomberg New Energy Finance shows that by 2040, electric vehicles will make up the majority of new car sales worldwide and account for 33% of all light-duty vehicles on the road.

Another factor fueling numbers may be the increase in companies manufacturing charging stations, says Cassie Layton, senior director of marketing at El Segundo, Calif.–based EV Connect, a firm that develops software for the stations—what she calls the “brains behind the units.”

But exactly how important are charging stations to home buyers as they shop for their next home?

 

“It’s a plus but not a necessity—yet,” says real estate salesperson Stephanie Mallios, with Compass RE NJ in Short Hills, N.J., who works with buyers of single-family homes, townhomes, and condos. Many equate it to a hip amenity like a Nest thermostat, wine refrigerator, or yoga room, she says. “It shows the homeowners are cool, and that future buyers will have one less thing to do,” says Mallios, who built two charging stations into her own home’s garage.

At the same time, it’s wise to share with buyers that the amenity’s appeal may be greater with cohorts of certain ages and certain geographic markets. For example, in San Diego, salesperson Ayush Vats with Willis Allen Real Estate says he is seeing more first-time millennial buyers actively look for houses with charging stations.

It’s among the top five features 60% to 70% of these buyers want, in part because they own an EV or intend to purchase one in the next year or so, Vats says. But it’s also because of their ideology that they want to be green. As a result, he finds it’s easier to market a house with at least one station, he says.

But Vats finds that if a house lacks a charging station but has everything else a buyer wants, it doesn’t kill the sale. Most stations he sees are located in a garage, but some are on the side of the house.

Architect Joshua Zinder, a managing partner at JZA+D in Princeton, N.J., is among those who think a station is a good investment. “The developers and builders we work with are considering support for EVs for all residential projects, both single- and multifamily,” he says.

Zinder also finds that EV-ready homes command a premium in most markets. He added to his home a charging station with a 110-volt outlet, providing an overnight charge for a range of 30 to 50 miles, which suits most of his day-to-day needs.

When it comes to the multifamily housing market, charging stations seem to command a high level of interest, and more developers are including the feature or at least wiring buildings they’re constructing so they can be added. “It’s less costly to do so at the start of a project than as a retrofit,” says developer David Goldman, co-CEO of Chicago-based Belgravia Group, whose firm now designs all its multifamily buildings with stations. “It’s not even a question if we do it anymore,” he says. And Dranoff Properties, in Philadelphia, included four at its One Riverside project and will have eight at its Arthaus development.

  • One of the newest amenities builders are including in housing developments to attract buyers is the electric vehicle charging stations.
  • Developers are including charging stations in new multifamily buildings to future-proof their investment.
    Even if they’re not installed in a new development, more builders are adding wiring to homes and buildings so charging stations can be added later.
  • Options and costs vary so the amenity warrants good research.

LIST OF BLOGS

Moving Scams: How to Spot Them

Moving can be stressful enough without having to worry about being scammed by a moving company. Unfortunately, there are unscrupulous movers out there who prey on people who are in the midst of moving. To protect yourself from being scammed, it's important to be aware...

Which types of showings work

A showing is an opportunity for a buyer to determine if a home is right for them. Each of the different types of showing plays a valid and necessary role in marketing the home. Some buyers may start by looking at homes online, which can lead them to drive by the home...

How homeowners can avoid mortgage relief scams

Homeowners who are facing financial difficulty are often targeted by mortgage relief scams. These scams can be very convincing, and homeowners may be desperate for help, making them vulnerable to these schemes. Scammers often pose as government officials or mortgage...

Discover the benefits of an FHA Assumption

With new mortgage rates approaching 8%, many buyers have decided to wait for rates to come down. While there may be some easing in the fourth quarter of 2023 and 2024, assuming an existing FHA mortgage with a lower rate made in the last three or four years might be a...

Discover how to go from stress to success with your home move

Navigating a real estate transaction, which often involves substantial financial investments and emotional considerations, can understandably induce stress. To streamline this process, adopt these effective strategies that promote a smoother journey. Begin by clearly...

The Net Worth Advantage: Homeowners vs. Renters

The decision to rent or own a home is not just about having a place to live; it also has significant implications for your financial future. One key aspect that often comes into play is net worth ... the value of your assets minus your liabilities. Numerous studies...

The Danger of Do-It-Yourself Divorce

Ken & Barbie have been married 20 years and have owned their current home for over 10 years. Without the benefit of legal or tax advice, they decide to divorce with Ken taking his retirement and Barbie taking the equity in the home which are equal in value. It...

Exploring Down Payment Sources for First-Time Homebuyers

Aspiring homeowners can overcome the challenge of saving for a down payment by taking advantage of various sources of assistance. Discover a variety of down payment sources available to first-time homebuyers, from family gifts and retirement account withdrawals to tax...

Your Referrals Mean the World to Us

Referrals are the lifeblood of any business, and real estate is no exception. When someone you trust refers you to a service provider, you're more likely to do business with them because you know that they've been vetted by someone you know and trust. That's why we're...

Awareness is Key to Safeguarding Against Scams

When it comes to safeguarding against scams, awareness is key. By being vigilant and recognizing consistent red flags, you can effectively thwart scammers in their tracks. Stay one step ahead and keep an eye out for these warning signs to protect yourself from falling...

RECENT POSTS

ABOUT  TWENTY
THREE HOMES

The Twenty Three Homes are one of the premiere real estate groups locally, nationally and internationally, specifically dealing with high-end properties and exclusive clientele. Partner with Keller Williams Twenty Three Homes are full service real estate experts whose clients benefit from the custom tailored, hands on service while receiving all the exclusive amenities and resources of one of the most established and respected firms in the business.

GET IN TOUCH