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

How to find a Herndon home for Sale at a Reasonable Price

How to find a Herndon home for Sale at a Reasonable Price Using a free online search tool is good, but it does not consider buying strategies, insight into creative finances, long-term economic trending, and repair vs. replace cost benefits.  Here is why working with...

Own a home is the key to Wealth Homeownership is the key to …

Own a home is the key to Wealth Homeownership is the key to Wealth, home owners have 40 times the house wide range than tenants. One more impressive fact is that homes have 68% of their wide range in their main home! Property owners have 40 times the home riches than...

What percent people Families Have their Entire Wealth Locked…

What percent people Families Have their Entire Wealth Locked Up in their Home Property owners have 40 times the home wide range than occupants. One more impressive figure is that homes have 68% of their wide range in their key home! Home owners have 40 times the house...

Home ownership is the secret to Wealth

Homeownership is the secret to Wealth, homeowners have 40 times the household wealth than renters. Another astonishing statistic is that households have 68% of their wealth in their primary residence! Leveraging the philosophical cliché “Time is money” is not only...

Why a Home Should Be Your First Investment

Real estate has been described as the basis of all wealth. Without considering income or investment property, buying a home to live in is an incredibly powerful way to build wealth or financial net worth. A home is an asset measured by the size of the equity. Equity...

Paying Points to Lower the Rate

Two commonly known ways to lower your mortgage payments are to make a larger down payment especially if it eliminates private mortgage insurance and improve your credit score before applying for a mortgage. Another way to lower your payment would be to buy down the...

I wish I knew then…

We have all heard this expression that implies that had a person known earlier in life what they know now, they would have done things differently. The subject possibilities are endless While no one has a crystal ball to see into the future, it may be possible to...

Your Home is a Hedge Against Inflation

The concern about inflation is the sustained upward movement in the overall price of goods and services while the purchasing value of money decreases. Tangible assets like your home consistently become more valuable over time. In inflationary periods, your home is a...

Why is the APR higher than the interest rate?

Annual percentage rate is a calculation to accurately reflect the cost of the mortgage considering the note rate of interest, financing fees and charges based on the term of the mortgage. Annual percentage rate, APR, calculates the interest rate and loan fees over the...

RECENT POSTS

I wish I knew then…

We have all heard this expression that implies that had a person known earlier in life what they...

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