Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Electric cars are forcing real estate to change gears

10/04/2017

Download PDF

Analysts predict that within a few years, electric cars will cost about the same or less than their gas-powered cousins, and electric vehicle (EV) sales are expected to surge. Though range could still be an issue for some drivers, EVs do have one major advantage: you can charge them at home. No more side trips to the gas station, no more waiting in line, no more pumping gas in the rain, sleet, snow or gloom of night.

In fact, surveys show that most EV owners prefer to charge in the comfort of their own homes, where they can go about their lives while their vehicle quietly juices up.

To sweeten the pot, some states and utility companies offer tax incentives and rebates that apply to charging at home.

EV charging stations for existing homes

All of this is could be good news for homeowners seeking ways to enhance their property prior to sale. Costs for retrofitting a home with a charging station vary widely depending on the home, type of charger and electricians’ bills, but they are reasonable. They can easily dip below the $600 range, especially in areas with tax incentives and utility promotions.

When it comes to new construction, the equation is even simpler. The infrastructure for EV charging stations typically adds no more than a few hundred dollars to total costs, and with the growing popularity of EV’s, they may soon become a standard feature just like any large home appliance or fixture.

How EVs are influencing the new home market

The City of Fremont, California — home of Tesla — recently took steps to require new homes, apartment buildings and commercial properties to be wired for charging stations. The new ordinance also requires solar panels.

How agents dominate with multichannel content marketing Win listings and overwhelm competition by mastering the art of social media, direct mail and email READ MORE

The transition to EV mobility could also dovetail with Airbnb as hosts with existing homes look for ways to attract a growing number of guests with EVs.

Rental property owners are also beginning to view EV charging stations as key amenities that attract tenants without taking up too much space.

That trend is especially evident in the luxury market. The EV charging company SemaConnect offers this insight:

We are seeing that the Class A properties tend to be the early adopters. EV charging stations on these properties are considered an amenity, like access to a gym or concierge services. In many parts of the country, it is expected that EV charging stations will be on the premises, especially with any new construction projects.

EVs and sustainability

This trend is not just limited to EV-friendly California: developer Mast Capital launched an EV-ready residence in Florida last year, and apartment house leader LMC recently announced EV amenities at new residences in Washington State and Indiana.

In a press release last summer, LMC development associate Travis Nordgaard emphasized that prospective tenants who drive EVs expect to be accommodated. “We do everything we can to check every box on a prospective resident’s wish list,” he said.

Nordgaard also brought up a broader point about the emerging bond between EV ownership and residential properties. He said that the company’s partnership with leading EV charging station developer ChargePoint gives it the opportunity to “demonstrate green, sustainable values.” That kind of green branding will grow in importance as sustainability becomes a force in the mainstream real estate market.

EVs and the connected home

Toni George of Weichert Realtors has been selling properties in Summit, New Jersey and surrounding upscale communities for 25 years. In an exclusive interview with Inman, she described EV-readiness as part and parcel of a broader trend: “New construction accommodates today’s lifestyles and how we’ve changed, especially with two-income households. New construction checks off all the boxes, which includes being able to hook up an EV in a two- or three-car garage…”

George’s insights are partly informed by her husband Chris, whose company, Summit Custom Builders, wired its first home for EV charging as far back as 2006.

Gas-powered generators were once considered a luxury, and now they are a convenience. Similarly, EVs will eventually be like another appliance in that market. The demand for “smart home” and remote-control technology is already pushing EV-ready features into the market for new luxury homes. It’s only a matter of time before the EV trend emerges in the mass market, too.

Tina Casey has been writing about sustainability, alternative energy and energy efficiency since 2009. Her articles appear regularly in CleanTechnica.com, where she is a senior reporter, and TriplePundit.com. Follow her on Twitter.

Email Tina Casey.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

March 2024
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...