Green homes: The value proposition

Media Release
17/11/2010

Green homes: The value proposition

Eco-friendly homes are the way of the future. Recent research from the United States shows green property has been seen to achieve values at least 10 to 15% higher than comparable homes. The home performance study found the green home movement is gaining momentum and more cities in US have had an increase in certified green homes and homes with green features. In New Zealand, we are likely to see a similar pattern emerge – with more green home building as people realise the impact of our country’s residential sector on the environment.

In the US alone, the residential sector accounts for 22% of the total energy consumed in the nation and 74% of the water. It also contributes to carbon dioxide emissions. The considerable impact on the environment created by homes makes this shift towards sustainable residences inevitable.

Green home building addresses these environmental issues by promoting the design and construction of homes that have much a higher performance level than homes built to the minimum building codes.

Generally, green homes are healthier, more comfortable, more durable, and more energy efficient and have much smaller environmental footprint than conventional homes.

This research also shows that energy certified homes in the Seattle metro area sold at a price premium of 9.6% when compared to noncertified counterparts, based on a sample of 68 certified homes. In the Portland metro area, certified homes sold at a price premium ranging between 3% and 5%. In addition, the certified homes stayed on the market for 18 days less than noncertified homes.

Many green measures, particularly those that involve energy and water efficiency, will reduce long-term costs on both the environment and the homeowner’s bank balance. Reductions in operating costs can more than offset the additional up-front costs of a green home, creating what’s known as a triple bottom line (people, profit and planet) for the savvy homeowner.

ENDS

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