While most people are interested in building custom homes,
consider the following information when deciding to "go green".
Looking at roughly 66,000 home sales in the San Antonio area between October
2008 and September 2013, a team led by University of Texas at San Antonio
professor Thomas Thomson examined the relationship between a home’s “green”
features and its selling price.
Homes advertising a
specific feature designated in MLS as “green,” like a low-flow toilet or an
enhanced air-filtration system, meanwhile, saw a 1.7% price increase.The
researchers found that houses classified by the multiple listing service as
having a “green” designation such as LEED certification enjoyed a modest 0.7%
boost in sales price compared with comparable homes without such a
certification.
The largest price bump,
though, was reserved for homes listed as having “energy efficient” features
such as high-efficiency HVAC systems or dual pane windows. Houses with these
amenities sold for 5.8% more than comparable homes without them.
The findings, Prof.
Thomson says, suggest that while environmental concerns influence home buying
decisions to an extent, at the end of the day people are most interested in
features that will impact their bottom line.
“That does appear to be
the strongest component,” he says. “Which makes sense, because while some
people might be motivated by environmental reasons, pretty much everybody can
be motivated by saving money.”
Prof. Thomson notes, as
well, that certain “energy efficient” features offer advantages beyond savings
on gas and electricity bills. For instance, efficient HVAC systems also tend to
be more comfortable in that they maintain a steady inside temperature with less
dramatic heating and cooling cycles. Better insulation and double-pane windows
not only reduce energy costs, but make a home quieter, as well.
The results may vary
with region. For instance, the study identified some water conservation
features as highly valued, a finding Prof. Thomson says could reflect the
specific demands of the San Antonio market from which the data was collected.
He added that buyers in milder climates with lower utility bills might put less
of a premium on “energy efficient” as opposed to “green” features.
Interested in building a
custom home? Please do not hesitate to call us at Landon Homes, (904)567-3430!
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