With sales of existing homes falling 0.3% to a seasonally adjusted annual rate of 5.99 million down from the upwardly revised 6.01 million in April, according to the National Association of Realtors, and sales down 10.3% from just a year ago and off approximately 17% from the peak, what can builders and homeowners do to differentiate themselves from the 4.43 million homes currently for sale on the market?
Building or remodeling with Green products is the perfect way to do just that.
According to a survey conducted by the National Association of Home Builders and McGraw-Hill Construction, 85% of homeowners said they were more satisfied with their new green homes than with their previous, traditionally built homes. The survey allowed respondents to state more than one reason for buying an environmentally friendly home; showing that nearly 50% of those surveyed said that concern for the environment was a reason to buy a green home, and the same percentage held that their family's health was a reason. 63% stated lower operating and maintenance costs motivated their purchases.
Additionally, homebuyers were willing to pay a higher price up front to get those benefits. "We found that people buying green homes were willing to pay an $18,500 premium in order to get a green home," said Harvey Bernstein, vice president of industry analytics, alliances, and strategic initiatives at McGraw-Hill Construction.
To be classified as, "Truly Green", homes must include three or more products or features addressing the following:
