Homebuyers increasingly investing in green tech

Pay more to get less? That’s one way of looking at how homebuyers are looking at being willing to spend more on a house that promises to have less of an impact on the environment. According to an article in Realtor Magazine, the National Association of Home Builders (NAHB) surveyed more than 3,000 home buyers—both recent and prospective—on the features, they most desire in their new home, and many buyers said they’d go with the more sustainable option, such as the use of more durable materials in their home when presented the option.

Once the overall cost savings of these features are pointed out, they may be even more tempted—and they say they are willing to pay upfront to help lower their utility bills. “On average, buyers would pay up to $9,292 more for a home in order to save $1,000 annually on utility costs,” according to the NAHB’s study.

Ever conscious of how much more meaningful the word “home” is after a year-plus long pandemic that had us staring at the interiors of our homes ad nauseam, RealtorMag quoted green homebuilder Brandon Bryant: “We’re doing a lot more in our homes now,” he said during February’s virtual 2021 International Builders’ Show. He added that education is key. “We’ve got to teach people how to live in green homes, how these homes operate, and even before we build to let them know what we could do because a lot of times we could do so much more for their life.”

Some of the top eco-friendly components and designs consumers said they desired included Energy Star–rated windows and appliances, efficient lighting that uses less energy than traditional bulbs, and an Energy Star rating for the whole house. Many of the other features they look for the center around health and wellness, such as zone heating, purified air appliances (like UVC fans), indoor air quality sensors, and connections to the outdoors, the NAHB said.

“There is a wide range of green features that buyers feel are desirable,” said Paul Emrath, vice president of surveys and housing policy research at the NAHB. “Energy efficiency, though, tops the list of what they most want.”

Source: RealtorMag | TBWS