You pay more for organic food, hybrids, and naturally made furniture, so you probably expect to pay more for an energy efficient house. Well, according to a new econometric study you will buy and sell a green home for more in South Florida and across the United States.
The research for the study was conducted by professor's Matthew E. Kahn of UCLA and Nils Kok of Maastricht University in the Nertherlands. The study shows that an EnergyStar rating on a home can increase the value of that home by 9 percent. Homes with energy-saving and sustainability features are not only selling for more but seem to be in demand by buyers.
Rob Hink, President of the South Florida chapter of the U.S. Green Building Council said that former vice president Al Gore has increased awareness about global warming, which has increased the demand for homes that don't pollute. This demand for green homes has led to an increase in builders interested in constructing green homes.
The research for the study was conducted by professor's Matthew E. Kahn of UCLA and Nils Kok of Maastricht University in the Nertherlands. The study shows that an EnergyStar rating on a home can increase the value of that home by 9 percent. Homes with energy-saving and sustainability features are not only selling for more but seem to be in demand by buyers.
Rob Hink, President of the South Florida chapter of the U.S. Green Building Council said that former vice president Al Gore has increased awareness about global warming, which has increased the demand for homes that don't pollute. This demand for green homes has led to an increase in builders interested in constructing green homes.
Many green luxury oceanfront condos and single family homes are being built from Palm Beach to Miami. This is becoming an appealing option due to the increase in resale price and because of the health effect.
This rating is being sponsored by the U.S. Department of Energy and the Environmental Protection Agency. An EnergyStar rating rewards home designs that decrease heating, cooling and water costs as well as improve indoor air quality. This certification was created by Build it Green, a nonprofit group located in California. The certification can be used on existing homes and newly constructed home.
The National Association of Realtors is opposed to an EnergyStar rating system. They think that a rating like this can affect the price of existing homes. On the other hand, the National Association of Home Builders is in favor of this rating as a selling point for newly constructed home. Many buyers today are looking for energy-efficient and environmentally friendly homes.
Developers have been using this new direction in housing construction as a way to get around the issues in the housing market. In many cases it seems to be working.
Seaside Properties Group, Inc. has connections with developers who specialize in constructing green luxury properties from Palm Beach to Miami.
Buyers in South Florida and across the country are becoming more aware that there are many benefits to owning a green house. Not only will they save money on electricity and water bills, but they will also reap many health benefits.
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