Green-certified homes produce more green
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Do energy efficient features increase a home’s selling price?
- Yes. (51%, 27 Votes)
- No. (49%, 26 Votes)
Total Voters: 53
Does a green-certified home really pay off?
A recent UCLA study considered homes sold in California from 2007 through early 2012. Of the 1.6 million homes sampled, 4,321 sold with Energy Star, LEED or GreenPoint ratings and certifications. Controlling for factors such as location, when the home was sold and its amenities, the study found these energy-efficient, green-certified homes sold for 9% more than non-certified homes.
The payoff was greater in areas where green efforts were already supported by community members (measured by the number of registered hybrid vehicles)and in warmer areas (where energy use adds up quickly due to the constant necessity for air conditioning), such as the Central Valley.
Despite the small number of green-certified homes identified in the study, some relish the idea of a mandatory, industry-wide rating scale for energy efficiency. The National Association of Home Builders encourages such a mandatory system, since full disclosure of energy ratings would benefit new homes, as newly constructed homes are required to be more energy efficient.
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About The Author
Carrie B. Reyes
is lead writer in charge of the Real Estate Practice and Due Diligence and Disclosures books.
With the state of California on the brink of financial insolvency I do not understand the infatuation with such pop-cultural distractions like “green” houses or going “green.”
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