 |
 |
 |
 |
 |
 |
WHY INVEST IN GREEN REAL ESTATE?
Why Invest in Greener Homes?
An increasing number of consumers and builders today are recognizing the added value of green features in real estate. Such investments not only benefit our environment, they help homeowners save on their energy bills and create healthier, more comfortable living spaces.
Energy Efficiency
Indoor Air Quality
Environment
What's Next?
Homes are responsible for 20% of our nation’s annual fossil fuel consumption. US petroleum reserves are already in decline and known world reserves will likely be in decline by 2010 – 2020. As the population doubles in this century, the price of oil will become too expensive to burn regularly for heat and electricity. Most of the houses being bought and sold today are extremely inefficient, costing owners big bucks on wasted energy. The average home’s heating system is only about 60% efficient when kept in top condition. If not maintained regularly, these systems often run at less than 50% efficiency.
As a consumer, it is important to be aware of energy usage and the associated long term costs. There are many products and services available today to help reduce your gas and electricity consumption without requiring changes to your lifestyle. Energy efficient technologies are saving Americans over $8 billion annually. For every $1 reduction in annual utility bills, a home’s value is estimated to increase by $20.
Americans spend about 90% of their time indoors where levels of pollutants are typically between two and five times higher, and sometimes more than 100 times higher, than outdoor levels. Combustion sources such as oil, gas, kerosene, coal and wood are common contributors. Cabinets, countertops, shelving and furniture are often made from particleboard that is glued together with formaldehyde, a suspected carcinogen. Paints, stains, carpeting and air fresheners often contain dangerous Volatile Organic Compounds (VOCs) and Hazardous Air Pollutants (HAPs). Inadequate ventilation can increase these indoor pollutant levels, as can high temperature and humidity. Contaminants such as dust mites, molds, cockroaches, pet dander and secondhand smoke trigger attacks in a growing number of asthma patients. Large increases in childhood illness, including asthma, allergies, chemical and environmental sensitivities, respiratory disorders, cancer and ADD have all been traced to indoor air pollution as a source.
Fortunately, safer non-toxic alternatives are readily available for building materials and cleaning supplies. These products are more affordable than ever and are great options for conscious, health-minded consumers. Homeowners can reduce the presence of combustion gasses in the air with sealed-combustion furnaces and power-vented water heaters. Improving a home’s ventilation is an important step in reducing the level of pollutants and can be accomplished with some simple measures to increase the exchange rate of air through the house while keeping a well-sealed energy efficient home.
In addition to the over-consumption of precious energy resources and the pollution of our air and water, the housing industry negatively impacts the environment in other ways. It is responsible for 20% of the CO2 emissions and therefore a significant contributor to global warming. Housing accounts for 60% of all lumber cut in the US. A typical 1,700 square foot, wood-framed home, for instance, requires the equivalent of clear cutting one acre of forest. Housing development fills up our increasingly crowded landfills with construction debris and waste, of which only 17% gets recycled. Home construction, remodeling and demolition account for 25 to30% of municipal solid waste in this country.
The earth can not continue to sustain these practices, but it is not too late to improve how we live on and with our planet. Through smart choices we can preserve our natural habitats, watersheds and ecosystems, conserve our natural resources and reduce greenhouse gas emissions and solid waste. Reducing the average home’s energy use by 30% will reduce CO2 emissions by about 34,000 pounds over a 30 year period. Homes built with farmed trees and more efficient green designs lessen the destruction of deforestation. Sustainable and recycled materials help ease the stress on the nation’s landfills and can be more durable and cost effective than their traditional counterparts.
As the real estate industry and the public become more aware of the benefits of green building and retrofitting, there is a shift in the marketplace, bringing increased value to such properties. People are beginning to think about the long term advantages of energy efficiency, comfort, healthy surroundings and environmentally responsible living. Countless options and resources are available in the North Bay for homeowners and buyers to make such investments, from low cost home improvements to larger renovations and solar installations. Each step we take towards a greener home is a step in the right direction.
For more information on how you can have a greener home, or to receive a free list of helpful green tips, please contact us.
