Waiting for the inspiration for my newest blog, I was reading the latest issue of Real Estate magazine issued by the Ca. Assoc. of Realtors, and came across an article about a study of the value of green homes and their impact on a home’s value depending on the community in which they are located.
They did a cross study using the criteria of how many hybrid car owners are registered in particular areas and they found that areas influenced most by the value of green homes depend on local climate (hotter areas yield the better results) and the local environmental ideaology (as measured by the rate of registration of hybrid car owners) in a particular area.
The belief from this study is that some homeowners, and home buyers do attribute an intangible or intrinsic value to having a green home or a LEED certified home, such as the pride received from this, or perceived status.
While having a LEED certified home may not be a reasonable financially for all homes, especially older homes, as a realtor I do see a very reasonable connection to the value of making green choices when you do invest in your home. These green choices can provide an excellent marketing opportunity now or when you are ready to sell one day. A way your home can stand out against other homes in a competitive market.
Happy house buying, selling or improving!