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Hi - I wanted to get an opinion from the real estate experts about a house being 'green certified' and if this is gaining in popularity. Currently, I don't see this advertised in the houses in my area, but if it is becoming more important I would like to do this for resale later.
So, do you think this will be a competitive edge for resale down the road?
IMHO in my market it will be a nice descriptive feature. Buyers may chose it over another house of similar price especially if you could tout the savings in utilites. I don't think it would add to the actual value of the home.
I have 20+ years of experience in real estate and HAVE SEEN PERIODS where 'super insulated' homes and other ways to reduce energy consumption WERE emphasized by builders. Without exceptions times CHANGE and what is considering "too far out" NEVER is widely accepted. People DO NOT LIKE complicated systems in their homes!
The 'mainstream' energy conservation of a decade ago become INADEQUATE as technology advances. People will not pay a premium for system that were "state of the art" once they too become OLD and possibly need replacement.
Even the TECHNIQUES that some folks espouse for making home capable of higher insulating values have DOWNSIDES -- deeper 2x6 walls lead to LESS interior space and in areas were sq ft is the BE ALL AND END ALL this hurts value. Extra "airlock" type entry ways are similarly SPACE HOGS that do not comp out well.
There are just not enough Americans that routinely choose really low quality foods and other products to support a "smart consumerism" type movement and I think that except in a handful of unique communites (mostly near college towns and such) even a "LEED Platinum Certified" home would NOT be anything that the MAJORITY of buyers would give two hoots about.
Have you honest EVER seen a MLS type real estate listing that says anything about "ultra low carbon foot print" for a used home? Do you really believe the MASSIVE change in mindset that s needing is going to happen? Guys like Bill Nye and Ed Begley Jr are OUTLIERS and not really represntative of anything...
IMHO in my market it will be a nice descriptive feature. Buyers may chose it over another house of similar price especially if you could tout the savings in utilites. I don't think it would add to the actual value of the home.
I disagree. I think, and know, that it WILL add to the actual value of the house.
If Cap and Trade (American Clean Energy and Security Act) is ever enacted, I wonder if you did own a 'green' home today, would there be a benefit when you resell the same 'green' home tomorrow?...sort of like a grandfather clause where you wouldn't have to make costly upgrades to keep up with the latest technology.
Low toxicity homes don't "outgas" toxic air. I have friends with chemical sensitivities who will pay a lot more for a "green" home. Safe air is a must in hot climates, because varnishes, etc heat up, and release fumes. Plastics give off fumes. Just walk into a new RV when it's been shut up for a day in 100 degree temps. A well built green home takes mold into consideration, paint, wood preservatives, etc.
I disagree. I think, and know, that it WILL add to the actual value of the house.
Where I work appraisals give most of the weight on price per sq. feet. Constuction material is of only minor importance i.e here brick appraises the same as vinyl siding.
Is there one certifing body to declare a house "green"? Is it a tangable improvement? Bamboo floors over oak?
We do have a local builder building 'Energy Star" homes. It has not made thier houses worth more. The buyers we worked with basically said "Oh that's nice maybe we will save a little money each month"
You know we have a subdivision out here that is solely green living. It is really struggling because the costs of the homes is so expensive. All things being equal a green home would be chosen over a regular house by most buyers, but it can't cost too much more than the comps or it isn't worth it for people. They still have to afford the mortgage payments.
Every attribute to a home can be a selling point.
With each passing year - the tech will change. Green today will be brown tomorrow. Today's state of the art holds that state for a short period of time. So, I don't see the green cert. as a major resale point.
You know we have a subdivision out here that is solely green living. It is really struggling because the costs of the homes is so expensive. All things being equal a green home would be chosen over a regular house by most buyers, but it can't cost too much more than the comps or it isn't worth it for people. They still have to afford the mortgage payments.
If those h0omes are truly green the other houses wouldn't be comps, would they. Just because there is a sale does not automatically make that sale a comparable.
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