Although new homes and home renovations in the United States increasingly include green elements, the number of LEED-certified homes is only about 20,000. Sean Murphy, a builder in the Long Island Sound area, estimates building to LEED requirements increases construction costs by 20 percent. “As a result, contractors and architects are reluctant to approach clients—even Wall Streeters—with the whole package, and instead suggest energy-efficient windows, foam insulation, and sometimes geothermal heating and cooling systems, which offer a faster payback on their investment,” Murphy says. Some clients do not feel LEED certification will help the resale value of their home. Other elements of LEED requirements, such as solar panels or using only locally accessible materials, are eschewed in favor of more aesthetically pleasing choices. Although solar panels have become more attractive and cost-effective, complex roof styles, large trees, and cost barriers remain. Most customers are not opting for Boniello Builders’ energy-efficient package that adds $100,000 to the cost of a new home. “Especially in today’s market, we’re competing with the used-home market and a lot of distressed sales,” says Jim Boniello. “There are good deals out there these days, and the bottom line is that a lot of buyers I talk to aren’t willing to pay for the extra costs of going green.” | Read More
Recent Posts
- DOJ gets its way in buyer broker compensation suit
- Opinion: Why agents are more essential than ever
- Truework and Revvin partner to enhance income verification services for point-of-sale systems
- DataDigest: New data shows how brokerages, agents, landlords & homebuilders were reshaped by the pandemic
- Mortgage applications slump after rates surge to 23-year high
Archives
Categories
- Decor (1,395)
- Energy Saving Tips (15)
- Green Design (22)
- Greening Tips (1,378)
- Home Improvement (2,349)
- Home Remodeling (16)
- Home Security (10)
- Homeowners News (1,265)
- Homeowners News;Top Story (3)
- Housing and Mortgage Trends (1,658)
- Insurance (1)
- Maintenance and Repair (10)
- Safety (4)
- Smart Home Tech (1,118)
- Top Story (106)