Going Green Achieves Better Resale on Your New Home

As New Zealander’s knowledge of the benefits of building green grows and becomes more mainstream, so will the expectations affecting the decision-making process when buying.

1. Overseas research has shown that in a competitive market, green homes have proven to sell not only faster but for more money.

2. Demand for healthier, sustainable homes is up 10-fold since 2015, according to a new report being compiled by the NZ Green Building Council. Over the last two years there has been a significant increase in new green homes registering under the Homestar rating tool. New Zealanders want reliable, independent assurance they are buying and building, healthier homes that attain high standards of sustainability and efficiency.

3. Andrew McKenzie from Housing New Zealand says: “The demand for sustainable, well-performing buildings and homes has become mainstream. Housing New Zealand is driving hard at providing warmer, healthier homes for New Zealanders. This aligns with the New Zealand Green Building Council (NZGBC) vision of better quality homes. The NZGBC recently welcomed the Auckland Airport, Housing NZ, Tamaki Regeneration Company, Watercare and RCP as members.  These organisations are further proof of the New Zealand property sector’s increased uptake and buy-in of green initiatives.

4. Auckland Council Environment and Community Committee Chair Penny Hulse said homes that receive Homestar ratings are the type of housing we want more of. “They help homeowners save money, result in better health and well-being and help reduce our climate impacts.”

5. An overwhelming 9 out of 10 New Zealanders rate good sun and insulation as important or very important when choosing a new home – far outweighing other factors. Real life performance rather than cosmetic features is increasingly crucial.

6. Nationally, 77% said making their home more energy efficient was a priority. Kiwis considering selling their homes believe it is worth upgrading performance – 88% think energy-efficient features have the potential to attract a premium price. Efficient features like LED lighting and double glazing were important to nearly three-quarters of those surveyed.

7. Recent US studies confirm that from January 2015, the market demand for houses built to green standards was 10% to 14% more than for comparable homes without them. Upfront investment in green building makes properties more valuable, with an average expected increase in value of 4%. Through lowered maintenance and energy costs, the return on investment from green building is rapid: green retrofit projects are generally expected to pay for themselves in just seven years.

8. Whether buying a new home or retrofitting an existing home, more and more people are opting for energy-efficient improvements over cosmetic changes in the US. A report from the National Association of Homebuilders says energy-efficient homes not only save money while you own them, but the improvements you make actually add value to your home.

9.
• Up to 90% of people surveyed said they considered energy efficiency a very important aspect when buying a home.
• A California study showed energy efficient houses sold for an average of US$34,800 more than equivalent homes in the state.
• An IMT study of homes in Washington DC found that homes with energy-efficient features sold for 3.6% more than homes without these features.
• A report found that Seattle homes with green features not only sold for 8.5% more per square foot, but also spend 22% less time on the market.

10. Energy-saving green improvements could increase the value of your property by over a third in some parts of the England, according to a UK Government report published in June 2013.

‘This report tells us that people really value the well-insulated, energy-efficient home; that modest investment in measures to make our homes more comfortable, healthier and cheaper-to-run really pays off.’

Links:

Overseas Research – https://enjoysteamboat.wordpress.com/2010/03/13/usa-today-reports-green-homes-are-outselling-the-real-estate-market/

Homestar – www.Homestar.org.nz

New Zealand Green Building Council – www.nzgbc.org.nz

http://www.scoop.co.nz/stories/BU1705/S00705/new-zealand-green-building-council-gains-momentum.htm

https://www.nzgbc.org.nz/Story?Action=View&Story_id=219

NZ Report Story – http://www.resene.co.nz/pdf/Homestar_Healthy_Home_Guide.pdf

US Report story – https://ecoliving.scotiabank.com/studies-show-sustainable-homes-sell-more/1421

http://content.usatoday.com/communities/greenhouse/post/2012/07/study-green-homes-sell-for-9-more-in-california/1#.WUycycafd7O

UK Report story – http://www.thisismoney.co.uk/money/mortgageshome/article-2341759/Energy-efficiency-improvements-increase-value-home-38–Government-report-claims.html

http://www.thisismoney.co.uk/money/mortgageshome/article-2345737/It-pays-green-Energy-efficient-homes-attract-higher-prices-time-sell.html

Canada – http://www.bbc.com/news/business-15431389

2017-07-11T11:35:10+00:00 July 11th, 2017|Green Advice, Green News|