How Much is ‘Green’ Worth to You?
If you could save $1,000 a year on your utility costs, how much more would you be willing to pay for your next home?
According to a survey by the National Association of Home Builders (NAHB), the average homebuyer is willing to spend an extra $10,700 to save $1,000 a year on their utility bills, $3,000 more than in 2012 when NAHB last conducted the survey.
The survey shows that today’s homebuyers have grown more interested in going green and saving on utilities. An investment of that size would pay for itself in 10 years.
NAHB asked consumers to rank green features according to desirability. Some of the items included:
- Energy-Efficient Appliances – Ninety percent of respondents specifically ranked ENERGY STAR appliances as either desirable or essential.
- Above-Code Insulation – One of the most impactful ways to minimize energy consumption is to install optimal amounts of insulation during initial construction. Not only are heating and cooling costs reduced, but overall comfort is improved.
- Water-Conserving Features – Dual flush toilets, low-flow faucets, and shower heads that promote water efficiency are very popular. Tankless water heaters, which produce on-demand hot water and eliminate the costs of maintaining a tank of standby hot water, were also desirable green components.
- Solar-Powered Heating and Cooling – Though ranked last among features listed in the green section of the survey, solar elements were considered to be desirable or essential to 61 percent of consumers who were surveyed.
While most consumers agree that an energy efficient home is important, green features come at a price. In addition, the new homes built by Approved Professional Home Builders represent just one percent of our housing stock. That is why home improvements and remodeling make our existing homes more energy efficient is important as well.
You can learn more about making your existing home greener by attending the Southern Home and Garden Show September 20-22 at the Greenville Convention Center. Visit SouthernHomeandGardenShow.com to see a list of exhibitors and seminars.