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Cost Benefits for Green Building Report 2013.
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June 7th, 2013
A study of 1.6 million homes sold in California between 2007 and early 2012 has documented that, holding all other variables constant, a green certification label on a house adds an average of 9 percent to its selling value.
This 124 page report recently published by the World Green Building Council on “The Business Case for Green Building” detailing the cost benefits of building built to sustainable standards like LEED and Energy Star.
Green Building do not need to cost more than non-green buildings as building practices and materials are becoming more mainstream. Various studies from between 2000 to 2012 show that actual cost premiums can range from zero to 12.5% with the higher prices directly relating to a higher standard of green features.
Studies also show that certified green buildings both commercial and residential can command higher prices up to 30% more. One study said”… a one-dollar saving in energy costs per square foot (about a 50 percent reduction in costs), leads to an increase of US$0.95 in cash flows and an increase of $13 in asset values."
The other benefit of green buildings are that they are healthier than conventional buildings—they have better air, better light, and better materials. These benefits lead to a more productive work environment which is a driving factor for many companies to go green.
David Popoff is a certified “Green Homes Specialist” Realtor with William Pitt Sotheby’s in lower Fairfield County, Connecticut.
DMK Property Management llc a locally owned company serving lower Fairfield County, Connecticut.
Specializing in Residential Property Management that can custom tailor a program to fit the homeowners needs be it short term or long term from rental management to full estate management.