A new survey reveals home buyers will pay a premium as high as 25 percent for newly built "green" homes, but the extra cost is often not necessary if the builder is savvy.
That's not to say it isn't good news that home buyers are willing to plunk down extra cash for a home that will help cool the over heated planet.
A recent CBS poll revealed 70 percent of American adults think global warming is an environmental problem having a serious impact.
A "green" home, built with sustainable and conservation-minded materials, designs and technology, uses less energy, water, and natural resources; creates less waste; and is healthier and more comfortable for the occupants than homes built otherwise.
Less energy needed, means less dependence on fossil fuels. Burning fossil fuels contributes to global warming which leads to potentially disastrous climatic change, according to the vast majority of scientists.
Green Builder Media, publishers of the Green Builder magazine, recently surveyed more than 250 residential builders and more than half of them reported buyers willing to pay a premium of between 11 to 25 percent more for green-built homes.
Also, according to Green Builder, 96 percent of home builders in the survey group intend to incorporate more green building materials and processes into their business in 2007. Only 51 percent of those same builders reported they are currently using green products or practices regularly.
The primary reasons builders provided for not using more green products were price and availability, but the primary reason for the jump in planned use of green building products and processes is also because of price.
"Builders are increasing the numbers applying for 'LEED' certification. It (green building) used to add 10 to 20 percent to the cost of a home. Now developers have learned how to build to LEED standards with no additional capital costs," said John McIlwain, an Urban Land Institute senior resident fellow.
The LEED (Leadership in Energy and Environmental Design) Green Building Rating System, created in 1993 by the U.S. Green Building Council (USGBC), is a nationally accepted benchmark for designing, constructing and operating buildings, including homes, with a whole-building approach to sustainability in five key areas -- sustainable site development, water savings, energy efficiency, materials selection, and indoor environmental quality.
The 7,500 member USGBC is the building industry's point group to promote buildings that are environmentally responsible, profitable and healthy places to live and work.
The council confirms McIlwain's findings.
"LEED certification does not have to cost a penny more. LEED projects completed and certified to date demonstrate that you can achieve LEED certification and reap its many benefits with a common-sense approach to design and not additional dollars. Depending on your green building strategy and the level of certification you want to achieve, however, there may be mid- and long-term ROI (returns on investment) association with additional green features that merits an investment in final costs," the council offers in it's Frequently Asked Questions series of publications.
The message to conscientious home buyers is, given the soft housing market, it's a good time to shop around for homes built both green and smart, and pocket that extra 25 percent for other global cooling efforts.
Tomorrow: Green up. You don't have to wait to buy a new home to make your home greener. Green builders offer some lesser publicized ways to reduce the carbon footprint of your home.
