Green Building Gains Amid Market Woes

In A window on 2008 at the Baltimore Sun experts predict “the direction of real estate in the coming year, they see greener houses, high-tech comfort and a still-flat market.”

Kind of a mixed bag but it makes sense. Even in a flat market (I would even go so far as to say a down market) greener houses are going to gain an edge.

Why? Energy-efficiency is likely at the top of the priority list. The cost of energy and fuel is less of a sting in small bites, like at the pump. It’s not like we don’t notice that gas prices have shot up but it’s easier to swallow in small pieces one fill-up at a time.

At home, it’s a different story. The bills are bigger, especially if you heat with oil and pay out in big chunks for the season. As the high heating bill hits home this year, homeowners will have an even bigger incentive to go green: save money.

Green building has been perceived as much more expensive than conventional construction but consumers are catching on that green makes sense and cents. Energy-efficiency is a key factor, but it’s not the only factor driving the trend:

“Green is in because there is a higher level of awareness now of the issues surrounding the environment and, specifically, global warming,” said David Pratt, a principal in the Lorax Partnership consulting firm and president of the Baltimore chapter of the U.S. Green Building Council…Rising energy costs, if not eco-sensitivity, drive people to consider higher efficiency ventilation systems, Energy Star appliances, on-demand water heaters, low-voltage bright lights, even solar and geothermal heating and cooling systems.” - Sun

A big nod to Dan at Property Crossroads for the tip!

*photo: roof integrated solar photovoltaic via the Qube Exchange