When it comes to real estate, “going green” may not be a fad. It may be an investment in the future.
A study by the National Association of Home Builders (NAHB) found that 90 percent of homebuyers take energy efficiency into account when shopping for a home. However, most of the 125 million single family homes in the United States were built before energy-saving regulations were enacted. When searching for a home, you’ll have to make a conscious decision to “go green.” Doing so may pay off in the long run.
Here are some of the potential advantages a green home may offer:
Potential Lower Utility Costs
Eco-friendly appliances, such as Energy Star units, may be able to save homeowners money annually. Similarly, a well-insulated home can utilize the power of the sun, heat from people’s bodies and appliances to keep everyone warm in the winter. Cold air will be trapped in the summer as well, so you’ll potentially save money all year long.
Potential Health Benefits
Many traditional building materials may not be optimal for the health of residents. VOCs (volatile organic compounds) are present in many paints, plastics, building materials and indoor products and may cause everything from eye irritation to nausea. Not to mention, VOCs are a major component of ozone. Choosing a home with non-VOC or low-VOC products can potentially help protect your health as well as the health of the environment.
Potential Tax Incentives
For owners of certified green homes, there may be incentives – like the availability of credits for solar water heaters and solar panels, with no maximum limit – that may be offered by federal, state and local governments.
Investing in an eco-friendly home could be a smart move for many potential homebuyers. Keep an eye out for other unique potential energy and money saving opportunities.
If you have questions about financing a home, find a Motto Mortgage office near you.
Published on September 27, 2019
