More Substance Than Hype Behind Green Building?
August 11th, 2010 categories: Chicago Real Estate News
Green building is hot right now. Developers of new housing projects tout their buildings’ green features such as low-flow plumbing, bamboo floors, geothermal heating and the use of recycled building materials.
Here’s the question, though: Is green building here to stay? Or is it merely today’s trendy real estate marketing tool?
Mary Umberger, a real estate columnist with the Chicago Tribune, recently covered this. In her opinion? Green building is more than just hype. It’s here to stay.
That’s good news. Green building isn’t just environmentally friendly. It’s also good construction. The green-built homes in Chicago are some of the best-constructed residences that I’ve seen.
In her story, Umberger cited a Chicago Tribune/WGN poll that showed that two-thirds of residents in the Chicago area have changed their daily routines to become more environmentally friendly. She also points to a report from a trade magazine that showed that the total value of U.S. green-building projects will increase from $71 billion this year to $173 billion by 2015.
That’s not to say, though, that consumers will buy one home over another just because of its green features. Buyers still care most about price, location and quality of construction. Green building, though, can make a difference: If two homes in the same neighborhood boast the same basic price and amenities, environmentally conscious buyers are more likely to choose the green home.
For builders and developers, this is important. These professionals recognize that green building is good for the planet. But they also need it to be good for their wallets. If green building proves to be profitable, Chicago-area developers and builders will continue to embrace environmentally sound construction processes.
That would be good news for Chicago home buyers. Not only are green-built homes examples of top-quality construction, they’re also less expensive to own. Energy efficient appliances save homeowners a significant amount of money over the years. In today’s tough economy, all savings are important.
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