Greener, Sustainable Homes- a Growing Trend

Interest in more Eco-Friendly homes has been trending for quite some time now, but never more this past year. A sustainable home is no longer something home buyers need to scour the market for, energy saving and recycled elements are widely available in all price ranges. Builders are constructing entire sustainable communities, and Realtors know what sells- agents are eager to feature Eco-Friendly details in listing descriptions.

Experts agree that recent changes in our way of life are somewhat responsible for accelerating the sustainable movement, and ultimately causing a shift in the direction of our home buying priorities. The fact that more people are spending more time in their homes not only highlights our need for comfort and space and our concerns with health and safety, but calls to our attention the cost of utilities and the ways we can reduce expense and waste.

The upshot is that energy saving, eco-friendly and smart home features are nearly always a smart investment when it comes time to sell your home.

REALTORS® Answer Call for Greener, Sustainable Homes
More homebuyers and sellers are in the market for greener, sustainable homes—and REALTORS® are answering the call.

Over half of REALTORS® recently surveyed in the National Association of REALTORS® (NAR) REALTORS® and Sustainability report say consumers have an interest in sustainability as it pertains to real estate—homes that have features intended to conserve natural resources, such as solar panels or walkability. Twenty-seven percent of those surveyed have been involved with at least one “green,” or sustainable, property in the past year.

One of the more valued features, according to the survey, is efficient lighting, cited by 50 percent of the REALTORS® surveyed as important to consumers. A “smart” home is also in demand, according to 40 percent of those surveyed, and, to a lesser extent, geothermal technology and “green community features”. Sixty percent of those surveyed say consumers are looking for outdoor recreation and/or parks in proximity to home, while 37 percent say consumers are looking for “local food” sources.

Eighty percent of the REALTORS® surveyed, in addition, say solar panels exist in their market, but just 42 percent say their presence gives a boost to perceived home value. Twenty-four percent say tiny houses exist in their market.

Editor’s Note: To a home seller, the value and marketability of solar panels is chiefly contingent on whether they have been purchased (and fully paid for) or rented with monthly payments due. Few people realize that a buyer purchasing a home with rented solar panels much not only qualify for mortgage, insurance and property tax payments, but must also qualify for the rental cost of the panels AND be approved by the company that owns and has installed the system. The monthly cost of solar panel rental often cuts into the mortgage amount that the home buyer will qualify for and consequently the amount and location of affordable homes for that buyer.

The real estate industry has recognized the mounting significance of sustainability—in fact, 70 percent of those surveyed “feel strongly” about the benefits of marketing sustainable home features to consumers, and 43 percent say their MLS has green data fields to input information related to those features.

REALTORS® and Sustainability is part of NAR’s Sustainability Program, a “platform for dialogue on sustainability for REALTORS®, brokers, allied trade associations and consumers,” with a “focus on coordination and articulation of NAR’s existing sustainability resources, while also supporting a growing area of interesting for consumers, helping members to assist homebuyers and sellers,” according to a release on the report.

“As consumers’ interest in sustainability grows, REALTORS® understand the necessity of promoting sustainability in their real estate practice, such as marketing energy efficiency in property listings to homebuyers,” says NAR President Bill Brown. “The goal of the NAR Sustainability Program is to provide leadership and strategies on topics of sustainability to benefit members, consumers and communities.”