Posted by: phillipsre | August 3, 2012

Green Living

A study focused on ‘Green’ homes in California found that people will pay more for homes that are promoted as ‘Green’ or Energy Efficient. The trends seems to be more with new construction rather than resale homes, as buyers would prefer to purchase a new energy efficient home than a resale home with ‘Green’ updates.

Researchers also found something they dubbed the “Prius effect”: Buyers in areas where support of environmental conservation is relatively high ā€” as measured by the percentage of hybrid auto registrations in ZIP codes ā€” are more willing to pay premiums for green-certified houses than buyers in areas where hybrid registrations were lower.

This is also starting to become a trend with rentals, tenants are more inclined to rent newer apartments with ‘Green’ features, knowing that these features will reduce the cost of heating, cooling and water use.

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