Since the formation LEED (Leadership in Energy and Environmental Design), many buyers have been inclined to go for green homes as it would save cost and energy in the longer run. Making any homebuyers belief true, a new study claims that all the buildings in Texas meeting green building standards developed between 2008 to 2016 are worth an average of $25,000 more in resale value than a conventional home.
The study was conducted by the Real Estate Finance & Investment Center at UT’s McCombs School of Business. More than 3,800 green-certified homes including LEED-certified homes were taken into this research to find out whether certification raised the resale value of homes. The entire study was based on the analysis of more than 230,000 homes located in Texas developed between 2008 to 2016. It utilises regression model accounted interior floor area, number of bedrooms and bathrooms, garages and the age of the home.
The LEED-certified homes have shown great results in terms of people, planet and profit with enhanced health of the occupants and less consumption of energy and water. Overall on an average, these homes use 20 to 30 per cent less energy than conventional homes which is indeed a cost-saving deal for any individual homeowners or residential building owners.
According to USGBC’s 2015 Green Building Economic Impact report, the market for the residential green building construction will be growing rapidly in future and expected to be a value of around $100.4 million in 2018 from $55 million in 2015 with a 24.5 per cent of growth per year.
Source: UT News