One of the keys to any successful real estate investor is knowing what your target market wants or at least what they are thinking about. Green real estate is no different. With that said, here are a few of the latest green real estate statistics highlighting home buyers (and renters) purchasing decisions.
According to a survey done by ZIP Realty:
“- 55% of all home shoppers now cite green home features as an important part of their purchasing decision.
- The survey found that homebuyers who view green features as a priority ranked them important because:
- They helped save money (49%)
- They help the environment (40%)
- Occupant/family health (37%)
- Tax credit availability (12%)
- Increased resale value (15%)
- 89% of homebuyers rated energy efficiency the most important feature in a home.
- Less than 1% of homes on the market include “energy efficiency” in their description.”
According to a survey done by Apartments.com:
- 60% of prospective renters search for properties that offer environmentally-friendly amenities.
- 17% of renters said they would not rent an apartment without environmentally friendly amenities.
- 57% of renters said their apartment community does not currently provide environmentally friendly amenities.
“About 32 percent said they’d pay an extra $5,000 for energy-efficient features such as extra insulation, high-performance windows, efficient heating, cooling, lighting, appliances, etc., with the presumption that the homeowner would recoup the cost of those items over time.”
The key things to notice with these studies:
1. Green homes are becoming more sought after and more valuable.
2. There is a growing perception that ‘green’ and ‘energy-efficient’ are two different, opposing concepts. I find this fascinating as I believe a home can’t be green without being energy-efficient.
3. The ‘health’ aspect is becoming a more important point of consideration for renters and buyers. As public perception about the dangers of VOC’s, typical household chemicals increases, expect this number to continue to climb.