ProSource | 9/11/2015 | Expert Advice
There are many good reasons for adopting an eco-friendly policy when it comes to making enhancements to your home. Besides potential tax incentives, lower utility bills, and a healthier environment, you can also experience an increase in property equity and higher resale value.
For those among you who are real estate investors, there are additional benefits.
To meet the growing demand of those like you—people opting for green building and renovation solutions—there is an ever increasing amount of products and services available. The good news gets even better when you consider the potential monetary return for your green home improvement investments.
The Most Fundamental Return On Your Green Investment
“There is a fundamental connection between our health and the design of places where we live, work, play and heal.” (Source: Randy Fiser, Executive Vice President and CEO of the American Society of Interior Designers)
The most significant, longer-term return on investment is likely to play out with regard to health benefits. While the data is still being compiled, logic dictates that healthier home and work environments will greatly contribute to the reduction of serious and expensive health issues, especially chronic respiratory ailments. This reduction of illness should in turn translate into lower healthcare costs and individual expenditures.
When evaluating your projected return for going green and how to best to proceed with which products, it helps to set short and long term goals for your plan and budget. Professionals, like your ProSource Showroom team, can then help you decide how best to leverage your green home improvement budget.
In the meantime, let’s take a quick look at some information that can help homeowners like you develop a home greening strategy to generate stronger ROI.
Generally Speaking: Stats For Overall Green Construction
According to a 2009 report by the U.S. General Services Administration, green construction uses 26% less energy and has a 13% lower maintenance cost compared to traditional construction methods. Sustainable building also leads to a 27% higher occupant satisfaction rate while reducing carbon emissions by 33%. In addition to these savings, many energy efficient installations qualify for federal tax credits, including: HVAC systems, insulation, roofing, geothermal and solar energy systems.
“Green products and systems pay for themselves at least 10 times over the life of the building. This is true even if the features cost more at the onset.” (Source: Green Building and Remodeling for Dummies by Eric Corey Freed)
Home Equity And Resale Value
According to recent research by McGraw Hill, people looking for a green home were willing to pay about $18,000 more (or a 3 to 5% increase, according to a 2012 survey by National Association of Home Builders (NAHB).
Designers and realtors are finding that homeowners are increasingly demanding sustainable flooring, cabinets, countertops (if they are green), and other green home improvements. So, in addition to creating a better environment for you and your family, your investment will extend to the value of your property at resale.
The Value Proposition For Green Flooring, Cabinets And Countertops
Eco-friendly upgrades are about making lasting investments, so think longer term: material durability, depth of beauty and character, lower maintenance, and health benefits. As your budget allows, consider these environmentally friendly options:
Custom cabinetry: Solid wood cabinets eliminate the health risks associated with cheaper cabinets made of MDF or particleboard.
Green flooring: Hardwood, bamboo, cork, recycled content ceramic tile, stone, and FSC-certified engineered hardwood flooring are some of the lowest maintenance floors you can purchase, as well as among the most beautiful.
Solid slab countertops: Solid stone, concrete, and engineered stone countertops release almost no airborne toxins into your kitchen. They are also virtually maintenance-free, and easier to keep clean than most other materials, which is a big plus when you consider that hard-to-clean countertops are a prime breeding ground for harmful, food-related bacteria. (Source: pro.homeadvisor.com)
Greenhabbing Data: Investing In Green Real Estate
Done correctly, greenhabbing a property may result in the following:
* For real estate investors, the reduced costs of green properties can increase rents and building values. McGraw-Hill's 2006 SmartMarket Report states that buildings renovated to meet green standards can bring 3% higher occupancy rates and a 7.5% increase in a building's value. Although green buildings cost, on average, only 2-3% more to build, they are estimated to use an average of 25 to 30% less energy than conventional buildings (Source: investopedia.com).
There are any number of ways to begin greening your home. ProSource can help make your efforts even more substantial and rewarding, with affordably sustainable cabinetry, countertops, and flooring. Your home’s beauty will be much more than skin deep and provide you many years of a healthier environment.
Return On Your Green Investment
Bonus Green Cabinetry Tip
Cabinet and pantry organization, especially for perishables, means you can easily see what you have and minimize waste due to expired items or duplicate purchases.
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