Buildings are responsible for an enormous amount of national energy use, resource consumption and greenhouse gas emissions. As the demand for more sustainable building options increases, green construction is becoming increasingly profitable and desirable within the U.S. construction market. At the forefront of homebuilding innovation is the concept of a “green lifestyle”. Homebuilders can no longer just think about the house that is being built, but now focus on the overall lifestyle that is being constructed: the green lifestyle.
“Green buildings are more than just eco-friendly homes. When done properly and holistically, they are more comfortable, long-lasting, high-quality homes that also happen to be more energy efficient, healthier and more sustainable” says Brandon Weiss, Founder of Evolutionary Home Builders. Here are three reasons why green home building is at the forefront of innovation and why homebuilders should be interested in building experiences (Check out our last blog about Masterplanned Communities for more about building experiences).
- Interest in green building is growing rapidly. The sector made up only two percent of nonresidential building starts in 2005, but by 2012, that number jumped to 41 percent. Now it’s estimated that 40-48 percent of new nonresidential construction will be green, representing up to $145 billion.
- Extending beyond new construction, green building is accessible through retrofit projects. The green share of these projects is expected to more than triple by 2030, representing an investment of $960 billion.
- Upfront investment in green building makes properties more valuable, with an average expected increase in value of four percent. By virtue of lowered maintenance and energy costs the return on investment from green building is rapid: green retrofit projects are generally expected to pay for themselves in just seven years.
Every generation will shift the emphasis and focus of the housing market. However, the desire for green home alternatives and a socially and environmentally responsible lifestyles is something that is becoming a cultural shift and is here to stay. Building green lifestyles is something that will pay off in the end.