Chicago, IL (PRWEB) February 07, 2014
As CF Funding has mentioned before, residential construction is growing, and builders are confident about the future of the housing industry. As “green homes” have popularized over the past few years, they have significantly contributed to the home construction market, accounting for 23 percent of all residential construction in 2013. At the NAHB International Builders’ Show which was from February 4th-6th this week in Las Vegas, McGraw Hill Construction revealed their forecast for total residential construction, and they expect the value of green home construction to double over the next 3 years. What caused them to make this prediction?
According to the "Green Home Builders and Remodelers Study,” found on construction.com builders who had experience in green home building were better off during the recession than builders who did not, and green construction continues to grow as the economy improves. More than half of builders and remodelers feel that green homes have a competitive marketing advantage, in comparison with just 40 percent of builders who felt this way in 2008. The study also showed that 68 percent of builders and 84 percent of remodelers reported that their customers were willing to pay more for green features.
If you are looking to sell a home with green features, this is good news! On the other hand, if you would like to buy a home that is energy efficient, you will not be disappointed. According to a survey by GuildQuality, 94 percent of green homeowners would recommend purchasing a green home to others, and 92 percent would buy another green home. 71 percent believed that their homes are of higher quality, and more than half believe the benefits outweighed the cost. The most important benefits reported included lower cost of utilities and better insulation.
CF Funding is happy to see more homeowners becoming environmentally aware, and taking the steps necessary to save energy. If you are on the fence about buying a home with green features, consider how much money you will save in the long run as energy costs increase. Luckily for homebuyers, as more communities incorporate “green” regulations and environmentally-friendly construction becomes more popular, the availability and affordability of green homes will rise.
According to a quote on MortgageNewsDaily.com on February 4th by Harvey Bernstein, VP of Industry Insights and Alliances at McGraw Hill Construction , “ the broader availability of green building products and practices, a more educated consumer and an increase in activity at the regulatory level will also encourage this group of builders to learn green practices over time.”