How do you move from the point of considering buying a home, whether or not you have thought about the green aspect at this point in time? Do you notice how we emphasize the “considering” here? We do that for a reason, of course.
There are many people who would like to buy a home. They start looking at homes online, even visit some open houses and then find out that they are not (financially) able to buy a home or are, after all, not looking in the right community. The result: a lot of energy and time wasted and a dent in one’s enthusiasm.
Therefore, consult with a Realtor when you start considering buying a home.
We have developed a consultation/presentation package that is guaranteed free of charge and obligation. It will help you determine first of all if you are ready to actually buy a home. Also, it will help you understand everything that can go right and that can go wrong in the process leading up to buying a home. It is meant to educate you on issues like legal mandatory disclosures for sellers and buyers, mortgages, title searches, RPR’s, condominium aspects and so on.
Depending on your specific wants and needs in a new home, our GREEN designation and membership of the Go Green Challenge may be a valuable add-on for you to all the general real estate information that we are able to give you.We know how to find just those listings on the MLS that have green features. We will show you these green listings and advise you on whether or not these features will actually add value to the home and/or will result in lower energy bills. We will watch out for you, ensuring that a home owner is not just “greenwashing” his home. Greenwashing means making inaccurate or false statements about what is a green feature.If you want to buy a home and want to add on (more) green features afterwards yourself, our after sale service will be available as well.
The Green Home Buyer is buying green
The 2007 New home buyers’ study, developed by the Consumers’ Council of Canada, reports that more than 86 percent of recent home buyers thought energy efficiency, a key green building feature, was an important consideration when searching for a home to purchase.
The report provides further data on the green home buyer related to the energy efficiency decision:
77% of the respondents look for an energy rating label such as EnerGuide, EnergyStar, R-2000 or Built Green
69% of the respondents do their own research to assess the energy efficiency of a new home
86% of the respondents support mandatory minimum levels of energy efficiency for the construction of homes
79% of the respondents would be willing to pay more for the purchase of an energy efficient home
More than 40% of the respondents are willing to pay more than $5,000 for an energy efficient home.
The Types of Green Home Buyers who are buying green
We can categorize the green client or customer in the following general types:
Economizers: Those who are buying green because they are interested in saving on operating costs through resource management. For example baby boomers who have experience tracking monthly energy and utility costs over time may think that a green home is the best way to control increasing costs and manage their budget.
Investors: These individuals are buying green because they are interested in life-cycle cost analysis and the value proposition of various green features. For example someone looking to remodel or retrofit existing homes and buildings with green features in order to ultimately command a higher asking price.
Health Conscious: Those that are buying green because they believe in the potential health benefits of green living. Someone for instance who has allergies may think that a green home or building will help prevent allergic reactions and improve overall health.
Idealists: People who are buying green because they believe that conservation of resources for future generations is a social responsibility. These are individuals truly committed to and passionate about green and who are willing to sacrifice for green lifestyle choices. Think of someone who is interested in minimizing his/her carbon footprint by living or working in a green building, collecting rainwater for landscaping irrigation, shopping locally or growing his/her own food, and so forth.
Lifestyle- focused: These are people who are buying green because they think that living by overall sustainability principles contributes to a more meaningful and comfortable personal lifestyle. These are individuals supportive of living a green lifestyle. For example someone who considers close proximity to public transportation or living by open space a priority in terms of personal home choice.
Eco-Chic: people are also buying green because they are interested in the status and prestige of green living. Individuals who may not truly subscribe to a green philosophy but are interested in being involved or own the latest green feature or gadget. For example someone who values the idea of living in a green certified home or building more than the unique green features and associated environmental or sustainable benefits.
In the end, it does not matter to which category or categories you belong because in each category we all contribute to green living! So, in one way or another, chances are that you are green minded!
The Motivation of Buying Green
There may be obvious reasons behind buying green, such as lower energy bills, environmental sustainability, better indoor quality and a smaller carbon footprint. However, there are also less obvious reasons more closely related to real estate to consider such as a better quality home, preferred mortgage rates, improved home comfort and a higher resale value.
Another good source about selling green and green properties in general is the CMHC.