Bank on More Green to Get Your Home Sold

April 14, 2014

Environmental preferences for HousingIf you are looking for a way to make your home stand out this year, going with green upgrades may be the ticket you need. Newly-released numbers from the National Association of Home Builders’ (NAHB) study shows that buyers will not only choose homes with energy-efficient features over those that don’t, they are willing to pay more for homes with energy-efficient features.

In the “What Home Buyers Really Want: Ethnic Preferences” study, buyers were asked to choose between having a highly energy efficient home (with lower utility bills over the life of the home) and a home without those features (but costs two- to three-percent less). More than 80 percent of buyers said they preferred the more expensive home that had energy saving features, according to the NAHB survey. This year’s response ranks higher than previous versions of this question, where 65 percent of home buyers recently surveyed said they desired an “environment friendly” home, but only about 15 percent were willing to pay more for a home with such features.

So just how much more are buyers willing to spend? The NAHB study looked into that, too, by ethnicity. While the values varied, one thing is clear – it’s not a small difference. The survey found that whites, on average, would pay $6,774 more for a home with energy efficiency features, while African American buyers are willing to pay $7,578 more and Asian buyers are willing to pay $8,251 more. Hispanic buyers were willing to pay the most – an average of $9,146 more on a home with energy-efficient features.

If you are a home buyer, let us know in the comments just what features you are looking for in a green home in Chicago!

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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