Buyers happy to pay more for an eco-friendly home
Would you pay a premium for a more environmentally friendly home? According to a study, 83% of home buyers would spend more on the right property if it had sustainable features.
The research from CBRE Residential found that younger people were even more willing to pay. With the effects of climate change increasingly evident across the globe, the report from the global real-estate advisors suggested that construction methods and materials should be reviewed.
This includes everything like cutting emissions, maximising air tightness, improving insulation, using natural light better and using thermal mass better through a fabric-first approach.
What does this mean?
A recent report from the Department of Energy and Climate Change found that energy improvements have been seen to increase the value of a home by 14% on average and as much as 38% in some areas. The CBRE UK head of residential research, Jennet Siebrits, said:
The benefits of going green are clear from an environmental perspective. The earth’s resources are limited and we are using more than the earth can regenerate. In 2016, we used around 1.6 times the earth’s resources, with the construction and running of a residential property having a significant impact on the environment.
In most developed nations, household electricity use generally makes up about a third of total electricity consumption. Energy from fossil fuels consumed in the construction and operation of buildings accounts for approximately half of the UK’s emissions of carbon dioxide. Housing alone generates 29% of UK emissions, of which 82% is used for space and water heating.
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