Eco-friendly home designs are one bright spot in today's struggling
real estate economy. As homeowners look to buy new, green-constructed
homes, real estate builders are doing everything they can to lower the
cost of living with energy and environmentally efficient designs.
The Appraisal Institute, the nation’s largest professional association of real estate appraisers released a form intended to help analyze values of
energy-efficient home features. It is the first of its kind intended for
appraisers' use. If you have invested in green energy products in your home, ask the appraiser to include option addedum to the Fannie Mae 1004.
Builders and home owners have been hesitant to add green energy feature in their home because there was no way to show the value in the appraisal process in getting a refi or selling the home. Now they can!
How to Achieve LEED Certification
LEED certification works by awarding points for factors like air quality, water conservation, and energy efficiency based on the design of homes and office buildings. Some of the ways buildings and homes gain high LEED marks include using green materials for flooring, paint and windows, and by installing equipment like dual-flush toilets and Energy Star appliances, which use less electricity compared to older appliances.
The Natural Resources Defense Council estimates that an LEED certified green building can cost up to two percent more in upfront costs and, as LEED rises in popularity, many eco-friendly building materials are beginning to fall below standard construction costs of an average non-LEED home.
In 2009, the number of homes receiving LEED certification tripled compared to 2008 with more than 3,000 new buildings and homes. As more than 155,000 architects, contractors and consultants passed a USGBC test to become a LEED accredited professional or green associate, everyone in the developer community expects this trend to continue to lead the economic reform to the real estate market in the future.
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