Everything green is all the rage, and recently there has been an increased demand for green homes. Some experts estimate a projected demand of a $100 billion sub-market by 2016. In 2011, green homes made up roughly 17 percent of the market and are expected to reach two out of five homes by 2016.
The list of reasons to buy a green home is extensive. Green homes are friendly to the environment. Consumers also believe that green homes will have better value in the future. Green homes may cost a little more to build now but have shown to save money in energy efficiency over time.
According to a survey conducted by McGraw-Hill Construction, ninety percent of homeowners surveyed said energy efficiency is important because of personal values, and because of lower energy bills. They also cited other factors like indoor air quality, material durability, use of post-consumer materials and sustainability-focused waste management practices.
Consumers may also be able to save money on their mortgage or receive a federal tax credit for buying a green home or doing eco-friendly home improvements.
For certain efficient home improvements, you can receive a federal tax credit equal to 30‰ with a cap at $1500 for the purchase of energy efficient technologies such as
- Water Heaters
- Heat Pumps
- Air Conditioners
- Stoves that use qualified Biomass Fuel