Home buyers looking for green element, survey says

25 juillet 2024

Environmentally friendly home improvements have become a huge factor in home buyer shopping lists, a new survey suggests, and will likely yield a solid return on investment come selling time.

Almost three quarters (72 per cent) of the 1,266 Canadians asked in the latest Eco Home Survey by real estate company Royal LePage said they will look for a green improved property in their next home purchase, and 63 per cent said they would pay more for an environmentally friendly home.

Of the majority of Canadians who are willing to pay more for an eco home, 62 per cent are willing to pay between $5,000 and $20,000 more for green features, while 8 per cent are willing to spend an additional $20,000 or more.

"The mood of Canadian home buyers and sellers is changing with the times — environmental concerns are impacting the decisions people are making about their dwellings," said Phil Soper, president and chief executive of Royal LePage Real Estate Services. "From simple energy conservation efforts to the more elaborate use of organic building materials, the environmentally conscious mindset that our agents are seeing in clients is not a passing trend."

The company said that to meet that demand it has partnered with the National Association of Green Agents and Brokers to adopt an accreditation program to educate its agents in helping buyers to make eco-friendly home buying decisions.

The courses, funded in part by the Ministry of Energy, will train agents to assess environmental elements within a home and identify properties that adhere to green standards.

"Few people realize that residential, commercial and institutional buildings represent more than 33 per cent of our total greenhouse gas emissions," said Elden Freeman, National Association of Green Agents and Brokers founder and executive director. "While it is unreasonable to completely reduce carbon dioxide created by homes, there are various practices homeowners can implement — such as installing high-energy efficient windows, doors and insulation, high efficiency furnaces and appliances, and water-conserving fixtures such as showerheads and toilets — that will significantly reduce negative effects on the environment."

"Canadians need to know that going green can certainly be within their means and within their reach," Mr. Soper said. "There are many simple and affordable measures that can lead to big gains for the environment, and many of the practices can actually save homeowners money."

The most popular green modifications that poll respondents already implement in their homes include switching from regular light bulbs to compact florescent light bulbs (74 per cent), adding window and door sealers to prevent heat loss (61 per cent) and switching to high-efficiency washers and dryers and using low-flow water fixtures (54 per cent).

Some homeowners are taking bigger leaps. Caryn Thompson, a Toronto-based health promoter and owner of an eco-friendly home, took on green modifications when she and her husband decided to renovate their home. They opted for highly energy efficient windows made with Low-E glass that decreases heat gain in the summer and keeps the house warm in the winter, installed a modified central air system and painted with low- or no-VOC (volatile organic compounds) products.

"When we decided to renovate our home, we wanted to make choices that would have the least impact on the environment and create a healthy indoor space for us," said Ms. Thompson.

Source Globe and Mail Toronto

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