Green Homes Don’t Translate to Green Bucks!

In these tough times money saved is money earned.  A survey by Chicago Agent Magazine has revealed that fewer potential homeowners are willing to actually pay additional for ‘green features’.

While there is greater awareness and feeling of accountability amongst buyers for being green, given the tough economic conditions being faced by most families, they are not really willing to shell out extra to buy a green feature.

The survey done by the magazine showed a dip in the number of real estate agents whose clients sought out green properties. Last year 33 percent of agents stated that clients had contacted them to purchase houses with green features, while this year only 15 percent of agents confirmed such queries from potential buyers.

Similarly, the number of agents confirming successful ‘green’ sales over a two year period fell from 36 percent last year to 23 percent this year.

Despite these declining trends, more than half of the real estate agents surveyed felt that the green building concept continues to be of relevance in a tough market, with home builders also trying to adopt green construction methods as a distinguishing factor.

It would seem that while the concept of green construction remains a talking point, it does not actually help close deals as potential buyers faced with hard choices look to find value for money.

Appraisal Source is a New York based residential real estate appraisal firm. Their Long Island home appraisal firm services Nassau and Suffolk County. In New York City, their firm provides independent residential real estate appraisals for Queens, Brooklyn and Manhattan.

Like This Story? Please Share!

Other ways to share:

  What Do You Think?  We'd love your feedback!

Click here to post a comment

7 Responses to “Green Homes Don’t Translate to Green Bucks!”

  1. Paula T. Says:

    This really shouldn’t surprise anyone. If more people could afford to pay extra for “green homes” than why not, it’s good for the environment, but when push comes to shove people who are on a tight budget are gonna save everywhere they can…and having a “green home” isn’t a necessity.

  2. TOPGUN Says:

    If I could afford a green home, I’d totally pay extra to help do my part. The bottom line was when I recently bought my home I was barely able to swing living in the neighborhood I wanted. As much as I would have liked to go green I wasn’t gonna sacrifice that to save money elsewhere…like living in another less expensive area.

    Everyone’s got their priorities and I doubt that having a green home is at the top of any home buyer’s list

  3. Senora Jennings Says:

    I think those who have higher incomes and can afford to pay extra for green homes should.

    It’s a matter of being socially responsible.

    It’s unfortunate that many home buyers haven’t the money for these extras, and it’s all the more reason that the people who do have the extra money use it to help the environment.

    Everyone should do their part, especially those who are in a position to do more cause they have more

    • Paul Says:

      In a perfect world. It’s seems most rich people care less about the world than anyone

  4. John Stevens Says:

    My wife and I purchased a green home last November. I’d love to say we did it to save the world, but it was our dream home located in the perfect area and it just happened to be manufactured with green construction.

    I wonder how many green homes are bought for reasons that have nothing to do with them being a green home.

  5. Juan A. Says:

    It’s a pity not all homes are constructed in ways that help improve our environment.

    Hopefully overtime the cost for “green” construction will go down.

  6. Oh Henry Says:

    The manufacturing of green homes will become more prevalent as we as a society raise our awareness and begin to realize just how essential it is that EACH AND EVERY one of us do our part to be environmentally conscious.

    Today more than ever we need to take personal responsibility for our earth.