Homes built to green standards such as LEED certification adds an average $25,000 to resale values
Homes built to green standards such as LEED certification adds an average $25,000 to resale values.
That’s the finding of a study by the University of Texas and the US Green Building Council which looked at resale values of homes in Texas between 2008 and 2016.
"Our research shows there is a 'green premium' in the Texas single-family home market," said The University of Texas at Austin's Dr. Greg Hallman. "The average new home in our Texas MLS dataset sells for $311,000, so a 6-8% green premium represents a significant gain for home owners, developers, and real estate agents and brokers."
The study considered 3,800 green certified homes and was based on an analysis of 230,000 homes in Texas using a model taking into account several factors.
LEED, which is the most widely-used green certification system in the world, added the largest premium to resale values at 8% compared to 6% for a wider range of green standards.
"As developers and buyers continue to see the value in LEED, we expect the number of LEED-certified homes to increase in the Texas market," said Taryn Holowka, senior vice president, USGBC. "Homes that are built to meet green standards deliver more value to the seller and also ensure that buyers will have a high-value sale down the road and reap the benefit of lower utility bills while living in the home."
That’s the finding of a study by the University of Texas and the US Green Building Council which looked at resale values of homes in Texas between 2008 and 2016.
"Our research shows there is a 'green premium' in the Texas single-family home market," said The University of Texas at Austin's Dr. Greg Hallman. "The average new home in our Texas MLS dataset sells for $311,000, so a 6-8% green premium represents a significant gain for home owners, developers, and real estate agents and brokers."
The study considered 3,800 green certified homes and was based on an analysis of 230,000 homes in Texas using a model taking into account several factors.
LEED, which is the most widely-used green certification system in the world, added the largest premium to resale values at 8% compared to 6% for a wider range of green standards.
"As developers and buyers continue to see the value in LEED, we expect the number of LEED-certified homes to increase in the Texas market," said Taryn Holowka, senior vice president, USGBC. "Homes that are built to meet green standards deliver more value to the seller and also ensure that buyers will have a high-value sale down the road and reap the benefit of lower utility bills while living in the home."
