Did you know that Green Homes are worth more?
Did you know that Green Homes are worth more?
Ten years ago I remember having a conversation with a couple of developers and the subject was how much more will a “green home” sell for compared to a regularly constructed home? We were brainstorming the concept in a coffee shop and the developers were pioneers in Green Construction. I really did not have a true feel for how much more we could sell the home and told them as well.
We suspected that it would be worth more and progressive buyers, particularly forward thinking buyers from the entertainment industry would be willing to pay more for these green homes.
Well fast forward to 2012 and amazingly there have been many studies done since then. Some by the University of California not only in Los Angeles but also in Berkley and they determined that a “green label” home labeled by Energy Star, LEED for homes clearly sell for more money. According to the UCLA study they are selling for at least 9% more.
Now if I may add my input: in my observation with ten plus years of monitoring this phenomenon, I have noticed that homes that are able to justify that they have LEED Certification actually sell for anywhere for 10-35% more than regular homes. The variance in the price point is based on location. If it is in Bel Air, Beverly Hills or the Hollywood Hills, it makes a huge difference. The common denominator is where there is a strong Entertainment Industry concentration of home owners the price is higher for Green Homes.
So Green is good for developers, the environment and the community. If you are considering building a Green home please reach out to me since I have a large inventory of Vacant Lots in the Greater Los Angeles area.
If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.
