Going Green & What it Means to the Real-Estate Industry

With the rise in environmental awareness across all aspects of society, real estate has entered the realm of eco-friendly practices and “green” initiatives. Now that more people are realizing the effects of waste, pollution, and other factors on the environment, they have become fond of products and services that are “green certified.” It is the idea that one is both helping out the environment and establishing a more sustainable lifestyle that sways so many individuals towards becoming environmentally responsible. 

For the real estate industry, this means that more developers and homebuilders need to engage in environmentally-friendly building when it comes to all types of residences. Organizations, like the U.S. Green Building Council, are leading the way in creating a housing industry that keeps nature in mind when building homes for people. With LEED Certification, houses can be built based on standards that are in line with environmental organizations. While some argue that the initial cost of “green building” can be costly, approximately 2.5% than regular building, others argue that the resulting water savings and energy efficiency make it “economically worthwhile” (New York Times).

As more studies surface on the subject of “green building,” homeowners and developers will come to see the benefits and sacrifices that come along with buying/building “green” homes. We can expect more information to be released through mass media and more awareness to be created throughout large regions of the US. It would be no surprise if the housing industry progressively adapts to this trend and begins to satisfy the latest consumer demand: eco-friendly lifestyles.

References: http://greeninc.blogs.nytimes.com/2008/11/20/debating-the-green-building-premium/