Homes in Texas that are built to meet national standards of environmental and energy efficiency are worth an average of $25,000 more in resale value than other homes.
A recent study looked at more than 3,800 green-certified homes built in Texas between 2008 and 2016 to determine if certification raised the resale value of homes.
Indeed, it found homes built to so-called LEED standards commanded an 8 percent premium over homes that weren’t.
LEED, a national program that stands for Leadership in Energy and Environmental Design, awards homes and buildings certification for things like renewable energy use, water conservation systems and recycled materials.
The average new home sells for $311,000, according to the data collected for the study.
A 6 to 8 percent green premium represents a significant gain for home owners, developers and real estate agents.
The study was based on an analysis of more than 230,000 homes in Texas. It used a regression model that considered square footage, number of bedrooms and bathrooms, garages and the age of the home, as well as whether or not the homes were built to green standards, including LEED.
The Washington, D.C.-based building council expects the residential green construction market to grow to $100 million in 2018 from $55 million in 2015.Contact An Agent Today