Tuesday, August 28, 2012

Why Northern Virginia Home Buyers Want to Go Green

If there is one trend that I have noticed taking over the real estate industry, it is green construction. It appears that home buyers in the Northern Virginia real estate market are more interested in energy-efficient homes than the mega-mansions of last decade. According to a survey completed by Ogilvy & Mather in 2011, 66% of the population identifies themselves as “Upper and Middle Greens”, meaning that they’re following the green movement and that they want to buy green homes, so long as it doesn’t break their bank account.

The reason why I emphasize this to my seller clients is because it’s imperative to understand what it is that buyers are looking for in today’s market. People don’t want to have to pay a ton of money to make energy efficient upgrades on a home they just bought. They would much rather make an offer on a home that already has the amenities that they’re looking for. With that being said, if you’re thinking about doing a remodeling project or renovation before putting your home on the market, you need to be thinking about including green appliances and updates.

Still not convinced? Here are a few more reasons why Northern Virginia’s home buyers want to go green:

•    Cheaper utility bills. Using certain energy efficient appliances, shower heads, faucets and toilets actually saves you money on your energy bills. For empty-nesters or people on a budget, that is an appealing thought. They will more than pay off their initial investment in a green home through these savings on their bills.
•    People want their kids to grow up in a home without allergens or toxins. The amount of chemically-enhanced products and chemicals that we use in our day to day lives can be more harmful to our health than helpful to our home. Certain green upgrades allow you to use more natural products that won’t be harmful to your family.
•    It has become the new American dream. The McMansions of yesteryear are no longer considered to be the most desirable to most Northern Virginia home buyers. Now, people are more concerned with having smaller, more energy-efficient homes that have sustainable materials and help reduce carbon footprint.

According to the Ogilvy & Mather study, up to 50% of people said that they consider green amenities to be more important than water views, mountain views and custom-built homes. 60% also said that they want their next home to have green or energy efficient appliances. The numbers don’t lie—if you’re a seller, you need to get on board with going green. This may mean investing in some upgrades in order to raise the value of your Northern Virginia home.

If you have any questions about what you need to do to sell your home in the Northern Virginia real estate market, don’t hesitate to contact me and ask! I’d be happy to help in any way that I can. I hope to hear from you soon!


Earle Whitmore
Long & Foster Real Estate, Inc.
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