Sustainability and conserving the environment can no longer be considered a niche. In fact, consumers demand and expect it from most aspects of their lives. Even professional sports teams, in the Premier League and other top European leagues, now have formal sustainability initiatives in place. According to a recent survey by Nielsen, 81% of consumers around the globe believe it is extremely or very important for companies to have environmental improvement as an objective.
Real estate like all other industries was not immune to this sustainability wave as the trend grew. In recent times we are finding that homeowners are even willing to pay more for a property if it is equipped with sustainable, environment-friendly features like greenery, sewage treatment and disposal plant , water treatment and supply plant, energy-efficient appliances, windows, and the like, as well as features that ensure better air quality. As younger generations enter the homebuying market, this socially conscious generation is looking out for increasingly green features and sustainability that is built-in.
Homeowners have turned to renewable energy for power supply as a cleaner and safer option. As mentioned before, the environmental benefits of using renewable energy is one of the main reasons homeowners have chosen to go green. For example, solar panels have taken off recently and are becoming more common in residential areas. Solar power systems derive clean, pure energy from the sun. The installation of solar panels in your home helps combat greenhouse gas emissions and reduces our collective dependence on fossil fuels. Traditional electricity is sourced from fossil fuels such as coal and natural gas. In the burning of fossil fuels to produce electricity, they emit harmful gasses that are the primary cause of air pollution and global climate change. Not only are fossil fuels harmful to the environment, but they are also a finite resource. Because of this, the price is constantly fluctuating and can increase in a short period of time. In addition, these gasses released are harmful to human beings as they produce air and water pollution. Using renewable energy also has impacts on a country’s economy as it allows for energy independence. In the current global economy, many countries are forced to rely on others to supply their energy needs. Renewable energy can empower nations to become independent, controlling their own pricing, and even boosting the local economy. Home buyers are interested in these features, and the feel good factor that arises from feeling like they’re doing something to save the planet and as a result they are paying more. Modern homes are also being built with these features in mind. In addition to solar panels there are plenty of ways that you can implement renewable energy sources in your own home such as smart thermostats; smart thermostats connect your heating system to the internet, which allows you to adjust your heating from your smartphone. This prevents wastage if you accidentally leave your heat on during the day, and allows you to heat or cool your home more efficiently. Another method will be the installation of wind turbines. Wind turbines are not only located on gigantic farms anymore, it is possible to have one in your home and use them as a cheaper and renewable source of energy.
In addition to renewable energy sources, real estate’s green agenda has also turned to waste management. How waste is disposed of from a property has implications on both the property value and the environment. Poorly disposed waste and waste management from a property can lead to air pollution, clog up drainage, release terrible odours and other uncomfortable effects. This has a negative impact on the value of a property so it is imperative home buyers enquire about this. Recycling is also on the up in recent times as more and more homes are separating their recyclables from other trash. Recycling is the process of turning waste into materials that can be used again so they do not damage the planet. Recycling’s impact on real estate can be looked at from the angle of homeowners recycling commercial waste, like plastics, paper, glass or from the angle of developers using recycled materials to build. A lot of usable building materials are made as a result of recycling. I.e, timbercrete: a lighter form of concrete made with sawdust. Ferrock: a longer-lasting form of concrete made with repurposed steel dust. Newspaperwood: paper waste repurposed to wood. Denim insulation: made of recycled blue jeans. Ecobricks: made of recycled plastic. Recycled cork: from bottle corks to flooring and wall panels. Recycling and reusing building materials is probably the number one most effective way to be more environmentally responsible when developing and building. With so many incentives and varieties of material out there, switching to use more recycled/reused material is simply a matter of changing old habits. In some cases reusing old materials can help a developer keep his costs down which in turn affects prices. From the homeowners perspective, apartment buildings and properties that provide the option to recycle efficiently are more sought after to certain homebuyers.
An easy way to go green which might seem obvious, is to go green. Plants, trees, flowers and a perfectly manicured, aesthetically pleasing garden have always been able to have impacts on the value of a property. However, people might have done this traditionally for their beauty. Homeowners and real estate developers now plant trees and encourage gardening as a means of conserving the environment whilst decorating their space, two birds with one stone. Gardening helps the environment in multiple ways. Gardening is a way of improving the environment we live in via the addition of plants, flowers, fruits, and vegetables. By gardening, we improve the air and the soil quality. We are growing our own food, beautifying our space, and instead of taking something away from the natural world. As the world has gone greener, more and more people are using space on their properties for gardening whilst it is becoming a bigger consideration when purchasing property.
Please do not hesitate to consult Demaxon Facilities Limited for any real estate needs you may have.
