Today, it is impossible to ignore the act of ‘go green’ especially when it comes to residential and commercial property. Even though technology seems to be capable to make any kinds of changes or improvement, nothing can compare to the importance of sustainability. Thus, technology today is geared toward more sustainable development in property business. In the past, majority of people are interested to live in the big city.
Today though, millennial are more interested to live in suburban since it provides more comfort and ideal situation for living. Besides, people are now preferred sustainable and energy efficient appliances instead of the luxurious ones. This shows how people are more aware about the importance of sustainability which benefits them as well as their surroundings.
Why is sustainability importance to be applied in residential and commercial property development?
Going green is not new since humans have become aware that the problems of global climate change are serious and need the right solution. The first thing that is suitable for the change is property in which people are living and doing their activities daily. Going green means all kinds of redevelopment of the property either residential or commercials focus more on sustainability. In return, it benefits the environment, as well as community and economy. As for the homeowners and investors, sustainable redevelopment is also beneficial. Investors have more potential to sell their property which has sustainable features. As for the homeowners, they can reduce energy bills and even their life will be improved in many ways.
Reasons why sustainability is important in property business
- Buildings, both commercial and residential contribute to energy used about 40 % of the total amount. It leads to global climate change. That’s why sustainable properties will help reducing carbon footprint as well as general environmental impact.
- Sometimes investors and developers are reluctant to build or remodel properties to go green concept sue to the cost. However, it only cost 5-10% more expensive. If they can only utilize some features, the percentage will be decreased.
- As mentioned above that homeowners gain benefits from buying and living in a house with sustainable features because they can save energy bills. This is beneficial not only for the homeowners but also for the overall energy used. Net energy will save up significantly in a year and more.
- Investors and developers are mostly worried about go green properties not being attractive enough for the consumers. However, the study shows that nearly half consumers are indeed willing to buy a home with some sustainable features or zero net energy. This shows that the possibility of earning less profit is rather small.
- There are many features in homes that can be remodeled to be more energy efficient such as wall, ceiling, floor, window insulation, lighting, heating or cooling system, electrical outlets, as well as ventilation system. Developers can start from any of them. Remodeling can be applied to the entire elements in home or to only some of them.