Are you getting ready to embark on new home construction? Or maybe you’re going to be expanding your existing property with a new addition. One thing to consider is how green your new building space is going to be. With new advanced technology, utilizing green construction practices can help you live a cleaner, greener lifestyle. Here are just a few reasons as to why you might want to choose these building practices over traditional construction methods.
Potentially Increased Value
With any new construction project, you may find the home’s value has the potential to increase. A finished addition to your home will add to square footage, depending on what this area is designed for it might be something you can use to your advantage when refinancing or selling your home in the future. When you add eco-friendly building materials and appliances to your new home, buyers may turn a more appreciative eye your way. For example, when glancing over some ION Solar reviews, you’ll see that other homeowners who have upgraded their homes to solar panels and other related money saving improvements are pleased with their green upgrades. The demand for these type homes is likely to increase as the next generation of home buyers, the millennials, will most likely look for homes with green attributes. This includes homes with:
- Solar panel technology.
- Built-in smart hubs that control temperature, and enforce secure perimeters.
- Sinks, appliances and showers that utilize minimal water flow.
- On-demand tankless hot water heaters
- Natural wood and recycled construction materials.
This may contribute toward less maintenance and using less electricity and fuel to power your home and lifestyle. In addition, you should see savings with future utility bills, unlike what you would with a traditionally built home.
Creating a side by side cost comparison will tell you visually that there aren’t huge savings by choosing to go green at first. Right away you may not see a significant impact on your finances by choosing to build a green home, but you have to look at the big picture. Most green construction products and services are designed to reduce your carbon footprint. It’s important to find a general contractor who specializes in green living and eco-based construction practices. This will allow you to plan a green-friendly home based on your personal needs and overall budget. While a traditional construction plan would involve using wood and materials that are manufactured in mass quantities, choosing green over commercial materials will give you more peace of mind in regards to the environment.
Special Financing Advantages
In many cases, choosing green over more traditional building methods allows you some special financing advantages. Many banks and lenders offer specialty loans and tax breaks to homeowners who use green products and have Energy Star appliances installed in their home. One program, the EEM or Energy Efficient Mortgage program from the U.S. Department of Housing and Urban Development?helps those who use FHA financing. You can borrow a higher mortgage with to finance energy-efficient materials, with no additional down payment, in order to complete your home improvement or new construction project. In addition, you may qualify for lower interest rates on a traditional home mortgage or home mortgage refinance. Start by visiting your local bank or credit union to find out if they offer any programs and to start the loan application process.
There are both benefits and drawbacks to both conventional building and green building as well. It all comes down to personal preference. If you’re an advocate for sustainability, green construction is gaining momentum in the building world and just one option to consider. The first step is finding a building contractor who specializes in your vision and can fit your dream home construction in your budget.