Ottawa Citizens Willing To Pay More for Energy Efficient Homes

energy-efficiencyA survey conducted by EnerQuality, a certification and consulting firm for the homebuilding industry, reported that Ottawa home owners are prepared to pay up to $13,000 more for an energy efficient home. Almost 90 percent of people stated that energy efficiency was either somewhat or extremely important to them. The reasoning? Long-term cost savings.

Corey McBurney, president of EnerQuality, said, “Part of the reason for this is that energy efficient features provide a net decrease in the cost of owning a home to the tune of hundreds of dollars per year.”

Although the survey shows willingness on the home buyer’s part to shell out extra for energy saving components, the actual average paid for these features was only around $3,000. This goes to show that while people’s intentions are in the right place, it may take an extra nudge or two for them to follow through, especially since spending an extra $3,000 is much easier that doling out $13,000.

During a homebuilding industry tour of green homes this week, Urbandale general manager Matthew Sachs questioned, “I don’t doubt one in five people would say they’re willing to spend an extra $10,000, but how many actually put the money down?”

Perhaps the decision of whether or not to include energy efficient features is not entirely up to the home owner. The survey also stated that less than 50 percent of home buyers were offered these options by their builder.

Clearly, distributors need to find a way to either make their energy saving products more available or more appealing to builders. “More work needs to be done on the industry side of the green housing equation,” said Mr. McBurney.

To get information on where you can find an energy-efficient home, or find a builder that offers energy saving options, like green appliances, contact Chris Coveny. Chrisis an expert in the Ottawa real estate market, and will be able to help you with your home buying or home selling needs. Contact Chris at OttawaMove.com.