We continue to follow the trend in the housing/construction market. Although real estate is primarily a local market, trends do move through markets in one way or the other. An interesting article by Ted Cushman reveals that potential home buyers consider “green” building features more important than luxury amenities, according to the results of a Harris Interactive poll commissioned by Move, Inc. Almost half of the adults surveyed (49 percent) said features such as solar panels or energy-saving appliances were “important,” compared to just 31 percent who rated luxury amenities important.
There are numerous builders here in the Tri-State that incorporate “green” building features for their homes. Please call us at 812-499-9234 for additional information on these builders.
‘Green’ Features Beat Out Luxury Amenities in Buyer Poll
by Ted Cushman
Potential home buyers consider “green” building features more important than luxury amenities, according to the results of a Harris Interactive poll commissioned by Move, Inc., the operator of Realtor.com. Almost half of the adults surveyed (49 percent) said features such as solar panels or energy-saving appliances were “important,” compared to just 31 percent who rated luxury amenities important.
When it comes to choosing a neighborhood, buyers listed crime rates as the top concern (56 percent). But proximity to work and shopping was also rated as a major factor. While potential buyers were willing to cut personal spending and sacrifice comfort to afford a home, few respondents were willing to take on a longer travel time to purchase a home in today’s market. Just 6 percent of home buyers said they would sacrifice proximity to work to purchase a home in today’s market, while 6 percent said they would give up proximity to shopping. Only 3 percent would give up proximity to public transportation.
In any case, the data on feature and location preferences are somewhat academic in light of the survey’s finding that a large majority of potential buyers, 81 percent, say they face big financial obstacles in purchasing a home. Those barriers include high prices, lack of confidence in the economy, and, especially among younger adults, lack of income.
However, the survey revealed hope in the long run, and a strong underlying demand for houses. Almost half of respondents (49 percent) expect conditions for buying a home to improve after the next President takes office. Among those who already own a home, 44 percent said they would like to purchase a different house. And a huge majority of renters--80 percent--say they plan to purchase a home someday, with 47 percent saying they would like to make that purchase within five years.
Ted Cushman is a contributing editor to BUILDER Online.
Source: http://www.ecohomemagazine.com/news/green-building-features-beat-out-luxury-amenities.aspx#
