“For many luxury buyers, having a home that’s designed for sustainability has long seemed nice in theory, but also connoted austere, crunchy aesthetics, plus the added expense of installing green technology.
Between the rapid rise of electric cars as a status symbol; a growing number of developers turning out high-design green buildings; and a broader concern for wellness that’s grown out of the Covid-19 pandemic, the tide is quietly turning in favor of green homes and buildings.
For sellers and developers, adding in eco-friendly features can help a listing stand out from its competition, and potentially speed up sales. But it’s best to be strategic about it.
“We’re just scratching the surface, and it’s going to become the norm in the coming years,” said David Parnes, a principal with The Agency in Los Angeles. “Houses that are using [sustainable features] right now are the exceptions, and therefore giving themselves a great marketing tool and platform.”
In the Palm Beach Florida, area, “As of recently, we’ve seen a big increase in the demand for things that are either certified green, or have electric car chargers,” said Cameron Sydenham, a Florida-based agent with Corcoran. “Up until a couple of years ago, nobody even asked.”
The trend has taken off so quickly that some developers have found themselves scrambling to catch up while a project is still under construction.
“I’m working on a condo complex in Delray Beach, and while we were under construction, we had a number of buyers ask for an [electric] car charging outlet,” Mr. Sydenham said. “In the course of building the project, the developer changed his plans, went to the city, and added six car charging spaces linked to those units we were selling.”
Mr. Sydenham added, “Buyers were not going to buy if we didn’t have that.”
The importance of luxury homes that support electric vehicles will only grow as prestige auto makers beyond Tesla, from Bentley and Porsche to Jaguar Land Rover, have doubled down on electrification.
Meanwhile, views of property listings that fall under the “energy efficient” category have jumped 9.9% in the past year, according to data from Redfin, while the number of listings that include such features has dropped by 13.6%, indicating a moment of opportunity for sellers and builders looking to get out ahead of growing demand.
“I think as this next generation of millennials morphs from renter to buyer, we’re going to see developers responding more quickly to their needs, whether that be rooftop or indoor vertical farms, or car charging stations,” said Stephen Kliegerman, president of Brown Harris Stevens Development Marketing.
Since the start of the pandemic in early 2020, luxury buyers have placed a sudden emphasis on building features like air filtration and UV lighting, health-supporting amenities that previously hadn’t been high on many condo hunters’ wish lists.
“Covid has really built the awareness,” Mr. Kliegerman said. “Buyers are asking about air filtration, water filtration, touch points.”
In some respects, this newfound focus on health has also raised the profile of eco-friendly amenities, with sustainability, health and cleanliness getting wrapped up into a broader sense of overall “wellness.”
“Electric car chargers, infrared technology, solar paneling, we’re going to see that as expected in just a few years,” Mr. Parnes said. “It’s all about wellness, and I think a lot of that has been accentuated by Covid. [Sustainability] is almost like a health brand, or a stamp of approval from a health perspective.””
View the whole story here: https://www.mansionglobal.com/articles/going-for-green-sellers-can-see-upside-in-sustainable-home-features-225492