New study: ‘Green’ Apartment features can earn developers more, then save homeowners money
Associate Lecturer Tom Keel and Associate Professor Ameta Jain from Deakin University recently wrote in the The Conversation:
“For years, builders and developers have treated “sustainable” homes as someone else’s problem. Solar panels, batteries, double-glazed windows, correct insulation, good ventilation and better materials have been thought to be too expensive, too niche and too unprofitable to include in new homes, so they were left out.
The result is predictable. Homeowners move in, receive high energy bills, feel uncomfortable temperatures, and eventually pay to retrofit the same features the builder skipped. But that often costs much more than it would have to include them during construction.
Why greener apartments make financial sense
Apartments stand out. The research highlights apartment developments as a particularly strong opportunity, because the combined upfront cost per apartment is modest relative to the total extra profit made from selling greener apartments.
The numbers are especially compelling in the current market, where apartment construction is growing again after a prolonged slowdown.
One recent analysis of 20 building projects showed the average cost of meeting energy-efficiency targets for apartments was $6,547 per dwelling. The potential gain for owners was $21,000 in the first 12 months.”
