July 12, 2017
A study from the University of Texas at Austin and the U.S. Green Building Council (USGBC) found Texas houses built to meet green building standards are worth an average of $25,000 more in resale value than conventional homes. The report noted that homes built between 2008 and 2015 to Leadership in Energy and Environmental Design (LEED) standards recorded an 8% boost in value. Homes built to a wider range of green standards saw a 6% increase in value.
The study was conducted by the Real Estate Finance & Investment Center at The University of Texas at Austin’s McCombs School of Business, based on an analysis of more than 230,000 homes. “The average new home in our Texas MLS dataset sells for $311,000, so a 6% to 8% green premium represents a significant gain for home owners, developers, and real estate agents and brokers,” said UT’s Greg Hallman.
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