Are you a Fairfield County, Connecticut or Westchester County, New York resident interested in building a custom luxury ‘green’ home? If you are, you will find the following McGraw-Hill Construction report to be of interest:
An early May 2012 SmartMarket Report by McGraw-Hill Construction reported on the increase of new and remodeled green homes in the residential market. The report states that we will be seeing a big increase in green home remodeling and new construction in the next few years. The report noted two primary reasons for this — consumers perceive that green homes have an inherently greater value, and that green homes save money.
The report notes the following McGraw-Hill Construction facts about the green home’s share of the construction market, with projections based on the five-year forecast for overall residential construction:
Green Home Market Share 2011: 17% of the market or $17 billion
Projected Green Home Market Share 2016: 29%-38% of the market or $87–114 billion
Quoting Harvey Bernstein, Vice President of Industry Insights and Alliances at McGraw-Hill Construction, “In the current residential market, there is an enormous need to differentiate your homes for consumers. When builders are able to offer homes that not only are green, but also offer the combination of higher quality and better value, they have a major competitive edge over those building traditional homes.”
An interesting contributing factor to the anticipated growth of green homes noted in the report is that significantly fewer builders are now reporting higher first costs for building green, than were reported in 2008. Refer to the rest of the SmartMarket Report for additional information about factors driving the green home building trends, and resulting changes in the residential marketplace.
For Fairfield County, Connecticut and Westchester County, New York residents interested in building a custom luxury ‘green’ home, please consider the residential design and construction work of Brooks & Falotico Architects of New Canaan, Connecticut.
Image from the Brooks & Falotico Portfolio