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Green Homes Gain Heat in Cool Housing Market

Buyers willing to pay for eco-upgrades, survey says

By Matt Cantor,  Newser Staff

Posted Mar 9, 2008 7:55 PM CDT

(Newser) – Eco-friendly homebuilders are faring well despite the plunging US housing market, Newsweek reports. With home sales at a 15-year low, a national survey showed that buyers last year were ready to spend an extra $8,964 on a home that cuts utility bills. "It's taken almost as a fait accompli that green building is where the market is headed," a pro-green advocate said.

Green upgrades like improved insulation and safer paints don't bust the budget, either. A $40,000 photovoltaic solar system may be pricey—twice the cost of a usual heating and cooling system—but one homebuyer says it can pay for itself in 6 years. "People know it's good for their pocketbook, they know it's good for the environment, and they like the badge,” one builder says.

Michael Mobbs, a consultant on eco-friendly housing developments and office projects, stands outside his three bedroom self-sufficient house in Sydney Monday, May 28, 2007. (AP Photo/Mark Baker)
Michael Mobbs, a consultant on eco-friendly housing developments and office projects, stands outside his three bedroom self-sufficient house in Sydney Monday, May 28, 2007. (AP Photo/Mark Baker)   (Associated Press)
A growing sample of organic insulation is shown at RPI  in Troy, N.Y., May 17, 2007.  Two recently-graduated students  created a patented Greensulate formula, an organic, fire-retardant board made of water, flour, oyster mushroom spores and perlite, a mineral blend found in potting soil, and are hoping the invention...
A growing sample of organic insulation is shown at RPI in Troy, N.Y., May 17, 2007. Two recently-graduated students created a patented "Greensulate" formula, an organic, fire-retardant board made of...   (Associated Press)
Mark Vargas shows the solar panels on his home in Santa Clara, Calif., Friday, Feb. 15, 2008.
Mark Vargas shows the solar panels on his home in Santa Clara, Calif., Friday, Feb. 15, 2008.   (AP Photo/Jeff Chiu)
The home of former Vice President Al Gore is shown in Nashville, Tenn., Wednesday, Dec. 12, 2007.  After renovations were done that ranged from solar panels to insulation, the house has earned the U.S. Green Building Council's second-highest rating for sustainable design. (AP Photo/Mark Humphrey)
The home of former Vice President Al Gore is shown in Nashville, Tenn., Wednesday, Dec. 12, 2007. After renovations were done that ranged from solar panels to insulation, the house has earned the U.S....   (Associated Press)
A solar powered fan is seen on the roof of the home of former Vice President Al Gore in Nashville, Tenn., in a Thursday, June 7, 2007 file photo. (AP Photo/Paul Levy, file)
A solar powered fan is seen on the roof of the home of former Vice President Al Gore in Nashville, Tenn., in a Thursday, June 7, 2007 file photo. (AP Photo/Paul Levy, file)   (Associated Press)
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