The Impact of Sustainable Housing on the Economy
By: Eric Huesca, SEO Content Writer
July 26 2022
Eco-friendly housing is the act of designing, updating, and building homes with sustainable practices and outcomes in mind. There is an increasing demand for energy-efficient homes among buyers, as climate change has continued to be a popular topic of discussion. However, it’s important to note that eco-friendly benefits are not the only reason to use sustainable housing design.
There are several economic benefits associated with sustainable housing as well, that benefit both individuals and whole communities.
Washington State resident showing off her new solar panel installation.
If you’re interested in implementing sustainable practices in your home, you have several options. Regardless of the home’s age or current design, you can increase your home’s sustainability and reap the benefits of doing so.
What Are the Economic Benefits of Eco-friendly Housing?
There are several ways sustainable housing practices can benefit the economy and improve the lives of consumers, outside of their environmental benefits. These secondary benefits are incredibly important incentives for people to increase the sustainability of their households, even without a vested interest in the environment.
Increased Disposable Income
Sustainable housing practices can leave homeowners with more disposable income. This is because sustainable practices can help homeowners save money on things like utility bills, reduce the amount or frequency they have to replace things like lightbulbs, and so on. Over a year, these savings can add up.
Additionally, certain sustainable upgrades, such as renewable energy grids, may also qualify for a tax credit, which can net you thousands of dollars on your next tax return. Local communities may offer other incentives for these kinds of installations. You can check out the incentives available for homeowners looking to install renewable energy systems online, or by getting in touch with your city representative.
Higher Property Values
Homeowners can increase the value of their property without the need for major renovations by implementing sustainable housing practices. These practices can help increase the lifespan of things like appliances, paint, and other property features. It’s also been shown that homes with energy-efficient features sell faster and for more money than homes without. These upgrades can include metal roofing, purposeful landscaping, or even eco-friendly appliances.
Higher Standard of Living
Sustainable development in the home, as well as the surrounding area, can increase your overall standard of living. These kinds of developments can make communities more attractive for businesses, investors, and home buyers. This can help boost the economy, increase resource diversity, and make your community a more fun place to spend time.
How To Implement Sustainable Practices in Your Home
There are several different ways for people to make their homes more sustainable and enjoy the resultant economic benefits. These can be big ways — such as installing a solar power grid — or small, more budget friendly-ways. Sustainable upgrades can be achieved on any budget, at any home, with little time and effort.
Switch to Energy-efficient Appliances
Switching to energy-efficient appliances is one of the easiest ways to upgrade your home for the sake of sustainability. Homeowners can save money, reduce their energy use, and increase the value of their property by switching to energy-efficient appliances. Some energy-efficient appliances you may consider include:
- Dishwasher;
- Washer and Dryer;
- Fridge;
- Thermostat;
- Heating and Cooling Systems.
Energy-efficient appliances can help you reduce the energy output, and some even save water typically used by these appliances. This can make your home that much more eco-friendly.
Adjust Your Thermostat
As we’ve mentioned, your thermostat is one of the appliances you can upgrade for sustainability. You can take this one step further by getting a thermostat that has both n energy-efficient and programmable capabilities. A programmable thermostat lets you decide how long it stays on, and what time it comes on. This means you can keep it off for long periods, such as if you’re going to be out of the house, and reduce the amount of unnecessary heating and cooling in your home.
Programmable thermostats may also be able to connect to your phone, allowing you to remotely control them. This gives you even more ability to moderate your heating and cooling use.
Install Solar Panels
Installing solar panels is a great way to make your home more sustainable, and it may not be as expensive or labor heavy as you think. There are several benefits to getting a solar array for your home, not just for the environment but for your personal use. Solar panels can help save you money on your utility bills. Depending on where you live, you can save up to $3000 a year, as well as help earn you a tax credit or rebate. Solar panels help your home generate its own energy — this can be especially useful in the case of power outages.
Homeowners can figure out if they qualify for solar panel installation by looking online or contacting a solar company in their area.
Add More Plants to Your Yard
Certain plants and vegetation can be great sustainable home additions. Homeowners can lower their energy costs in the summer by adding more plants and trees to their yard, which help provide shade and keep your home cool. Additionally, by planting flora native to your area, you can support local wildlife and pollinators. You can find out what plants are native to your climate by looking online or talking with your local nursery.
Creating sustainable home design has great benefits for both individuals and communities. Sustainability is an important concept, as evidence of climate change continues to add up. By committing a little bit of time, you can make your home more sustainable, as well as more budget-friendly and comfortable.
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