The slowing U.S. economy has meant re-thinking the more-expensive green features for real estate across the nation and in the Summit County Rocky Mountain resort areas of Breckenridge, Keystone, Copper Mountain, Frisco, Silverthorne, and Dillon.
Make no mistake, however. Some people want high-quality green vacation homes in Breckenridge and Summit County and can afford state-of-the-art techniques and equipment. These buyers will pay the higher price for LEED-certified homes. They will pay for the sturdy construction; better air-conditioning, heating, and insulation; high-tech ventilation, radiation-filtering windows, solar panels, and passive-solar architectural elements.
The truth is that homes with low-energy features cost more up front. If a builder adds $40,000 worth of solar panels, high-quality insulation and air ducts, and energy-efficient appliances, the features could add $50,000 to the price of the home. The homeowner can re-coup that money over the course of the mortgage through lower energy bills. Some people can afford the initial increase; others cannot.
When energy prices were soaring last year homebuilders nationwide went through a phase of adding eco-friendly enhancements, according to the 02-14-09 Associated Press article in Summit Homes & Properties. These builders were getting onto the green bandwagon. But with falling oil prices and cash shortages, the pricey low-energy developments are stalling a bit. People have to cut their budgets somewhere.
As several economic factors changed during 2008, so too did the demand for these impressive green homes. Some developers saw an initial burst in sales for green homes followed by a weakening in the green market. The AP article explained that developers such as Scottsdale-based Meritage Homes are reviewing future projects and plans for sustainable communities in areas such as Texas, Arizona, California, Nevada, Colorado, and Florida.
As builders move cautiously forward into the green arena, they will be exploring ways to remain environmentally friendly while cutting costs. Examples include Energy-Star appliances. If they are building green communities, developers may choose to offer pre-sales to be sure that enough buyers are on board.
Jonna Beardsley of Breckenridge Associates offers a wealth of information about real estate in the Rocky Mountain region. The brokers at Breckenridge Associates Real Estate own the business and work together with an uncommon dedication to their clients, the industry, and the community, resulting in decades of top performance in the resort areas. Call Jonna at (970) 453-2200 or (800) 774-7970 for friendly, professional assistance.
