Michelle Foster
May 24, 2023
What Homebuyers Want in 2023
The housing market is constantly evolving, and what homebuyers want is no exception. In recent years, there has been a growing focus on sustainability and environmental impact, and this is reflected in the latest trends in homebuying.
A recent survey by Green Builder Media’s COGNITION Smart Data market intelligence arm sheds light on what homebuyers are looking for in 2023. The survey, which polled over 2,200 consumers across the United States, found that there are several key factors that are driving homebuying decisions.
Sustainability
Sustainability is a growing concern for homebuyers. This includes factors such as energy efficiency, water conservation, and the use of renewable energy sources.
The survey found that 68% of respondents are concerned about the environmental impact of their home, and 52% are willing to pay more for a home that is sustainable.
NGBS Green Certified homes met the rigorous requirements of the ICC 700 National Green Building Standard® (NGBS) – the first residential green building rating system approved by ANSI as an American National Standard. The NGBS provides practices for the design, construction, and renovation of buildings and land developments. Our stringent third-party verified certification ensures homes and apartments are NGBS compliant and provides home buyers and renters with assurance that your green claims are valid.
Healthy Homes
One of the most important factors for homebuyers is the health and safety of their new home. This includes factors such as indoor air quality, water quality, and the presence of allergens and pollutants.
The survey found that 82% of respondents are concerned about the health and safety of their home, and 65% are willing to pay more for a home that has been certified as healthy or green.
The NGBS Green+ WELLNESS certification recognizes homes and buildings that are higher performing across multiple NGBS practice categories that influence human health including Air, Movement, Moisture Management, Humidity Control/Comfort, Nourishment, Light, Sound, Materials, and Access to Nature.
Resilience
Another important factor for homebuyers is the resilience of their home to extreme weather events. This is particularly important considering the increasing frequency and severity of natural disasters.
The survey found that 72% of respondents are concerned about the impact of climate change on their home, and 58% are willing to pay more for a home that is built to withstand extreme weather events.
To earn the NGBS Green+ RESILIENCE certification, a builder must provide documentation confirming their home/building has been designed and constructed to provide at least 30% enhanced resilience and durability beyond the structural requirements of the IBC or IRC, as applicable, and must show that they have on-site renewable energy and a battery energy storage system.
Green Products and Technologies
In addition to these general trends, there are several specific green products and technologies that are gaining in popularity among homebuyers. These include smart thermostats, smart refrigerators, induction cooktops, solar PV, and battery storage.
The survey found that 82% of respondents are familiar with smart thermostats, 75% are familiar with smart refrigerators, and 68% are familiar with induction cooktops. Solar PV and battery storage are less familiar, but they are still gaining in popularity.
NGBS Green+ SMART HOME certified homes must include: (1) automated or voice-activated control of HVAC, lighting, alarm system, or door locks; and (2) programmable communicating thermostat with remote capability. Additional practices regarding the Lighting & Lighting Controls, Energy & Water Consumption Control, Smart Controls for Water Efficiency, and Ventilation and Humidity Control must also be met for certification compliance.
TL;DR: What do Buyers Want? Heathy, Resilient, Sustainable and Green Homes
The survey results show that homebuyers are increasingly looking for homes that are healthy, resilient, sustainable, and equipped with green products and technologies. This trend is likely to continue in the years to come, as more and more people become aware of the importance of these factors.
Builders and developers that earn NGBS Green certification for their homes and apartments are helping buyers and renters get the healthy, resilient, and green homes of their dreams.
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