The reality is that there’s no single answer to that question. Costs can vary significantly from one project to the next depending on a range of factors. But experts agree that, while green isn’t free, it doesn’t have to break the budget when compared with conventional buildings on a first-cost basis.
1. SAVES YOU MONEY
A good design can minimize the size of a building’s mechanical systems, which saves money in the short and long terms. Depending on how green your building is (green specification), you will be saving between 25 and 50% of operational costs after the initial years.
2. HEALTH ADVANTAGE
The construction of green buildings is carefully designed around the heath of the residents and the environment around. Reduced emissions, better indoor air quality, reduced need for artificial insulation (HVAC) and a cleaner environment is the perfect mix you should be living with. You also get the advantages of better day lighting
3. AFFORDABILITY
While there has been no systematic study to the costs associated with green building construction, one of the recent reports by Newecology states that “development costs of green buildings ranged between 18% below to 9% above the costs of conventional affordable housing projects”.
4. PERFORMANCE
Green technologies and architecture improve the durability of the building to a great extent and minimizes the costs of refurbishments, repairs or regular maintenance. Better insulation, the right amount of ventilation, and stronger building envelope also offers a better performing asset while adding to the resale value.
It’s true that the construction of sustainable homes does ask for the slightly premium price but the long-term benefits always exceed incremental capital costs. Think of a green building as an investment that guarantees multiplied returns.