According to a recent J.D. Power & Associates Survey conducted for EnerQuality Corp, more than 2,000 recent homebuyers in the GTA and Ottawa, virtually 98 percent of buyers expect builders to offer energy efficient features, yet only four of 10 builders are talking about energy efficiency with their buyers.
Almost half of homebuyers purchased energy efficient features and half of those who didn’t said it was because they were simply not aware of them. Builders are missing an opportunity to directly address a key concern of our buyers. 73 percent of the survey respondents said energy efficiency is important to them, or that nine out of 10 say they will buy an energy-efficient home next time. This is an incentive for builders to go green.
While environmental protection, reduced monthly operating expenses and higher resale value remain the key motivating factors for buyers to invest in energy efficiency, almost a third of respondents cited higher quality construction as the most important benefit to them. The survey also found there is more satisfaction with the design of a new home when energy efficient features have been offered – 828 out of 1,000 on the Builder Rating on Overall Physical Design Index compared to 626 when it’s not offered.
Last year, The Building Industry and Land Development Association started offering courses to builders on how to build more energy-efficient homes, and to builders’ sales personnel on how to sell the benefits of energy-efficient construction.
When it comes to perceptions of certification labels, 58 per cent of respondents thought they were important, with more than three quarters citing proof of energy efficiency as the top reason for wanting a label. Energy Star for New Homes ranked highest in brand recognition among certification labels; it was cited by 83 per cent of buyers. As of last fall, there were 265 participating builders. More than 10,000 Energy Star homes have been enrolled in less than three years since the program started in Ontario.
For more information on the courses mentioned above, you can visit: http://www.bildgta.ca/
For more information on the survey results, you can visit: http://www.thestar.com/comment/columnists/article/345301
Norsteel 