THE FOREVER TREND IN REAL ESTATE
2019 started out with various real estate experts predicting that sustainability would once again be a “trend” for the year.
This doesn’t really come in as a surprise since green buildings and sustainability have been enduring trends in the industry for the past couple of decades. However, as the real estate space continues to transform, this topic takes on increasing significance as we look at overall societal, economic and cultural changes.
According to the National Association of Homebuilders, homebuyers want and will pay more for more sustainable features like energy-efficient appliances, windows and the like, alongside features that ensure better air quality. As younger generations are expected to enter the homebuying market, this socially conscious group is looking out for green features and sustainability that is built in.
Sustainability can no longer be considered a niche.
For many urban multifamily residents, the city neighborhood public park has supplanted the back yard of yesteryears. Four seasons a year, the local park provides recreation, whether it’s swimming, cross-country skiing, softball, flag football or more. And unlike backyards, it does so without those enjoying it having to mow, sod or water.
But as common sense surely reminds us, public parks provide a benefit far greater than recreation. Studies have shown a home near green space is linked to myriad positive health outcomes, among them reduced risk of Type II diabetes, heart disease and pre-term births, as well as premature death. Proximity to trees, foliage and green grassy acreage also ushers in lower stress levels, improved sleep and feelings of good health.
Green building really kicked off in the early 1990s, reaching more widespread awareness about a decade later. It was long heralded as a special feature, something that was above and beyond the norm. Now, it has gone mainstream, and many expect a certain amount of sustainability in their homes and commercial buildings. Some governing bodies are even requiring resource-efficient measures to be in place.
A Harvard School of Public Health study even discovered living near higher levels of green vegetation was associated with decreased mortality, and concluded that green natural environments might be used to help enhance public health.
Developers, buyers and renters of multifamily residences get it, and all overtly seek adjacent green spaces, thus it’s safe to say that this this is one trend that will never get out of style.
Are you applying the “Green Initiative” yet? Comment down below what you think about this forever trend!
About the writer: Shaura Cuyan writes about all the hottest Real Estate trends and predictions for Summit VA Solutions! She has previously written for a number of freelancing gigs and writes her own blog on lifestyle and current issues. She is a Graduate of Bachelor of Arts in Communication, taking up her Masters in Development Communication.