Does Sustainable Housing Cost More?
Updated: Nov 18, 2020
Before we go into the costs it's important to understand what is actually meant by 'Sustainable Housing'. Sustainable housing considers the design, construction and operation of your house over its lifetime, in three contexts:
environmental sustainability, which considers things like water, energy, emissions, waste, vegetation, pollutants and contamination
economic sustainability, which considers things like cost and materials for construction, utilities, property charges, maintenance, upgrades and major replacements, and resale value
socialsustainability, which considers things like aesthetics, safety, security, accessibility, functionality, future modifications and liveability for future generations.
Taking into account the above this does equate to a larger upfront cost for a sustainable home. However, the big difference is the thought that has gone into the design for ongoing energy consumption and maintenance which means your cost of ownership will be considerably less.
These extra design features and materials are not commonly used in standard housing and this is where the additional upfront costs come from.
So do we think Sustainable Housing is worth it?
Definitely! The biggest benefit is over the long term, not only will your home be more comfortable to live in but it will also cost significantly less to run by reducing your electricity and water usage. Not to mention the ongoing environmental benefits.
Some lenders will also give you a discounted rate on your mortgage for building/living in a sustainable home to help you offset some of the additional upfront costs.
If you want to know more about Sustainable design then here is a brilliant resource: https://www.yourhome.gov.au/
If you're considering purchasing or building a sustainable home then we can help you set your budget and get the process started. Contact Us today.
0423 269 468