Green Projects are the buzzwords these days. With real estate flourishing in modern cities, building constructions are a common sight. It is important to ensure that we do not burden the environment by building real estate properties that are not environment friendly, and this is where Green building comes to play.
The concept underlies sustainable construction that does not take away natural resources nor causes potential threat to human life or our social and cultural well-being. It means that materials used to build the place should be such that it sustains environment and is resource efficient so that the building life runs long.
But the question is, how much will Green building cost and how much more investment will be required? Not many are keen to add to the financial burden that comes with regular construction. But here is the good news. Historic data gathered during the last decade show that you need not spend extra on green building.
Here are the key variables that decide the cost of your green project:
- Builder/Architect’s experience: This is critical to your green building project costs. If your architect is a first timer in such a project, the cost is surely high by around 5%. It is common for contractors to inflate their costs when they see a new construction approach. For an architect who has considerable experience in Green projects, the cost of construction is at par with conventional building process.
- Timing of green building designs incorporation: If designs favouring the green building is incorporated at an early stage of the construction process the costs are relatively lower. However, we do not foresee the importance of green building at first. But as they progress with the construction, builders begin to understand the necessity of green building. But by this time the cost of incorporating the designs is significantly higher than convention building.
- Material source: With low demand for green material in a particular region, the cost of materials goes high. Sometimes green project materials have to be shipped from outside which is again a severe dent in the project budget. But if more number of projects take the green way, then the supply demand ratio will standardize and cost will be significantly lower.
- The degree of green efficiency desired: If you want a really green home, initial investment will be higher in order to improve energy resources. But the higher investment will save to regular bills once the house is in use. You will get the benefit of ROI if your house is energy efficient.
Some of us are reluctant to follow the green brigade because of the belief that green homes are for environment lovers only and are way more expensive than their conventional counterparts. But these are absolute myths and today the green building market is growing at a fierce pace.
The most important factor to cut short your expenses while building a green home is upfront planning. For example, investing in extra windows and some insulation techniques are not too expensive, but the green returns are high.
