Green is absolutely everywhere. You are hard pressed to open up a newspaper, magazine, or turn on a TV show without hearing something about green. People are getting so excited about going green and that is a really great thing. Therefore it is only natural that developers and builders want to jump on this bandwagon.
“One of the misconceptions that developers have is that it costs much more to build green. It can cost more, but not much more. In some cases, the construction can be faster and the costs as compared to convention building are the same. There is a real benefit to the developer in the sale of the property because clients see the total value of owning a green project, and the sales cycle for the developer can be shorter resulting in a faster ROI.”
Two terms that you should become familiar with are “green” and “brown” where green is the more environmentally friendly option. So hypothetically lets say you have two beachfront condo’s you are comparing. The brown option is a great condo; well built, great reputation, gorgeous location, up to code, for all intensive purposes seems to be perfect. But when compared to the green condo, it has higher costs for cooling, higher water costs and higher maintenance costs.
The green building can offer you the following savings:
1. Lower energy costs. Up to 75% lower by utilizing advanced air conditioning technology, chiller systems, dual pane argon gas filled windows, extra shading.
2. Lower water costs. Much lower because the Green building utilizes a recycling system which cleans and filters the water from the sinks and showers, and recycles it to the toilets and the irrigation system.
3. Lower Maintenance Fees. This is a big one. La Concha Pearl for example utilizes solar pre heating for the pool and spas. This is part of the general cost for the Association, paid for by the owners. The monthly HOA fees for a 2000 square foot condo will run around $500.00 per month.
So while it may be a little more expensive in the initial purchase price. You can think of going green like buying a hybrid car; There are cheaper vehicles out there, but the money you will save in the long run makes it all worth it.