green homes portland

Is your Dream Home a Green Home? The Challenges of First Time Home Buying

Leah Missik - The new Director of Built Green talks to happy hour guests about the Built Green program.

Leah Missik - The new Director of Built Green talks to happy hour guests about the Built Green program.

Last month we had the honor of hosting Greendrinks with a fantastic group of organizations. The Youngstown Cultural Arts center was buzzing with folks from Built Green, Sustainable Seattle, Green Canopy and the Washington State Housing Finance Commission; all there to answer one question for the happy hour attendees - "How can we make green homes more accessible to first-time homebuyers?"

Promoting green building in the retail, real estate market is a paradigm shift in the way we have traditionally shown and sold homes in the past. Value in real estate has always been determined by location, price, amenities, neighborhood, school districts, etc. with little thought given to long term investment in things like utility bills or walkability.  However - as we see the Millennial generation step into the homebuying arena - a generation known for their values-based consumerism -  we can and should expect these individuals to be more interested in long term savings from resource conservation, healthier and local materials that benefit the local economy, and access to amenities in walkable locations that will keep them out of their car. It's not just the Millennials making these decisions though. Today, the typical homebuyer is tech-savvy and non-traditional. They tend to research more or their own and, while decisions still weigh heavily toward cost and location, energy efficiency is topping the charts on the "Must Haves" list for new buyers.

That being said - there are still not a lot of resources to help first time buyers get exactly what they want from the traditional real estate market - and certainly not many incentives to help aid in that decision to go green. Speaking from my own home buying experience, you tend to throw your values out the window when things start to get competitive!

Greendrinks was a perfect opportunity to explore the ideas and programs that are currently at the intersection of the market and values. Folks left the following comments on our interactive ideas board - and conversations circled many of these topics and solutions all evening.

  • More education - many people do not know where to start when it comes to homebuying for the first time. Green homes can quickly become less of a priority as bidding wars heat up the market and first time buyers are forced to keep searching when product is scarce.

  • Incentivize green building - making it worthwhile for builders to actually build green product is a huge part of the equation. Programs like WSHFC's Energy Trust and Built Green - make it easier for builders to finance projects and adapt green building practices that make an impact in our market.

  • Incentivize green home purchases - Green mortgage loans and new products like WSHFC's Energy Spark program are paving the way for buyers to experience real financial relief on their mortgages for purchasing a green home. Additionally, programs like Green Canopy's Energy Performance Guarantee give buyers the peace of mind that their home will perform as it was modeled. This 3 year guarantee means the builder will pay any utility bill that exceeds the amount modeled in the Energy Performance Score.

As mentioned above - the Greendrinks event was an opportunity to talk about a new program from Washington State Housing Finance Commission that was launched just this month. We were especially excited to be alongside WSFC as they revealed Energy Spark - a program that works hand in hand with their down payment assistance program for first time buyers. This incentive comes in the form of an interest rate reduction for mortgages on energy efficient homes. You can learn more about it in this short clip from Kiro News. 

Home for the Holidays

image.png

Contributed by Krystal Meiners; Director of Marketing

The holidays are usually a time for family, a time for friends and loved ones and a time of reflection and celebration for what you have. For many, it is also a time for worship or travel or even shopping.

What I find especially exciting about this Christmas – is that many families including my own and will be celebrating this holiday season in their very first home. All across Seattle (and the world really) there are people, couples and individuals building new traditions in a brand new place. It is a special time of year and a special moment to realize that, as a homebuilder, we are incredibly involved in the process of helping to build those dreams and traditions for people.

While our designers are not typically thinking of where to put the Christmas trees or menorahs – we are thinking about spaces in terms of entertainment, family, capturing moments, creating delight, delivering mystery and excitement, connecting to nature and cradling that low winter light from the Pacific Northwest. We think that the spaces we build can help shape these experiences into lasting memories that live with the home and create a safe and inspirational space for generations.

Green Canopy has built 20+ homes this year. We hope that that will equate to thousands of exciting, warm and happy memories for the families and individuals that will be celebrating this year in a brand new Green Canopy Home.

Welcome Home to our newest Green Canopy Homeowners and Happy Holidays to all!

Here are some of the inspirational spaces that Green Canopy has built this year:

Yes, Building Green Does Cost More

image.png

“This study adds to a growing body of work on the costs and value of sustainability. It provides further strong evidence that a sustainable approach need not add significantly to building costs. And, where there are additional capital costs, these can be repaid relatively quickly through the reduced costs of operating the building."-Yetunde Abdul, Non-domestic Group Manager at BREEAM UK | New Research Challenges the Perception that Sustainability Costs

Contributed by Aaron Fairchild, CEO of Green Canopy, Inc.

At Green Canopy we build homes that cost less to own and we guarantee that. This is a benefit that is enjoyed directly by our homeowners. Year over year they will see their energy bills pale in comparison to their neighbors. While Green Canopy builds the homes - it is the customer that collects the savings from "green" not the builder.

That is why when someone asks "Doesn't it cost more to build green?" the answer is a resounding "Yes." The cost of building a Green Canopy home is higher... much higher, but the process is also more thorough, and as a result the homes are simply better. However, selling these amazing homes at a competitive price in the market and making a profit doesn’t appear easy when the cost to build them is higher… so we are dedicated to innovating our building processes and managing within the cost constraints of the marketplace.

At Green Canopy, we have always been dedicated to efficiently managing our supply chain and process management systems to compensate for the significantly increased costs of bringing green, efficient and more sustainable homes to the market. The challenge of building the highest quality homes that are better for our families and the planet and doing so within the cost constraints of the market has always been identified as our number one challenge… and we are up for the challenge!

I recently read this great piece commenting on a new research study: New Research Challenges the Perception that Sustainability Costs. I have heard discussions and arguments for years that building green, efficient and more sustainable homes cost more. The discussions and research studies assert that the additional costs of building more sustainable buildings isn’t drastic especially when considering the reduced cost of ownership. It is wonderful that this new study clearly shows how to recapture the additional cost of resource efficient construction! Unfortunately for Green Canopy we don’t live in our homes, so we can’t benefit from the operational cost savings that we build into the homes.

However, the women and men of Green Canopy love the challenge of building green homes and selling them at competitive market prices. We continue to push ourselves and figure out new methods of project management, design and material procurement. With every home we sell we are living up to the challenge and bringing the best in housing to market. As a result of this dedication to quality and innovation, we can competitively price our homes in the market, they in turn sell fast, and our homeowners save money. We know that if we can outperform our competition we will build a thriving business, while creating beautiful and resource efficient homes that will rest on the surface of the Earth inspiring generations of future homeowners to come.