Beaten-down housing market... More foreclosures... Falling prices... There is no shortage of negative news on the housing market these days. According to the US S&P/Case-Shiller Home Price Indices, a leading US home price index, national home prices declined by 4.2% in the first quarter of 2011, after declining 3.6% in the fourth quarter of 2010. Home prices are now falling back to the mid-2002 price levels.
These are depressing statistics. Ever since the financial crisis triggered by subprime mortgages started in 2007, the housing market has been in the spot light. This is understandable. For many of us, our home forms the largest percentage of our net worth and is an investment that we rely on for retirement.
The current phenomenon is the result of an over-extended market that was created by prolonged low interest rates, easy credit, and greed. There is nothing we can do about the overall state of the current housing market. However, there are certain things we can do to affect our home value. Renovating or expanding your current living space, if done wisely, can be a good investment toward the future sale of your home.
One such investment is greening your home. Building green not only benefits the environment, but also your overall well-being.
A win-win situation:
By utilizing reclaimed, recycled and renewable resources, green buildings reduce the demand on our environment. Green building practices emphasize a healthy living environment. For example, using toxin-free materials and good ventilation creates good indoor air quality and reduces the growth of harmful mold and mildew.Besides physical health, green building practitioners are also concerned about the emotional impact of lighting, the placement of objects, and the overall flow of the space on the habitants. Green building has increased in popularity and will likely continue to increase the value of your home in the future.