11. Location: Choose a location with good access to public transportation, biking or walking paths, and nearby amenities to promote a sustainable lifestyle for residents. 12. Community: Create communal spaces that encourage residents to engage in sustainable practices, such as community gardens or shared composting facilities. By incorporating these sustainable and eco-friendly design considerations into residential property sales, you can attract environmentally conscious buyers and demonstrate your commitment to creating a greener living environment for the future.
Incorporating energy-efficient high quality windows, lighting and heating, ventilation, insulation, and energy-efficient air conditioning HVAC systems can increase the initial construction costs. These may involve higher upfront costs but can result in lower energy consumption, reduced utility bills over time and improved comfort for occupants. Using eco-friendly and sustainable materials, such as reclaimed wood, bamboo or low impact materials, which may be more expensive than conventional materials, can add to the overall construction costs. However, there are often long term benefits such as improved indoor air quality and durability.
Costs & Benefits
The cost of land and its location can significantly impact the overall price of
Obviously there are a number of costs associated with sustainable development and design. Costs of sustainable real estate in the UK can vary depending on various factors such as location, property type, size, and the specific sustainable features or certifications being implemented. A cost benefit analysis should be carried out before starting on such projects to assess the long-term savings and environmental benefits that sustainable features can provide. Obtaining green building certifications, such as BREEAM (Building Research Establishment Environmental Assessment Method), LEED (Leadership in Energy and Environmental Design) or Passivhaus involves additional expenses for assessment, documentation, consulting services and certification fees in the short term but can be recouped by the demand for environmentally friendly housing from eco-conscious buyers and tenants. Incorporating renewable energy sources like solar panels or wind turbines can be a significant upfront cost but in the long run, can provide long term savings on energy bills and potentially generate income through feed in tariffs or incentives.
sustainable real estate projects. Prime locations with good access to public transportation and amenities may come at a premium. Creating eco-friendly landscapes and outdoor spaces, such as rainwater harvesting systems, native plantings, permeable surfaces like green roofs or living walls, can add to the upfront costs for design and implementation. However, these have gained in popularity since they offer improved insulation, stormwater management and increased biodiversity in urban areas. Incorporating waste reduction and recycling systems may involve some upfront expenses but they can contribute to sustainable waste management practices and potential cost savings in waste disposal. In the same way, installing water saving fixtures such as low flow toilets and rainwater harvesting systems may require an initial investment but can lead to lower water bills and more efficient water use. Retrofitting or upgrading existing properties to make them more sustainable can be costly, depending on the extent of the modifications required. However, the long-term benefits will mean lower bills and energy consumption.
It should also be noted that government, local authorities, and financial institutions are
THE LEGAL CORNER MAGAZINE | ISSUE 005 SEPTEMBER '23 | PLANNING, OWNERSHIP & THE ENVIRONMENT HB 28
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