Did Millennials Fuel the Rise of Eco-Friendly Homes?

Scientists say the global temperature will continue to rise for the coming years because of the greenhouse gases that human activities produce. According to the Intergovernmental Panel on Climate Change (IPCC), the temperature is likely to rise by 2.5 to 10° Fahrenheit over the next century.

This global crisis encourages people to follow a sustainable lifestyle by reducing single-use plastics, reusing several items, and recycling old or discarded materials that pollute the environment. Sustainability has come a long way, though, from such minor but helpful contributions. In Utah, for example, a custom home builder enables you to live in a sustainable home.

Sustainability is vital for most millennials, or individuals born between 1980 and 2000. They believe they are more concerned about protecting the environment than the older generations.

An Environment Conscious Generation

Millennials focus on implementing Sustainable Development Goals (SDGs), such as climate change, equality, and justice, among others. Their unique consumption trends help them achieve these goals. Data show 73 percent of millennials are willing to spend more for sustainable products.

This generation is also financially conscious. Since their income is 20 percent less than their parents, they tend to pay attention to building their savings. A survey shows 16 percent of millennials have already saved $100,000 in their retirement plans.

Additionally, millennials put their money into socially responsible investments (SRIs), or “green investing.” It’s a way of investing money in organizations that leave a positive impact on the world.

Meanwhile, the Home Buyers and Sellers Generational Trends report by the National Association of REALTORS® shows millennials still comprise the largest generation of buyers. Does that mean they fueled the popularity of environmentally-friendly homes?

The Growing Popularity of Sustainable Homes

Eco-friendly homes use various natural resources, including light, wind, and earth. The design and materials aim to reduce a home’s carbon footprint and the amount of heat and power a homeowner consumes. These features have encouraged several homeowners to leave their traditionally built homes.

A report by the Sustainable Living Association explains millennials have likely contributed to increasing the popularity of sustainable homes. But the organization didn’t provide data to support this claim.

Despite that, sustainability in homes is still crucial for them. The REALTORS®’ report cited that the top three environmentally friendly features that millennials consider as “very important” are:

  • Commuting costs
  • Heating and cooling costs
  • Installation of windows, doors, and siding

Are Green Homes a Worthy Investment?

eco-friendly house

Whether or not millennials were behind the popularity of eco-friendly homes today, these homes are still a rewarding investment. They don’t only reduce your carbon footprint but also your living costs. Materials for building sustainable homes are easily accessible, too, which saves you time.

Eco-friendly homes rely on renewable energy. This minimizes operating costs, cutting down your monthly bills by up to 20 to 30 percent.

Other benefits of sustainable homes include:

  • Better air quality
  • Consistent temperature
  • Lower maintenance requirements
  • Minimal waste

A report by International Investment also points out sustainable properties are not just reserved for “philanthropic” investment anymore. More potential homeowners are likely to add “green housing” to their property requirements. And you can take advantage of this as an investor.

Since the climate will continue to get warmer in the coming years, taking actions, like sustainable living, helps minimize the impact of global warming. Experts believe the popularity of environmentally friendly homes will continue to rise and could do wonders to the environment.

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