real estate

7 tips for buyers who want a green home

What about the mortgage?
What about the mortgage? © olivier/Shutterstock.com

Some buyers report difficulty in getting lenders and appraisers to recognize the value of a green home.

"Unfortunately, the lending industry just isn't as up to speed on green as we'd like it to be," Turner says. She adds that it's sometimes hard for appraisers to find comparable houses nearby, because green homes are relatively new.

While green buyers may have a hard time convincing lenders their utility costs will be substantially lower than in a standard home, they're not entirely without resources. Last year, the Appraisal Institute, a trade group for real estate appraisers, introduced a new, optional form that helps appraisers better take into account energy-efficient and green features when valuing homes.

Making the financial case for a green home may not be as cut-and-dried as for standard homes, Turner says, but the marketing is changing fast when it comes to green.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
MORTGAGE & REAL ESTATE NEWSLETTER

Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.

Blog

Judy Martel

Slow thaw in housing

March housing numbers reflect problems with costs, supply and demand.  ... Read more

advertisement
Partner Center
advertisement

Connect with us