Study Shows that Green Home Owners are Less Likely to Default on Mortgages
There are an array of benefits that come along with owning energy efficient homes . Owners have to pay less for their utilities, they receive a nice tax break for their home, and have modern well built homes. Green home builders and environmental activists have argued in the past that eco-friendly homes also benefit bankers and mortgage lenders since green homes are typically worth more than regular homes. A recent study has shown that green homes are for more beneficial for mortgage lenders and banks than people previously thought. The Institute for Market Transformation in conjunction with the University of North Carolina did a study on the connection between energy efficient homes and the risk of home owners defaulting on their mortgage. The study looked at 71,000 single family homes, and 21,000 of the homes had Energy Star certifications. The study revealed that energy efficient houses were 32% less likely to go into default in comparison to homes that lack