Healthy and sustainable building depends on location, features, and marketing to increase profitability, according to John Burns Real Estate’s New Home Trends Institute panelists.
To make healthy and sustainable homes marketable and profitable, builders should establish a “brand promise” of quality with upgraded features that draw in buyers not necessarily based on value proposition but on their emotional connections with the space itself.
According to three experts who just spoke on our monthly New Home Trends Institute webinar, increasing profitability through healthy and sustainable building requires three things:
- Location: You have to be in the right communities and price ranges where consumers will pay a premium. At affordable price points, you need to be building in scale.
- Features: Only include the features buyers will pay for, with a particular focus on the ones that play double duty supporting both health and energy efficiency for savings.
- Marketing: You have to make a significant investment in brand building, and then push the right buttons to make people want to buy it (hint: it isn’t educational displays in your model). Having a brand known for sustainable building can pay off in many ways, including more opportunities to buy land and easier entitlements with the local municipality.
For more key takeaways from the New Home Trends Institute webinar ...
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