A Baltimore-based real estate developer is finding going green is affordable, too.
A+ Neighborhood Homebuyers is offering its first affordable and energy efficient home. It includes a tankless water heating system. The developers also cut costs by repurposing the building's wooden beams and studs and by using eco-friendly cellulose insulation instead of the more traditional fiberglass insulation.
"It was an idea that our private lender suggested. He said that since we had renovated several houses throughout the city in the last several years that we should try something new. We used a consultant for the project who showed us different strategies we could use to save money in our construction budget," says Marcel Umphrey, company co-founder.
The project is proof that going green does not have to be expensive, according to Umphrey.
"A lot of investors think that if you go green it will take a lot more money than you would usually spend on a typical renovation. We found that we actually saved a little money. We used cellulose insulation because that was more cost efficient," he says.
The company is working on more green homes that also include Energy Star-rated appliances have received green audits before and after the renovation. They will run between $150,000 and $180,000. Umphrey expects to host an open house in mid-September.
Source:Marcel Umphrey, A+ Neighborhood Homebuyers
Writer: Lucy Ament