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06-16-2006, 05:07 AM
Home prices set to soar
June 15, 2006 - 2:51 pm
By: James Munroe
The average price of a new home in Toronto is $395,000.
That could soon seem like a bargain.
In the name of saving energy, the cost of buying a home could soon soar $2,000 to $10,000 depending on the level of energy efficiency.
The new higher standards could involve things like insulation, ventilation and energy-efficient furnaces and appliances.
A lot of people are wondering how much the final pricetag will be. Victor Fume, the president of the Ontario Homebuilders Association, said his organization is in favour of improving energy efficiency but in small measured steps so as to not make new homes unattainable.
The bottom line is new homes will cost more next year due to energy standards: how much more is yet to be determined.
A new home would cost $4,000 to $5,000 more if the code requires houses to meet energy star standards, now followed by about 100 builders and growing in popularity, Fume said.
The cost rises to $12,000 or $15,000 in so-called Energuide 80 homes with 10 inches of r-32 value insulation in walls and 18 inches of r-60 value insulation in ceilings, all of which requires substantial changes in construction techniques, he added.
"We need to strike a balance between energy efficiency and the cost of a new home."
June 15, 2006 - 2:51 pm
By: James Munroe
The average price of a new home in Toronto is $395,000.
That could soon seem like a bargain.
In the name of saving energy, the cost of buying a home could soon soar $2,000 to $10,000 depending on the level of energy efficiency.
The new higher standards could involve things like insulation, ventilation and energy-efficient furnaces and appliances.
A lot of people are wondering how much the final pricetag will be. Victor Fume, the president of the Ontario Homebuilders Association, said his organization is in favour of improving energy efficiency but in small measured steps so as to not make new homes unattainable.
The bottom line is new homes will cost more next year due to energy standards: how much more is yet to be determined.
A new home would cost $4,000 to $5,000 more if the code requires houses to meet energy star standards, now followed by about 100 builders and growing in popularity, Fume said.
The cost rises to $12,000 or $15,000 in so-called Energuide 80 homes with 10 inches of r-32 value insulation in walls and 18 inches of r-60 value insulation in ceilings, all of which requires substantial changes in construction techniques, he added.
"We need to strike a balance between energy efficiency and the cost of a new home."
I was the only member on this board with a Yellow Focus Sedan, and a 2002+ Euro Facelift on a sedan.