The vast majority of homeowners, 73 percent, are willing to spend more money on “green” products, despite a softening economy. Even more homeowners, 89 percent, are willing to pay more for products that offer “increased energy efficiency.”
Those are two of the findings of a survey of 734 homeowners. The survey was sponsored by door manufacturer Plastpro and was conducted by the Opinion Research Corp. June 5 to 8.
The results of the survey reveal a willingness among consumers to accept higher initial ownership costs on home improvement projects that promise higher quality and lower lifetime ownership costs.
“Builders, remodelers and contractors who are trying to cut costs by offering products that are only average in quality are choosing the wrong path,” said Franco An, president of Plastpro. “The survey shows that quality is still the defining characteristic for home improvement products despite a decrease in real estate values and a softening economy. Homeowners realize that long-term savings far outweigh upfront costs.”
Other findings from the survey include:
• 86 percent of survey respondents feel that that using contractors and remodelers who are knowledgeable about energy-efficient (or environmentally beneficial) products/materials is at least somewhat important to them.
• More than 90 percent homeowners would rather spend more on a quality product that will last as opposed to a cheaper product of lesser quality.
• Women are 80 percent more likely to spend a little extra on a “green” product, while men are only 66 percent more likely -- However, when it comes to spending more on energy-efficient products it is men 89 percent and women 90 percent.
• Households with three or more people are more likely to choose more energy-efficient products or “green” products than households with one person.