Homeownership Could Get More Expensive

Suburbs Home Energy

Canada's per capita energy consumption and greenhouses emission is one of the worst highest in the world. 17% of greenhouse gases come from heating and cooling our buildings.

The International Energy Agency created a report in 2015 which looked targets and current situations in many countries. It said Canada was a long way from meeting the goals set in it's 2020 and 2030 climate targets.

An effective way to reduce our greenhouses emission would be to toughen our building code and transition to low-carbon construction techniques. More strigid building codes for provinces would likely mean a higher construction cost which would, in turn, make it more expensive to buy a newly built house. It would also make it more expensive to those looking to do renovations or additions to their current buildings.

The government is looking at gradually requiring homebuilders to meet a net-zero ready standard by 2030. This would be ultra-efficient designs with a goal of making homes consume no energy.

Many in the building industry caution that tougher building codes introduced too quickly can drastically impact the economy and more importantly have a big impact on the cost of new houses built under the new code. Kevin Lee from the Canadian Home Builders' Association says changes could add $30,000, $40,000 and even $50,000 to the price of an existing home to meet the targets set out by the Canadian Government.

Yes, making changes to the building code will help curve our greenhouse emission but the way we design and build new communities in the suburbs does prove worrisome. Our new and improved building code will give us homes that consume little to no energy but the way we get to them will still be byways of paved strips of roads in our carbon dioxide producing cars.

If you are looking to buy, sell or rent a property in Ottawa, trust the expertise of Roch St-Georges, broker with EXIT Realty Matrix call 613-889-7732 to discuss your real estate needs. If you are a homebuilder looking to partner with a team of professional Realtors® we would love to chat.

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