Case Study: Green, Affordable Living in Orlando – Affordable Housing, Green Building – EcoHome Magazine

EcoHome Magazine linked to this article about a sustainable, affordable home in Orlando. Promoted as part of Green Works Orlando, the 2BR, 1,100 sf Craftsman-style home replaced a 1925 Craftsman-style home “that city leaders determined would be more costly to rehab than to rebuild. ”

Ahem.

Credit: City of Orlando via EcoHome Magazine

The sustainable elements included double-insulated windows, Hardieplank and spray-foam insulation among $15,000 of sustainable upgrades. The final sales price for the project was $120,000. Assuming the $15,000 estimate is accurate, the property would have to generate monthly utility savings of $94 in order to offset the higher mortgage payment with financing of 95% LTV for 30 years at a fixed rate of 6.875%. I’m dubious, but not nearly as dubious as Green Decoder, a TN-based homebuilder who comments “Payback would be about 15 years, twice the amount of time a typical homeowner will live in a residence.”