Affordable NZE homes: comparing the Victoria, BC market to Edmonton
Last week, Edmonton's Landmark Homes put out a press release announcing it was selling Net Zero Energy homes in Edmonton for less than $400,000
Casey Edge, executive director of the Victoria Residential Builders Association (VRBA), commented underneath the Landmark Homes press release we published last week: “NZE homes under $400,000 in Edmonton.”
The average home price in Greater Victoria is $642k. Edmonton is $391k. A chunk of that is land. Construction costs are also lower in Edmonton versus Victoria, plus we have stringent seismic requirements/challenges. I would like to see the actual cost of land, construction, etc. versus the final price point to support the claim [in the press release from Landmark Homes] of “highly replicable, affordable and scalable.” If so, our members would be very interested. Affordability depends on a community’s average household income. This is approx. $40k in Victoria x 2 = $80k which qualifies for about a $350k home with a low interest rate and a reasonable down payment.