If you’re planning on investing in real estate, it’s important to keep your finger on the pulse of current home improvement trends. At the moment, this means going green.
Eco-friendly improvements are helpful, no matter what you intend to do with a property. If you’re going to rent, a sustainable dwelling can help to attract renters over the long-term. If your goal is to buy a do-er upper, eco-friendly improvements will help you reduce long-term costs.
If you want to flip the property quickly, a green home is still worth investing in. Its eco-friendly investments will naturally increase the sell-ability of the listing and help you move it in a short amount of time.
Green Improvements Reduce Costs
One of the easiest justifications for green improvements is that they aren’t just trendy; they are also cost-efficient. In many cases, they require a larger upfront investment, but the reduced operational costs that come with many green upgrades more than pay for the higher purchase price over time.This is particularly helpful for those who are interested in renting out or otherwise long-term real-estate investments. For instance, sustainable home improvements often include energy-consumption-reducing advantages such as:
● Less electricity required to run energy-efficient appliances;
● Lower heating and cooling bills due to proper insulation and efficient HVAC systems;
● Reduced water usage from low-flow water fixtures.
Though they might feel flashy, green improvements can end up being more affordable than traditional options over the long run.
Sustainable Changes Increase the Value of the Home
With an influx in millennial home buyers, the market has seen premiums on things like efficiency and sustainability. This has made going green not just a way to make a home more cost-efficient. For investors, it’s also an easy way to increase the appraisal value of the home itself.
Even if you’re rapidly flipping a home, this can help you add value quickly. Green upgrades rank right up there with things like smart tech as items that younger homebuyers prioritize above classic desirables such as larger square footage or bigger spaces.
Eco-Friendly Upgrades Increase Buyer Appeal
Once again, if your main goal is to purchase, flip, and then sell in a short amount of time, it’s still worth incorporating green solutions into the project. You may not be able to benefit from the long-term advantages of energy-efficient appliances or thicker insulation, but the next buyer of the home will — and they likely know it.
The presence of green, sustainable improvements can make a home feel like less of a potential project and more of a positive move. This can be a tremendous motivation for buyers.
Additionally, eco-friendly upgrades make a home feel like more of a community-focused investment rather than a carbon-sucking individual extravagance. This is ideal for a culture that is increasingly focused on the welfare of the collective rather than the individual.
Real Estate Can Be a Great Wealth Builder
There’s more to the modern real-estate market than smart homes, digital tools, and cutting-edge tech-driven sales techniques. The growing desire to live a sustainable, Earth-friendly lifestyle is also increasingly reflected in the home buying process, as well.
It doesn’t matter if you’re looking to rent, flip, or fix up your own home, it’s important to keep green improvements in mind throughout the process.
Luke Smith is a writer and researcher turned blogger. Since finishing college he is trying his hand at being a freelance writer. He enjoys writing on a variety of topics but real estate topics are his favorite. When he isn't writing you can find him traveling, hiking, or gaming.