Have you ever thought about investing in property? Property investment is one of the best and most popular ways to grow your income alongside your full-time job, and can even become a career in itself. If you’re conscious of environmental issues, however, you might be wondering how property investments fit into this. The good news is that property investment can be eco-friendly, as long as you take certain steps and keep some things in mind.
Certain property investments are capable of being eco-friendly. If you purchase a new build rather than an older build like a period property, this is a much greener option. New build properties use a lot less energy as they have better insulation, resulting in cheaper yearly energy costs. Investing in a new build property such as those from popular company RW Invest is a great option, as many of their properties also come with eco-friendly features like smart lighting.
So, just to convince you a little further on why this could be a great venture for you, here are some reasons why you should make an eco-friendly property investment.
It’s a great investment
Eco-friendly properties are one of the best assets you can invest in. The world is slowly becoming more and more environmentally conscious, with millennials reportedly being more inclined to buy a product or service if it fits their green ethos. By investing in a property that helps the environment in some way, you’ll open yourself up to the opportunity to attract high levels of rental demand, ensuring a constant stream of tenants. The fact these type of properties are a rarity will also give you some edge amongst competition, allowing you to offer your buy to let property with higher rental costs.
With the world expected to continue growing more aware of the environment and what we can do to save it, these forward-thinking eco-friendly properties are the future. This means that by the time you choose to sell your property, it could have grown in value, allowing you to benefit from attractive returns through both rental income and also capital growth.
You’ll be helping the planet
At the same time that you’re making some extra income and helping grow your financial status, you’ll also be helping the planet. Whether your property is a new-build, or you’ve gone all the way and invested in a property with multiple eco-friendly features, you can rest assured that you’re improving the environment in some way.
While investing in a property that’s purposely eco-friendly is a good step, you can also customise your existing investment. Check the insulation in all of the rooms and hire a specialist to come out and fix any faulty structures, replace any old windows, or fit new insulation into the walls, floors and ceilings if need be. You should also consider installing technology like smart lighting and a smart meter, along with buying energy efficient appliances for the property.
Replacing your showerhead with a low-flow showerhead is another great step, helping your tenant to conserve water more easily. If the property is particularly old, you should also think about checking the plumbing and pumps in the property. Leaky pipes and plumbing issues can result in a lot of water waste, so ensure you fix any maintenance issues before your tenant moves in.
You can diversify your property portfolio
If you already own one or two investments and are hoping to build a wider portfolio, focusing on making an eco-friendly investment is a good option. Adding an eco-friendly property is a perfect way to diversify your portfolio and spread your money across different investments. Doing so will help to minimise risk and further protect yourself from market changes which could affect the success of your investments.