Increase your Investment Properties Value with a 'greenovation'
We are all becoming more environmentally aware in our day to day lives, so why not adopt a 'green' philosophy for your investment property, while also increasing your rental return and property value.
How?
There are a variety of sustainable renovation tips that can both increase your properties value, add appeal to renters and potentially increase your rental return for your IP. All without breaking the bank.
- Energy Efficient Lighting
- Solar Power
- Low Maintenance Gardens
- Gas Heaters
- Water Saving Shower Heads
- Insulation
- Rain Water Tanks
Energy Efficient Lighting
Simply changing your light globes to energy efficient globes is a cheap and effective way of reducing your carbon footprint, saving money on electricity and adding extra appeal to your property for environmentally conscious and cost conscious renters.
Solar Power
The Australian government offers generous incentives for installing solar power. A solar panel attached to your roof can collect the suns rays, converting it into electricity and cutting your power bills by up to 80%. Would this appeal to you as a tenant?
Low Maintenance Gardens
Water wise and low maintenance gardens make a lot of sense. This does not mean that the garden can't be attractive too. Adding plants that are native to the region and therefore suited to the local environment will reduce the need to water the garden. Succulents are another great choice for a water wise garden. If your property has a lawn, does it really need it? You could replace the lawn with groundcovers or a paved area, reducing maintenance costs and water.
Gas Heaters
Installing an instantaneous gas water heater will again reduce electricity costs and your carbon footprint. Or one step better than this is a solar hot water system. The Australian government currently also offer rebates on solar heaters.
Water Saving Shower Heads
Another cheap and effective green change is simply replacing your showerheads. Adding water saving showerheads can save money and water for a few dollars.
Insulation
Insulation will help keep the warmth in during the cold of winter and summer heat out on those hot days. Saving money on heating and cooling costs.
Rainwater Tanks
Rainwater tanks are relatively cheap option to help make your house more sustainable and environmentally friendly. Captured rainwater from your roof can used to water the garden, clean your car and even used to for washing clothes.
For a small investment property investors can feel good about their contribution towards helping green the planet, and at the same time increase the value of their property and potentially increase their rental return.