Ways to Make Your Property Developments Eco-Friendly
Fix & Flip
Design and Renovation
11 Jan 2022
5 min read
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Caring for the environment and making environmentally friendly decisions when investing in real estate is not just a feel-good goal to pursue, it can be a smart financial move that can result in big financial payoffs down the road. Temple View Capital, LLC (“Temple View”) and its affiliates is the first private money lender to lead the charge in becoming carbon neutral, and as a result, investors who partner with us can reap the benefits of joining the effort. The reality is that building or rehabbing properties that incorporate environmentally friendly features is the first step to creating sustainable communities and cities—something worth making moves towards, particularly in a post-pandemic world.
These are five of the quickest and easiest ways to consider incorporating a green approach to your next investment property.
Use the city to your advantage
As more and more communities are moving towards going green, local governments are adapting to provide the necessary resources to accommodate the shift. Investing in a geographic region that is already headed in that direction can make the green investment process easier to navigate.Look at locations that not only have missions in place, but laws in effect to work towards the goal. For example, New York City signed a law that requires buildings with at least six stories and at least 50 units to reduce carbon emissions by 40% by 2030.
Selecting a location that is laying the foundation in place for a greener future will make the investment and renovation process smoother while you also feel like you’re contributing to a greater purpose.
Consider eco-friendly innovations
Technology and appliances have come a long way and it’s worth exploring the options when working to make fix-and-flip properties more sustainable. This is especially true for older properties that need serious upgrades and heavy restoration.
Eco-friendly renovations can include efficient HVAC systems, proper air conditioning and heat control technology, energy-efficient appliances, and so on. Whether you’re working on a fix-and-flip or a fix-and-hold, these adjustments are bound to add more money in your pocket because these properties will attract the environmentally conscious who are likely willing to pay more for the upgrades.
Here comes the sun…
Solar power has been a popular option for safe, renewable energy for a while now. Long-lasting clean energy is one of the easiest ways to quickly create an eco-friendly property. While the initial installation of solar panels can be expensive, the investment is worth it in the long-run and can greatly add to a property’s value when it goes back on the market.
Consider insulating the property
Making a property as airtight as possible is one of the best ways to create a cost-effective, eco-friendly structure to add to the market.Optimizing insulation levels for the ceiling, walls, and floors can help create a zero-energy home for the new tenants or owners. Also consider controlling window and door heat loss by selecting framing strategies that lead to a tightly sealed property, minimizing thermal bridging.
Consider the lighting being used
The types of light fixtures installed in any property can have an effect on how much energy is being used. Consider how you can opt for natural light (i.e. installing skylight designs where appropriate) or installing light fixtures that cut down on the monthly electricity usage.
Making a habit out of supporting eco-friendly investments can create a domino effect of communities experiencing more and more green properties becoming available for rent or sale. This effort can transform cities in the long run. In response to these needs, Temple View is launching a sustainability program with the long-term societal objective of net zero greenhouse gas (GHG) emissions by 2050.
This shift has become one of Temple View’s core values, and as a result, we have partnered with South Pole USA, Inc. on a carbon remediation project in Spartanburg County, South Carolina to convert landfill gas into green energy. The possibilities for how and why to make green real estate investments are endless and we are here to help guide both new and experienced investors through the process.
If you are ready to explore eco-friendly investment opportunities to add to your portfolio, contact us today.