If you are looking to buy an investment property that is environmentally conscious, or already own one and want to look at ways to make it more efficient, you’re in the right place. We’re here with four different ideas to help reduce the carbon footprint of a property, which are all so worthwhile in terms of attracting tenants who care about the environment, whilst also meeting EPC requirements and reducing the carbon footprint of the property. If you’re looking at property investments in Leeds, London, Manchester or other cities heaving with young professionals who are increasingly cautious about their environmental impact, this is such a good way to remain competitive.
Solar Energy
Firstly, incorporating solar energy is one of the best things you can do to make your investment property more eco-friendly, and it’s one of the biggest incentives for potential tenants. The cost can be spread over a number of years, and not only do they increase the property value if you do choose to sell at some point, but also reduce energy costs, give you a marketing advantage when it goes to market, as well as potentially providing additional income if you have a surplus of electricity that is fed back to the grid. The long term savings and return on investment outweigh the initial cost, with minimal maintenance being required.
Energy-Efficient Retrofitting
Another great option is to look at energy-efficient retrofitting. If you’ve bought an older property this is particularly relevant, as retrofitting refers to upgrading components of older buildings with features that help to reduce energy consumption. Replacing windows with triple glazing, improving the insulation throughout the property, making sure the lighting is energy-efficient and upgrading appliances (including the boiler) all contribute to reducing unnecessary expenditure in terms of energy.
These components will all help to significantly improve your EPC rating, which means you not only reach and exceed legal requirements, but you’ll also be in a position to advertise higher monthly rental yields.
Electric Vehicle Charging Station
If you have parking at your property, installing an electric vehicle charging station can also be a valuable asset. Particularly in commuter areas and amongst young, environmentally conscious people, there is a growing adoption of electric vehicles which is presenting a significant opportunity for property investors.
Water Conservation
Lastly, installing water conservation features would be highly recommended. Implementing systems that save water, by either capturing and utilising rainwater, or recycling greywater for irrigation, helps to promote sustainability and reduce water consumption. In turn, this also reduces water bills. If the area you’re investing in is particularly drought prone, or has high water costs, then this is particularly important.
You can opt for more significant investments here to change the way that water is used in the property, or you could go for less expensive options, including low-flow shower heads and taps, dual-flush toilets and also to thoroughly check the property for any leaks. These small eco-friendly changes all add up to help reduce your environmental footprint and to help your tenant save money.
