Sustainable features can be a boon to an investment property’s value. Here are some easy changes that can help you boost your portfolio.
With any investment property, the biggest factors shaping its value are always going to be location, size and features. For landlords though, the location of their property is already set and increasing the footprint can mean an expensive extension. It’s in a property’s fixtures and fittings where many of the quick wins are for property owners.
One area in particular that has received a lot of attention is sustainability. Sustainable features are becoming more and more sought-after by tenants looking to keep their bills low, and can help landlords boost their investment.
If you want to make your property more sustainable, there are a few easy changes you can make:
While this can be tricky in a strata property, effective insulation is one of the easiest ways to reduce a property’s carbon footprint, cutting heating and cooling bills throughout the year.
When installing appliances, or even making larger changes like replacing doors and windows, look for energy-star ratings and water-use ratings for equipment like dishwashers and washing machines. These will help keep the property’s energy use in check.
Plant more greenery
Trees, particularly large ones, can keep a lid on temperatures especially in summer and reduce the need for air-conditioning. According to figures in the Sydney Morning Herald, suburbs with a lot of tree cover can be up to 13 degrees cooler than those without on hot summer days.
It doesn’t take much to make your investment portfolio a little more sustainable for tenants and help cut down running costs. It’s these little changes that can make a big difference for your rental property’s value.