If you’re flipping a house, consider the benefits of going green. Many state and federal programs have been implemented to provide forgivable loans or tax credits when you choose to use environmentally friendly or energy efficient features in the home.
Homebuyers may be willing to pay higher rents for a home that has lots of energy-efficient features. As a result, people who go green when rehabbing a property are often able to sell the home at a higher price than they would be able to sell a comparable home without green features.
Here are seven ways to make your next project greener and more appealing to environmentally conscious buyers.
- Landscaping: When landscaping, select plants that do not require much water. You can avoid using pesticides by choosing plants that don’t attract many pests. Use compost and mulch to keep the soil moist and nutrient-rich. Install an irrigation system that will water the landscaping on a schedule to minimize evaporation and runoff.
- Lighting: Many homebuyers appreciate natural light, which cuts down on electricity costs. Install energy-efficient windows and update light fixtures with energy-efficient bulbs during your rehab.
- Solar Panels: Solar panels are more affordable than ever, and can save homeowners a significant chunk of money in energy costs over the long-term.
- Heating/Cooling: Install energy-saving heating and cooling systems. Check with a local energy company to find out about any applicable rebates or tax breaks that may be available for homeowners who install energy-efficient air conditioning or heating systems.
- Water/Plumbing: Insulate pipes to minimize heat loss. Install low-flow showers and low-flush toilets.
- Appliances: Install appliances with the “Energy Star” rating, which will cut down on energy costs.
- Insulation: If a home has inadequate insulation, the costs of heating and cooling the residence can quickly become exorbitant. Installing proper insulation and sealing any leaks in the home can easily save hundreds of dollars in energy costs. Some state and federal programs offer forgivable loans or tax breaks when you install energy efficient windows, insulation, solar panels, light sensors, time restricted irrigation systems, and more.
Green homes are attractive to homebuyers because the sustainable features will save them money in the long run and cause less damage to the environment.
Are you passionate about rehabilitating distressed properties in an environmentally friendly way but you lack the capital to get started? Gorilla Capital can help. Check out the Fix & Flip Calculator to find out how a typical funding deal works.
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