For upon |In a world that’s becoming more and more environmentally conscious, taking steps to make your property investment more eco-friendly is a smart move. More people than ever, especially millennials, are now more mindful of the environment and are taking steps to live a more eco-friendly life. Research shows that millennials (those born around 1981 and 1996) are more likely to be renting for a long period of time due to an inability to buy their own property, making them one of the biggest target tenants for buy to let investors. Investors hoping to appeal to this demographic of tenant should look into ways to make their next property investment more eco-friendly. Take a look at these ideas on some of the steps you can take to make an eco-friendly investment.
Consider smart features
Smart homes have been big over recent years, and are predicted to grow in popularity even further over 2019. Smart home trends are designed to make life easier and to reduce energy use in the process. Features like lighting which is activated by motion detection or voice activation are an example of this. With lighting that only switches on when a person is in the room, there’s no chance of a tenant leaving the lights on when they’re not in and wasting electricity. Other smart features you could consider adding to your buy to let property include ground source heat pumps that can provide a renewable energy source, and solar panels on homes. Property companies in the UK like RW Invest offer energy efficient apartments with eco-appliances and low carbon technology.
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Go for new-builds
New build apartments are notorious for being more energy efficient than older properties. The main reason for this is that the properties are often equipped with high-quality windows and fixtures, providing better insulation to keep heat in. More than 8 out of 10 new build properties have recieved an A or B energy efficiency rating, whilst only 2.2% of existing properties have the same. This high energy efficiency rating means that new homes are costing owners £443.30 a year on average, whilst the owner of an older home can expect to spend around £1,072.
Help your tenant be more eco-friendly
Once you’ve taken steps to ensure your property is as eco-friendly as possible, you should put some plans in place that encourage good habits in your tenant. For instance, you could insert a dedicated recycling bin into the property to make recycling easier. If you’ve fitted your lighting with energy efficient lightbulbs, ensure these are kept somewhere in the property for your tenant to easily replace them when needed. Other simple steps to keep up the eco-friendly mood of your buy to let property could include stocking a cupboard with natural cleaning products to limit the amount of harmful chemicals entering the environment, and encouraging your tenant to get in touch if there are any water leaks so that you can arrange repairs as soon as possible and avoid water waste.
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