Sustainable property investment is something that more and more people are looking into. It might seem like a niche market, but it’s pretty big and only getting bigger. According to the Global Sustainable Property Investment Report 2018, sustainable property investment has grown by an average of 20 per cent yearly since 2014.
This means that now is the perfect time to start thinking about how you can make your next property investment more sustainable. With so much focus on sustainable buildings in recent years, there are plenty of ways you can make your next property investment greener, safer, and more cost-effective all at once.
There are always new initiatives being developed in property sustainability; for example Walt Coulston the Founder & CEO of GreenSquareDC explains in his latest podcast how his extensive career in real estate helped him to develop a new sustainable data center platform in Australia.
Use renewable energy
One of the easiest ways to make any building more sustainable is to source renewable energy. If your building runs on electricity, you can choose to buy it from renewable sources. It might be more expensive up front, but it will pay off in the long run, thanks to the reduced costs associated with carbon credits, which grid operators have to buy to account for carbon emissions. The same goes for fuel used in buildings that rely on gas.
Renewable energy sources are well worth considering if you’re planning to invest in a large-scale building project in the near future. Not only will they help your investment become more sustainable, but they’ll also help it become more attractive to tenants, leading to increased revenues in the long term.
Increase insulation
If you’re planning to make improvements to an existing property, increasing insulation is another easy way to make it greener. You can install better insulation in your walls or ceilings, such as fibreglass or polystyrene. You can also add extra layers of weather stripping to any windows or doors on the property to ensure no heat escapes. Even increasing the insulation already in place can make a big difference. If you’re planning to buy an existing property, you can ask the owner to conduct a thermal assessment, letting you know how much insulation the property currently has.
Use energy-efficient materials
When it comes to materials, there are plenty of greener alternatives to the traditional building materials we’ve become accustomed to, such as concrete or steel. You can source timber from certified sustainable forests, while hempcrete is a fantastic alternative to concrete. It’s an excellent insulator and is entirely carbon-neutral to grow. You can also use recycled or repurposed materials, such as reusing bricks from old buildings or repurposing old tires for construction. Using these materials not only helps your investment become more sustainable but can also help lower the project’s overall cost.
Add green spaces to the property
Investing in sustainable buildings is just one part of the puzzle; you also need to ensure the property surrounding it is sustainable. You can do this by adding green spaces such as rooftop gardens or landscaped gardens to the property. Not only will this look great, but it can also help improve air quality and reduce noise pollution. It’s also a great way to enhance the surrounding area for residents and neighbouring businesses. If you’re planning to add these types of green spaces to an existing property, you’ll have to consider the impact they’ll have on any neighbours and local businesses. For example, a rooftop garden might block out the view of neighbours, while a landscaped garden may disrupt foot traffic.
Conclusion
When it comes to sustainable property investment, you can take plenty of measures to make your next investment greener. Using renewable energy sources, increasing insulation, using energy-efficient materials, and adding green spaces to the property are just a few ways to do this. If you want to make your next investment more sustainable, the first thing to do is to find out which sustainable building certifications and standards apply to your property. From there, start looking for ways to improve your investment. With a few simple changes, you can make your next property investment greener and more cost-effective for years to come.
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