How can I make my old investment property better for the environment?
There are a multitude of changes that you can make to you property to make it more environmentally friendly, it may be easier to incorporate environmental considerations into new properties as these can be introduced at the design stage, but that doesn’t negate what can be done to existing older properties.
So what can you consider incorporating;
Painting – utilize paints that do not have volatile organic chemicals (VOCs), although the alternatives may be more expensive, they are better for the environment and the occupants.
Hot Water Systems – if you cant or don’t want to use a solar systems, try gas, its more carbon friendly than electric, but if you have to utilize an electric system, try one that utilizes a heat pump.
Appliances – replace old appliances with ones that have a high energy and water rating, the higher the better.
Landscaping – utilize native Australian plants, being used to the environment they will have reduced water requirements.
Salvaging/Re cycling – when you renovate or demolish properties, try and salvage as much as possible, always think recycling, you may be surprised at the re sale certain materials have.
Materials – try to incorporate natural products within your renovations, these leave lower carbon foot prints.
Lighting – install energy saving light bulbs, they make take some getting used to, but they are improving.
Water Tanks – Even something as simple as installing a water tank can help, have them plumbed directly into the property or for external use only, it all helps. Plus if your tenants can maintain and water your garden during drought periods it will only maintain if not increase the value of your property.
Insulation – the use of a good insulation will reduce the requirement to mechanically heat or cool your property, reducing electrical and gas usage.
The above are just some of the considerations you could take on board, not only for your investment properties, but also your own homes, in most instances, not only are these considerations better for the environment, but they generally reduce running costs.
In addition, don’t forget that when these works are undertaken on your investments in property they are Tax Deductible, either as Capital Improvements or as Plant & Articles.
If you have any other environmental tips or advise please share them with us, whatever we can do to make our investments more attractive and better for the environment, the better for us all.
Filed Under: Interest Rates • Investment Strategies • Property Investment • Property Investment Tips • Property News • Property Websites • Renovations • Tax Tips
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