Taking the extra steps to make a house you’re flipping more “green” can improve the value of the home and entice eco-conscience home buyers. However, there are a number of pitfalls that you need to be aware of when going green with your investment properties. Here are some considerations you should keep in mind when going green.
- What is the ROI of going green?Many green fixes can be made that won’t cost you any extra and will have great return on investment. These switches can be as simple as using low-energy light bulbs and replacing old kitchen appliances with Energy Star-rated appliances. Other changes don’t make sense in terms of house flipping. Two of the least sensible changes are replacing old windows with energy efficient windows and adding solar panels to the roof of a home. New windows are sometimes a necessity, but if the windows of your property are in decent shape, you should leave that upgrade to whoever buys the house from you. Likewise, solar panels are a good long-term green investment, but they won’t give you a solid ROI in the short term.
- What green choices can my contractor make?Contractors can use materials that are considered green, and if you choose a contractor who has worked with environment conscious materials before, they should be able to help you make smart decisions that will make the home more eco-friendly without hurting your bottom line. Even if your contractor isn’t an expert on green, you should be able to work with them to find green materials they can use in place of their usual supplies. If a contractor knows how to lay carpet, they also know how to lay eco-friendly carpet.
- Is getting my home green certified necessary?Some home flippers feel the designation is important, but most home buyers aren’t interested in having a home that certified green. Rather, they want a home that is green. The label is less important than being able to show potential buyers what measures have been taken to make the home eco-friendly.Talk to a rehab loan lender today at Zinc Financial by calling (888) 552-6637 to learn more about specific steps you can take to make your investment properties more green. With our investor rehab loans, you can make the world a more environment friendly place one home at a time while also turning a profit for yourself. It’s a win-win situation.