Invest in property and be green at the same time
Many of us are very conscious of our responsibilities to the planet – to the extent that we might routinely recycle paper and food packaging, or even donate to fund the upkeep of rainforests.
There are also many ways in which we can look after the environment when we invest in property.
Here are just some of the best ways – and they aren't difficult for either novice or veteran investors to follow.
Look for properties with BREEM assessment ratings
The acronym BREEM stands for Building Research Establishment Environmental Assessment Method. It can be used to assess the eco-efficiency of any type of building, and there are already many buildings throughout the UK that have been given BREEM ratings. Where possible, request to see a property's BREEM assessment rating before you invest in it.
Spend on boosting green features of properties
If you are already investing in properties that have poor environmental efficiency, or are simply struggling to find BREEM rated properties to invest in, you could still set aside funds for boosting the eco-friendliness of other properties.
Though this might be extra money being spent on top of the money that you are already putting into the property, more eco-friendly properties also tend to have lower running costs due to their making better use of electricity. For example, after installing solar panels, you've got a free source of electricity in the form of the sun, while many modern home appliances are more energy-efficient as standard. Hence, in the long term, a bit of this kind of DIY could ultimately save you money.
Advertise the green features of your properties
As many people become more aware of the need to "do their bit" for the planet, they are turning more frequently to eco-friendly products and services. Hence, you can attract even more interest in the properties you own by advertising their eco-friendly features. You could even communicate how much cheaper the accommodation is exactly because it does not necessitate as much spending on electricity.
And, of course, if more and more people are choosing your environmentally sustainable accommodation over that which does not make as much use of green features, that's benefitting not just you, but also the planet. But before you even start on your green journey, you might need to start on your investment property journey.