Published 4/21/24
The Rise of Sustainable Real Estate Investments
Sustainability has been one of the hottest topics in the real estate world for the last twenty years. Buyers want a property that isn’t going to hurt the environment they’re in, and that need is shown in higher prices and faster sales.
Whether you’re renovating your first property for sale or you’re considering investing in a sustainable piece of real estate, this is everything you need to know.
1. What Makes Real Estate Sustainable?
A home that’s built with high-quality and reliable materials is always going to be a better investment than something rushed and cobbled together. Although it’s easy to assume that you can just invest in any property and wait for a profit, you can create a larger ROI if you go about it intelligently.
Sustainable real estate is a property that was built or updated with materials that have a low impact on the environment both in their creation and their use. Sustainable properties have as little of a negative action on their environment as possible. These last as long as possible and require few upgrades or repairs as long as they’re well maintained.
2. How to Work Sustainably In Any Environment
The best thing to remember is that sustainability changes drastically based on where you are. The key reason for this is locally sourcing as many materials as possible. A sustainable lawn and exterior for a home in Michigan is going to look incredibly different from a similar property in Arizona.
Consider what weather and events you’ll need to keep in mind for your property, and look into ways you can sustainably help your home stay on guard from those. For instance, using a rain garden and in-ground drainage can keep water at bay if you live in a moisture-rich environment.
3. Why Sustainability Brings Such a High ROI
Over two-thirds of buyers state they’re more likely to purchase a property they believe is sustainable over any other option. This is because people understand sustainability as a property that will last and do as little harm as possible.
Creating a property that will save people from having to make these changes themselves is something many are willing to pay extra for. There’s a lot of work and thought that goes into sustainability that the average person can’t handle.
“When starting on a home renovation journey, I believe in the power of quality roofing materials to not just protect but elevate the quality of a home. ” Jeff Guthrie, Prescott Roofing Co.
4. What Is Greenwashing?
Greenwashing is an important term to know because it’s a common scam in sustainable building. Companies will say their products use fewer materials or are more sustainable, but in reality, they’re treating these as buzzwords instead of actual commitments to the environment and their products.
A sod company may say their product is ‘natural and eco friendly’ despite artificial grass suppliers offering a product that requires less water waste and environmental damage. We all have a natural bias we’ve learned through our lives that can make it hard to tell which companies are telling the truth or not, so make sure to do your research.
5. Weighing Cost Against Quality
Sustainable products aren’t always more expensive, but when they are, it can feel like you’re being nickel and dimed out of a good upgrade. Just remember that these small, seemingly inconsequential decisions can add up to a property that’s worth far more than its unsustainable counterparts.
The quality of most sustainable materials is high because they want it to last a lifetime instead of immediately ending up in a landfill. Ensure that you’re picking for that quality rather than trying to save money.
6. Easy Mistakes to Avoid
There are some mistakes that everyone makes, but that doesn’t mean you shouldn’t try to avoid them! One of these is simply taking any company at face value. Research everything from tools for insulation to the best lawn care companies.
Another is rushing through this project and having to buy everything at the last second. Planning ahead will give you the time to shop for deals, get to know new suppliers, and save a lot more money.
The final mistake is selling without treating the property the same way you’d treat any other. This includes deep cleaning, staging, and setting up an awesome listing. Although sustainability can carry your property for a while, it shouldn’t be the only weapon in your arsenal.
7. Should You DIY Everything?
DIY-ing too much can result in shoddy results. The work you put into a property can undo all of the sustainability if it has to be redone and have materials thrown out. Make sure to only bite off as much as you can chew, and hire pros to complete the rest.
Sustainable Investments Are The Main Goal
If you want your property to succeed, sustainability is vital! Follow these tips, and check out Franklin Investment Realty to make your dream property a reality.
Author Bio:
Sam Willis is a freelance writer that loves sharing his knowledge and expertise in residential and commercial real estate, as well as engineering and construction. He lives in Atlanta, Georgia where he enjoys spending time with his wife and researching real estate trends in his free time. Sam’s work as a freelance writer can be found on Building Product Advisor, a construction industry resource site.
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