Making your house eco-friendly can make or break the deal. Everyone should know that it’s easy being green!
In May 2011 the Council of Australian Governments (COAG) implemented a system that rates the energy efficiency, greenhouse and water performance of a home. When an owner wants to sell a property, they must disclose the level of energy performance to prospective buyers.
Did you know that 26 per cent of carbon emissions come from our private homes? With the hot issue of fossil fuels, water restriction, and the growing effects of global warming, the government has been encouraging all of us to do our bit to reduce our carbon footprint.
Actions like installing insulation or retrofitting the latest in efficiency products to a home will help to lower utility bills and add to the value of the home when it’s time to sell.
Water tanks can be used to water the garden and wash the car, greatly reducing water bills. Energy efficient light bulbs will reduce your electricity bill, and as many will know the government has actually phased out the sale of many standard incandescent light bulbs over the 2009-2012 period.
On the private front, investing in energy-efficient white goods will save you some extra cash on your energy bill. For example, that old beer fridge in the garage could be costing you around $200 a year! Other expensive culprits include deep freezes, tumble dryers and old CRT televisions. You should work out the running costs of old white goods and consider whether you still need them, or work out whether to replace them with newer, more energy efficient models.
As an investor, these eco-friendly additions that reduce running costs and power consumption can help you to attract tenants and can be the reason why they choose your property over the one down the street.
It’s not only the politicians who have to face up to climate change. We all do. It’s our world to save for our children.
If you want to learn about green property investment property solutions then feel free to get in touch!
CEO McCarthy Group