We all want to do our part to protect the Earth, right? After all, it’s the only home we’ve got.
When it comes to house flipping, you may be wondering whether making the ‘green’ choice is always the right choice. Well, the short answer is—it depends. Doing things the environmentally friendly way can actually make you money in the long run. According to the U.S. Green Building Council, initial investments in green building make a property much more valuable, with an average expected increase in value of 4 percent. Increasingly, home buyers see the value in the expected lower utility and maintenance costs. Here’s what we recommend:
Energy Efficiency Is Key
These days, most folks have heard of Energy Star ratings. Well, that means that most savvy home buyers have come to expect these environmentally superior appliances, doors and windows in a potential home purchase. Although the initial acquisition price of Energy Star items may be higher than conventional products, they often promise lower operating costs over their lifetime—making them even more attractive to home buyers. And since the government would like to steer people toward these products, they frequently offer rebates and tax credits to subsidize the upfront expense. That is good news for house flippers! Check out the EnergyStar.gov site to find out more specifics.
All Insulation Is Not Created Equal
But don’t stop there! Energy efficiency extends well beyond appliances and windows. Consider the importance of a well-insulated house in regulating heating and cooling costs—your potential buyer certainly will. With recent technological advances in home insulation products such as rigid board insulation and spray foams, it’s never been easier to raise that R-value and make the sale.
Recycled Products Make Sense
And if keeping your building costs down is your priority (with saving the planet being a nice bonus), you may want to investigated the many recycled products on the market today. From countertops like Grenite to plastic lumber like Markstaar to composite roofing materials like Titan, it has never been easier to find affordable, earth friendly building materials. Home buyers interested in doing their part to reduce their carbon footprint may be impressed enough to pay an upfront premium. That’s a win-win for everyone involved.
As with any real estate investment project, it pays to know your potential buyer. Consider the dollars and cents involved in making energy efficient and environmentally sound decisions in your next fix and flip. Marketing your project as a healthy, clean home may allow it to stand out from the competition.
But whether you decide to go green or not, NavCap can help you secure funding at terms and rates amenable to you. Reach out to us today at info@gonavcap.com or 443.603.0193 to find out more about all of our innovative fix and flip financing options.