Property investors buy homes, businesses, and land with the intention of selling their assets in order to make money.
Many property investors, however, have a bad reputation for making money at the expense of the planet. The construction market accounts for half of all the non-reusable material consumption in the entire world. Depending upon rent or above value sales to make money means that corners are often cut at the expense of the environment when buying an investment property.
The bad news for property investors is that the environmental crisis will affect their incomes just as it affects the rest of the world. Real estate investors are likely to see their incomes crushed as buildings become unlivable, resources become scarce, and areas become undesirable to live in or simply sink under rising oceans.
The good news is that property investors can do something about this future shock. You must be prepared to invest soundly with the environmental crisis in mind. You also have a moral duty to curtail the amount of environmentally unsound investments that you make.
Here are some ways in which property investors can be more environmentally friendly.
Invest In Insulation
Insulation is extremely important when attempting to keep a home or commercial building environmentally responsible.
Property investors should consider the importance of outfitting their properties with features like double glazing. Not only is double glazing good for the planet, but it also increases the value of a property by making it easier to heat in the winter. Many countries have schemes in place to help properties pay for insulation and double glazing. Click here for help with applying for this kind of scheme in the UK.
Consult With Conservation Groups
Local conservation groups in the area you are investing in may have ongoing schemes or future initiatives to promote a varied and healthy natural ecosystem.
Your property could be of use to them or their peers. This kind of consultation and subsequent collaboration is good for the environment and your standing among the local population simultaneously.
Audit Environmental Impact
Most property investors will conduct or commission an audit of prospective purchases. It is important to audit the environmental impact of the building that is to be purchased. Buildings that release environmentally dangerous toxins, are made of single-use material, and have poor insulation will rapidly decrease in value as the environmental crisis unfolds.
Take Care With Materials
Property investors often commission building works or internal improvements in order to ‘flip’ a property or sell it for more than it was purchased for. Some materials used in building work are incredibly unsustainable.
Ebony, for instance, might look aesthetically pleasing but is very environmentally damaging. Pick woods and stones that come from sustainable sources. Better still, use recycled materials in order to further dampen the impact that a building project will have.
Think about where your materials come from. For instance, if a stone has travelled far, it will have a vast carbon footprint that will be difficult to balance out.
Property investors who make an effort to become more environmentally friendly will guarantee their longevity in the industry.