What Green Property Technologies Will Generate a Quick ROI?
In the wake of green consciousness, consumers are becoming more savvy about effects of what they buy on their environment. Today, people actively check product labels in stores for signs of “fair trade”, “environmental friendly”, “recycled material” and so on. The same practice can be said of the property market.
As a landlord with a comprehensive checklist, you should be wary of green technology that can give your house a competitive edge in the property market. They not only give you quick returns, a green upgrade saves you costs in the long run.
1. Whole-house fan
Instead of an air conditioning unit, a whole house could perform the same function and decrease your utility bills. Air conditioners consume a lot of power in the home, although most homes perceive them to be a boon in summer.
The benefit of whole-house fans is they use about a tenth of electricity air conditioners use, saving you money in utilities. If you must have a power cooling system, and exhaust fan is an effective alternative and will save 30% in cooling costs. This has the potential to attract energy-conscious tenants/buyers.
2. Radiant heating system
Radiant heating systems supply heat directly from the floor, wall panels or ceiling of a home. They are largely dependent on radiant heat transfer- which is the supply of heat directly from a hot surface to people and objects in the room via infra-red. The concept is similar to heat transfer from the sun.
The advantage of radiant heating is its efficiency over traditional heating systems, because it eliminates duct losses. People with allergies usually prefer homes with them because they don’t spread allergens like forced-air systems. In addition to all being energy-efficient, radiant heating is cost-saving.
3. Energy-efficient lighting
Regular electric lighting burns up to 25% of the standard home power budget. The electricity used in the life time of a traditional bulb can cost up to ten times the initial cost price of the bulb. Light Emitting Diode (LED) and Compact Fluorescent Lights (CFL) have transformed energy-efficient lighting.
Both are energy efficient, but LEDs are more valuable since they last longer. They do not heat up light, consume less power and have the potential to reduce energy bills significantly, giving your house a boost on the property market. They give your home an edge over non-energy efficient homes, and attract buyers who understand and value the importance of green homes.
4. Tankless water heaters
Traditional water heaters store up to 50 gallons of water in the tank, whether you use the water or not. This isn’t helpful to you or your utility expenses. When you upgrade to a tankless version, you improve water efficiency and attract potential home buyers.
Tankless water heaters are smart because they only heat water you need at that time. They may cost more initially, but are cost-effective in the long run, considering the amount you will save in utilities.
Water waste is a big concern, not only among green conscious individuals, but everybody. So a home with such a technology upgrade will automatically have a plus value.