Whether you are a novice property investor or a veteran in the industry, or even if you are an aspiring homeowner looking to acquire green and smart property, you’re in luck because these two sectors are booming across the globe. Driven by the ever-increasing pressure that governments put on the real estate and construction industries to adopt sustainability and eco-friendly processes, as well as the need of the modern homeowner to find smart and connected homes, property investors are nowadays investing heavily in these modern properties.
And unsurprisingly so, as not only do green and smart properties appeal to the modern homebuyer, but they also help a property investor save money on numerous fronts, while at the same time running a business that is in-line with the local laws and regulations. With that in mind, let’s go over the key tips that will help you research, find, and acquire green and smart investment properties.
Analyze the market trends
To begin your search, you first have to find the right marketplace and figure out what the local trends are predicting for the real estate sector. Needless to say, you can’t expect to find green properties at an affordable price in a market that still hasn’t adopted the trend, nor can you hope to upgrade a traditional property to become smart and green if the local homebuyers aren’t interested in these features. It’s all a delicate game of getting the right information at the right time and then creating detailed forecasts.
Chances are that a shift in the market is approaching and that the market you’re looking into right now is going to adopt green and smart solutions pretty soon – if that’s the case, then you want to acquire a property now and start making the necessary upgrades and renovations. That said, you could opt to invest in a market that has already popularized these features and where people are predominantly looking to find properties that boast green solutions and smart technology.
Make everything connected
One of the key pillars of a functional modern property is smart technology. Tech-driven properties aim to bring comfort and unimpeded functionality into the living environment (or the work environment if you invest in commercial properties) in order to appeal to the tech-savvy customers, elevate their overall quality of life, ensure safety, and of course, facilitate long-term financial savings. To achieve all of this and elevate the real and perceived value of the property if you’re looking to sell it, you have to start integrating IoT and smart tech.
Luckily, the property doesn’t need to be developed from the ground up with smart connectivity and technology in mind, as you can introduce these solutions later on. Consider features such as smart thermostats, a home hub, smart lighting and light sensors, smart locks and security cameras, smart plugs, and of course, smart appliances that people can control with their smartphones or even their voice.
Look beyond your borders
When researching sustainable, green, and tech-driven properties, you should also look beyond your country’s borders and research the regions of the world that are rapidly adopting all of these features and solutions into the real estate sector.
If you are a property investor, working with local real estate development companies to find the most lucrative prospects will help you diversify your portfolio and capitalize in a market where these trends are booming. People who know the ins and outs of the industry, as well as the local market trends, will advise you on property research and acquisition, and help you sell or rent it to the right eco-conscious and tech-savvy customer.
Check for passive conservation features
Another pillar of a green property is passive conservation. Much like with technology, you could just find an affordable property and upgrade it with these features during the development process, but you could choose to acquire a property that has been built with passive conservation in mind.
The key features a green property should have in terms of passive conservation are proper floor, wall, window and ceiling insulation. The key here is to keep the heat from dissipating into the unknown during the winter months and to keep the heat from reaching inside during those grueling summer seasons. In turn, insulation will help with long-term energy savings and appliance longevity.
Introduce active conservation
And finally, active conservation encompasses the technology and solutions you use to actively save energy and water on a daily basis. Modern homebuyers love nothing more than energy-efficient appliances, smart technology, as well as water-saving features such as low-flow showerheads and toilets that help them minimize expenditure throughout the household. These features will not only elevate the resale value of the property but its perceived long-term value as well.
Green and smart real estate are on the rise around the world as homebuyers are increasingly looking to introduce sustainability and financial stability into their lives, all the while minimizing their impact on the environment. With these tips in mind, you should have no problem finding the right property to upgrade and equip for the new generation of homeowners.