Going green is more than a trend; it’s a movement. Many prospective homeowners are willing to pay top dollar for a home that they perceive to be eco-friendly, and with your fix and flip business, you can be the one to help the green initiative and rake in the profits.
“Eco-flipping” is the home renovation business of the future. There is a lot of money to be made transforming a foreclosed home into an eco-friendly oasis, and each year more home flippers are getting a piece of the action by going green. So, what exactly is eco-flipping, and how can you get started? Let’s explore the basics of eco-flipping and discuss some creative ways to go green on your next fix and flip project.
What Is Eco-Flipping?
When you “flip” a property, you purchase an old house in disrepair with the intent to remodel it and sell at a higher price, turning a profit. Eco-flipping is the practice of flipping a house with the intent to make it more eco-friendly, utilizing green trends like solar panels or sustainable materials.
How Can Eco-Flipping Boost My Business?
If you have a fix and flip business, there are many reasons why you should consider eco-flipping. For starters, green homes are better for the environment. If you are interested in reducing your business’s carbon footprint, you may consider incorporating some green elements into your remodel.
Additionally, eco-conscious practices are trending among consumers and you may be able to turn a larger project if you incorporate green elements into your fixer-upper. Buyers are attracted to energy-efficient features that will save them money and make them feel good about their purchase.
While you’ll pay more upfront for green materials and may need to acquire funds for your green remodel, eco-conscious properties are in high demand and you are almost guaranteed a high return on your investment. Keep in mind that you’ll want to obtain a LEED or Energy Star Certification, which signals to customers that you have created a truly green and energy-efficient building worth paying top dollar for.
How Do I Get Involved?
If you are a seasoned property investor, getting started in eco-flipping is easy. There are countless ways to make your home improvement business more green, and you don’t have to dive into the deep end right away. Let’s explore some ideas to incorporate more eco-conscious practices into your fixer-uppers to enthrall potential buyers and reduce your business’ carbon footprint.
1. Incorporate Sustainable Materials
You can easily offer more green options when you transition to sustainable building materials. For example, rather than installing regular hardwood floors or tile, consider choosing repurposed wood or bamboo flooring.
2. Reduce Water Waste
Reduce water waste in your flipped property by installing eco-friendly appliances in the bathroom and kitchen. Investing in low-flow toilets, showerheads, and faucets is a great place to start.
3. Cut Cooling Costs
You can reduce energy usage from heating and air units by installing an energy-efficient cooling system like a low-powered central air unit or an Energy Star HVAC system that can cut cooling costs up to 30% while conserving energy.
4. Install Solar Panels
Solar panels are surprisingly affordable and can save potential buyers hundreds in energy costs. Consider installing solar panels in your next fix and flip property.
5. Ditch Fluorescent Lighting
Forget the fluorescents and opt for LED bulbs in lighting fixtures instead. They are more energy-efficient, last longer than traditional light bulbs, and are cheaper long-term as well. Adding additional windows and skylights also amplifies brightness in the space while eliminating the need for electric lighting.
6. Skip Toxic Materials
Ditch the fiberglass insulation, the toxic paint, and the unsustainably harvested wood. Whenever possible, use a product that is sustainably harvested and contains natural ingredients over chemical compounds.
Consumers have an acute desire to live a more eco-friendly lifestyle, and the demand for green products is increasing with each passing year. Between the decrease in your carbon footprint and the increase in profit, you won’t regret going green with your next fix and flip project!
