Investing in Real Estate: Is it Worth the Green it Takes to Go Green?
Typically the articles on this site address investing through stocks, bonds and mutual funds. However many people have made their fortunes, or at least a comfortable living, by investing in real estate. Whether we turn out to be real estate moguls like Donald Trump, or just need a roof over our heads, we all need to make real estate decisions at some point in our lives.
There are many choices that need to be made when youâ€™re building, buying or remodeling a home. Certainly style is one of them â€“ you want your home to look nice and serve as a representation of your personality. Comfort is another one high on most peoplesâ€™ lists â€“ you want your home to be a place you can relax and unwind. Now what about the financially driven decisions you make with respect to your home?
Certainly when buying or building a house there are certain things we all look at, whether or not we want to. We all look at the price, how much money we have, how much the bank will loan us, and how much our monthly payments will be. But what about looking at our homes as an investment? We all buy houses hoping that the market will work to our advantage and make the value of the house increase each year.
However, rather than sitting idly, waiting for the market to decide how much our house will be worth in a few years, there are steps we can take to increase the values of our homes, and increase the chances of it selling at a much higher price than we paid. Lucy Maher of Forbes.com writes an article on this very topic, that provides some specific advice for people in this situation. Maher states that one way many people are increasing the value of their homes, old or new, is by adding environmentally friendly features. By using â€œgreenâ€ materials, like using U.S. Forest Service-certified wood and chemical-free glues, you can add a lot of worth to your investment.
While some of these materials and extra environmentally friendly features might cost more in the beginning, the extra efficiency they bring will likely save you money throughout the time you own your home as well as increase its selling price. In the end it seems that the greater the investment, sometimes means the greater the reward, and that going green brings rewards on many fronts, both for the environment and for your bottom line.