Millennials are the largest group of homebuyers and they have a strong tendency to be attracted to homes that have sustainable upgrades. Here are three sustainable property upgrades that really appeal to the eco-conscious Millennial homebuyer:
Heating & Cooling Upgrades
Hi-tech thermostats are incredibly appealing to most Millennials. Nearly half of all energy use in the average US household is attributed to heating and cooling. Hi-tech thermostats help reduce these energy costs. Before paying for a hi-tech thermostat, check with your energy provider. Some offer low cost, incredibly energy conscious thermostats and they will install them for you.
Insulating your house flip with newer, better insulation is another great investment. If you do this, point this out to the potential buyers. Most millennials know the value of an insulation upgrade. While you’re at it, take a look at your furnace and air conditioning unit. Swapping out an old model for a new model or even for ductless mini-splits can be a real attention grabber for Millennial homebuyers.
Reclaimed Wooden Floors
Reclaimed wooden floors are the ideal way to grab the attention of a Millennial homebuyer. Not only are re-claimed wood floors eco-friendly, but they are so gorgeous that they are considered Instagrammable. Reclaimed wood floors add a rustic look to the entire space. Millennials are not looking for the shiniest, newest flooring. They find reclaimed wood to be incredibly handsome in addition to the allure of being ecologically sound. Plus, reclaimed wood almost never emits VOCs like newer flooring may. Millennials know all about these things and are sure to be impressed with your choice to install reclaimed wooden floors.
This is not a cheap investment, but adding solar panels tied into the home’s electrical system is certain to be a highlight of your home. It will absolutely make your home stand out to the newer homebuyers. They also know that the cost of the energy that is saved by using solar panels will translate in their ability to afford a higher price tag on the home.
It’s absolutely not the easiest or cheapest investment, but it will have the greatest impact and they will add significant value to your home flip.
Keep In Mind: The solar investment tax credit (ITC) which you may also see called the federal solar tax credit lets people deduct 30 percent of the cost of installing the solar system from their federal taxes. Plus, this tac credit applies to both residential and commercial systems. Learn more about this credit from the IRS here.
Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.