Investing in Energy Star-grade upgrades can yield investors higher returns.<\/p>\n
According to Corey McBurney, president of EnerQuality, which partnered with Natural Resource Canada to develop the Energy Star certification, smart technologies lower investors\u2019 expenses.<\/p>\n
\u201cIt\u2019s twofold,\u201d said McBurney. \u201cIf you\u2019re renting out to a tenant, the core value proposition is energy savings, so your monthly operating cost, if you own an apartment building or a single unit, comes down because the occupant enjoys the same level of comfort and temperature, yet the cost is reduced because you\u2019re installing advanced measures, whether they\u2019re lightbulbs or things around the actual construction of the building, like a big mechanic HVAC system.\u201d<\/p>\n
The asset\u2019s value will also appreciate down the road with Energy Star certification. A major reason, says McBurney, is because consumers are attentive about environmental concerns.<\/p>\n
\u201cThe resale value\u2014and your monthly operating\u00a0 net\u2014and an added brand bump of being a third-party certified government-backed building will make it a more attractive product down the road,\u201d he said, adding there\u2019s a huge market in the purpose-built rental sector for energy-saving buildings.<\/p>\n
\u201cIf you\u2019re building purpose-built rentals, you\u2019re holding property. The owners are keenly interest in, not just their one unit\u2019s energy savings, but the building as a whole, and it\u2019s important to that class of investor and developer, but it applies equally to the condominium sector. Whether an investor or somebody buying their home, the same logic applies.\u201d<\/p>\n
Ankur Puri, a strategic real estate investor, speaker and mentor who runs Ank Real Estate Investments Inc., can attest to the value Energy Star-approved renovations provide both properties and bottom lines. He renovated a home in Ingersoll, ON, and renovated it to Energy Star code.<\/p>\n
\u201cI changed the windows, the insulation in the basement and a few other things required to the get rebate from the government, which amounted to $3,771, he said. \u201cWhen I do the renovations, I\u2019m putting all the money in by myself, but there\u2019s a process to make sure you get the money back.\u201d<\/p>\n
An inspector will examine the property and rate it before renovations, provide a list of necessary upgrades, and return once they\u2019ve been completed.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
Investing in Energy Star-grade upgrades can yield investors higher returns. According to Corey McBurney, president of EnerQuality, which partnered with Natural Resource Canada to develop the Energy Star certification, smart technologies lower investors\u2019 expenses. \u201cIt\u2019s twofold,\u201d said McBurney. \u201cIf you\u2019re renting out to a tenant, the core value proposition is energy savings, so your monthly […]<\/p>\n","protected":false},"author":6,"featured_media":21514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8069"}],"collection":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/comments?post=8069"}],"version-history":[{"count":1,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8069\/revisions"}],"predecessor-version":[{"id":21513,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/posts\/8069\/revisions\/21513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media\/21514"}],"wp:attachment":[{"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/media?parent=8069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/categories?post=8069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.canadianrealestatemagazine.ca\/wp-json\/wp\/v2\/tags?post=8069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}