Ways to Make Your Los Angeles Investment Property More Energy Efficient
Owning a Los Angeles investment property, especially one you plan on renting, can sometimes become a drain on your wallet. Many times, investors do not include the costs of maintaining and repairing a home in their initial calculations for the cost of an investment property. Remember that when you purchase an investment property, you purchase everything that comes with it – old windows, rusty bathtubs, stained hardwood floors and poor insulation.
Those small things might not seem like much in the beginning, but they can slowly add up to unwanted costs over time. If you are an investor planning on becoming a landlord, remember that your home will not always have a tenant and there may be times it goes vacant for a few months. Maintenance fees during this time will include mowing and trimming the yard, keeping vandals out of the home and repairing anything they happen to mess up and sometimes utilities, depending on if you choose to keep them on between tenants.
It’s your utility bill that can start pinching your pocket if your home is not properly equipped to handle heat or cold. While temperatures seem to stay relatively mild in Los Angeles throughout the year, there are a few ways to keep costs low and make your investment property more energy efficient.
Some small ways to help with energy efficiency are replacing windows and light bulbs. Broken or single pane windows can be replaced with energy efficient double pane or storm windows. Their thickness can help keep wanted air in and unwanted air out. Incandescent light bulbs can be replaced throughout your home with fluorescent light bulbs. You will want to replace the light bulbs you use most frequently in order to get the most out of this.
There are other ways to increase energy efficiency, but they tend to be on a larger scale. Insulation is a great way to improve energy efficiency in your property. Insulation will keep warm and cool air in your home longer, shortening the time your air conditioners and heaters need to run. For older homes with unfinished and un-insulated attics, it would be well worth your time and effort to get it both finished and insulated. It’s also important to make sure that any gaps or cracks in the attic are sealed. Insulation can also be blown into the walls, if necessary. Replacing old appliances like refrigerators and hot water heaters with newer, more efficient models can help lower utility bills.
These are just a few of the things you can invest in to make your Los Angeles investment property more energy efficient.
Karissa Valverde is a real estate investing enthusiast with a focus on newbie investors. She is also a member of MyHouseDeals.com, which is where she goes to find investment property leads.
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