Exit or add? Shaping your property investment future
Making changes to your property portfolio isn’t as simple as buying or selling. Let us talk you through some points to consider.
Finding ways to save and stretch every dollar is something that almost everyone is looking to do in these penny-pinching times.
One of the easiest ways to start is to adopt better practices with your water usage. Being smarter with your water usage not only saves you money on your bills but lowers your environmental impact.
Australia is the driest inhabited continent on Earth and, as a result, most households have put into place some water saving measures. You may be surprised at how simple some water saving tips are.
If you have leaky taps at your home, then you’re not only wasting water but money too. Even slowly dripping taps can potentially waste up to 9,000 litres a year. By getting those dripping faucets fixed you are taking an easy first step towards saving money on your bills.
Another easy step to take is to only use your dishwasher and washing machine with full loads. This allows you to optimise water usage by cutting potential waste. Alternatively, you can change the settings on the machine to suit the load.
The installation of a water saving shower head is a cheap and effective way to limit your water use and save money. When combined with limiting showering time, it becomes a very effective method for saving water.
Other household appliances like dishwashers and washing machines can have water-efficient settings or modes too.
Installing a rainwater tank for your home is another reliable water saving method. For properties with a garden, a rainwater tank is perfect for collecting roof run off and a practical way of gathering rainwater to make sure your plants stay green.
A bonus for property owners is that having a rainwater tank installed is a great way to potentially add value to a property. Possible buyers could potentially find properties that have better water conservation features more appealing.
But water conservation is just one of the ways that you can save money on your bills. Common sense approaches to your electricity bills can also lead to big savings.
When you leave a room, turn off the appliances and lights. Simply being conscious of what you leave on when you exit a room is also a good practice to get into. Particularly with the cost of electricity rising in recent years.
The use of energy efficient technologies in light bulbs means that they have not only become cheaper to operate but are better for the environment. They can also have longer lifespans than traditional light bulbs.
Finally, when purchasing any new electrical appliance be sure to check the energy ratings they have been given. Appliances such as air conditioners, fridges, washing machines or dishwashers are all given energy efficiency ratings to help consumers find the most efficient products that will save you money in your future.
At Little Real Estate, we always look for ways to deliver you tips and services that can help lower your living costs and make your life easier. Contact us today to find out more.
Making changes to your property portfolio isn’t as simple as buying or selling. Let us talk you through some points to consider.
All property investors need to keep an eye on their returns and continuously optimise to improve performance.
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