5 Home Upgrades That Can Save You Money in the Long Run
Many home upgrades and remodeling projects may seem like a serious threat to one’s bank account, but homeowners are often surprised to hear just how much they can save in the long run. Not only will many of these upgrades increase the overall value of the property, residents could be looking at hundreds or thousands in savings every single year with these four tried-and-true projects.
1. A Programmable Thermostat
When it comes to the return-on-investment for a home upgrade, few projects are as appealing as installing a programmable thermostat. Programmable thermostats can help residents set the exact temperature that they would like their home to stay at by the hour and day. Temperatures can be automatically changed when the family is at school, working, or while they are sleeping to avoid unnecessarily heating or cooling an empty home.
2. Tankless Water Heater
Tankless water heaters are a relatively new option that come with a variety of advantages for those who are looking to cut down on their energy costs without sacrificing the comfort of their home. Tankless water heaters are installed much closer to the faucets and fixtures that they are needed for and heat water only as it is being used. This can be compared to older water heaters that keep larger tanks of water at a specific temperature even when it is not needed, which will use up additional electricity or gas.
3. A Home Security System
A security system is a good investment for homeowners for a number of a reasons. First, these systems are easy to install, affordable, and could potentially protect a family or their possessions in the event of any criminal activity. An often unnoticed benefit is the fact that these systems could also cut back on monthly premiums for homeowners insurance. As a general rule, the safer that a home is, the lower the monthly insurance premiums will be. For more information on specific perks, check out Northstar Alarm reviews and those of similar companies.
4. Resealing Cracks
Upwards of 20 percent of the air moving through the ducts alone is lost to cracks and other forms of damage. When attempting to upgrade the home’s insulation and seal up any cracks, homeowners have two options. The first option is to purchase caulking and weatherstrips and spend a few hours covering any visible cracks or openings for a quick fix. As a more comprehensive project, owners can hire a company to carry out a blower door test in which the home is depressurized to find out exactly where the worst leaks are.
5. Advanced Home Solar Systems
Once an extremely cost-prohibitive option only available to the very wealthy, solar panels have largely dropped in cost, while their efficiency is continually increasing. Beyond the many government programs available to help offset the initial cost of investing in solar panels, some companies are now offering to rent out the panels themselves while even offering free installation. This means that these companies have found a way to bypass the huge upfront costs of home solar energy systems while still providing the service to customers.
Houses that run off these systems will be able to work independently from the local power grid as long as they are producing enough energy, while owners can also sell any surplus of energy back to local energy companies, even further reducing the cost of these systems. If you haven’t taken a look at solar lately, you may be surprised by how far these systems and programs have advanced.
Anyone who is looking to upgrade their home should weigh the pros and cons and compare the initial costs to long-term savings in order to get a better idea of the total value of these projects.
Category: Home Renovation
