There are many reasons that we undertake improvements to the home. For some it’s to improve their currently living space while for others it is to increase the value of the home. When it comes to home improvements to save money, it’s good to know which will add value or save you money and which are a waste of time in that respect.
It may seem like a small change but replacing your old incandescent light bulbs with energy-efficient CFL or LED bulbs can save you money on your energy bills each year.
Weatherstripping and caulking
Sealing up any cracks or gaps around your windows and doors can help to prevent air leaks, which can waste energy and drive up your heating and cooling costs.
Adding insulation to your attic, walls, and floors can help to keep your home cooler in the summer and warmer in the winter, which can lead to significant savings on your energy bills. Upgrading a flat roof to a thermally insulated solution can save you money as can replacing cladding around the exterior of your home or dormer.
Newer appliances are often more energy-efficient than older models, which can save you money on your energy bills. While the initial outlay of the appliance may seem like a lot of money, it will pay for itself over time. New appliances like an airfryer is also a cost effective way to cook using less energy than a traditional oven.
Smart thermostats can help you to save energy by automatically adjusting the temperature of your home when you’re asleep or away.
Solar panels can generate electricity from the sun, which can help you to reduce your reliance on fossil fuels and save money on your energy bills. While they will cost money to have installed, there will come a point, especially with the current cost of electricity, when they will pay for themselves and even offer a return on investment.,
These are just a few of the many home improvements that can save you money. When choosing home improvements, it’s important to consider the cost of the improvement, the potential savings, and the lifespan of the improvement. With careful planning, you can make home improvements that will save you money for years to come.
And Those That Won’t…
While we are often looking at ways to save money, there are many home improvements that can be a waste of money. Some of the most common include:
Wallpaper can be a beautiful way to add personality to a room, but it can also be expensive and difficult to remove. If you’re not sure how long you’ll be staying in your home, it’s best to avoid wallpaper altogether.
Expensive sound systems, high-end pool lights, or showy DIY home upgrades like LED shower heads and toilets aren’t likely to add any real value to your home. If you’re looking to improve your home’s value, it’s better to invest in more practical upgrades, such as energy-efficient appliances or a new roof.
Wall-to-wall carpeting is a major pain to clean and can harbour allergens and bacteria. If you’re looking for a more durable and easy-to-maintain flooring option, consider hardwood, tile, or laminate.
If you’re planning on selling your home in the near future, it’s best to avoid major renovations, such as knocking down walls or adding a new room. These types of projects can be expensive and time-consuming, and they may not add enough value to your home to make them worthwhile.
While it’s important to make your home feel like your own, it’s also important to keep in mind that potential buyers may not share your taste. If you’re planning on selling your home, it’s best to avoid making any major changes that would be difficult or expensive to reverse.
Instead, focus on those that will add value to your home including:
- Energy-efficient upgrades. Making your home more energy-efficient is a great way to save money on your utility bills and improve your home’s value. Some energy-efficient upgrades include adding insulation, replacing windows, and installing a new HVAC system.
- Functional updates. Making your home more functional can also add value. This could include things like updating the kitchen or bathroom, adding a new bedroom or bathroom, or converting a garage into a living space.
- Landscaping. A well-maintained yard can make a big difference in the curb appeal of your home. Consider adding new plants, trees, or shrubs, or updating your walkways and driveway.
If you’re thinking about making home improvements, it’s important to do your research and make sure that the changes you’re making will actually add value to your home. By avoiding the common money-wasting home improvements, you can make sure that your investment pays off in the long run.