12 Nov 5 Home Modifications that Will Save You Money in the Long Run
Are monthly utility bills giving you a headache? If yes, then consider incurring a one-off cost to make some modifications to your home that will save you money in the long run.
Set Up Ceiling Fans
During summer, many homeowners overuse their AC system to remain cool. While it’s terrific to have a house that is air-conditioned, it can be costly to keep the AC running the whole day. A fast fix, in the long run, is to install ceiling fans in the bedrooms, dining room, and living room. Ceiling fans result to a wind chill impact, letting you change the settings of the thermostat by 4-7 degrees and maintain comfort. This leads to cost savings of up to 30%. Ensure the motion of the fans is in the clockwise direction to produce a cool breeze. According to Home Matters, “Installing the right ceiling fan will not only help you reduce energy costs, it will also improve the overall comfort of the room and tie the design concept together with a unifying look.”
Install a Home Security System
Setting up a home security system should be the first thing to cross anyone’s mind when it comes to cost savings and home renovations. It can result in low insurance costs for the homeowner. The change can be up to 20% of the insurance cost. This will be an added advantage to the other home security benefits. The top benefit is that thieves look for home security before looting a home. Therefore, burglars will steer away from your home, saving you the cost of the property that could have been stolen in the absence of a home security system.
Set up Solar Panels
Setting up solar panels could be quite expensive, but the savings earned in the long run are worthwhile. Solar panels are becoming more mainstream, their ability to convert the sun’s energy to electricity has become more efficient, and their prices have dropped. According to EFS Energy, “Between the boost in property value afforded by adding or switching to solar and the savings on energy bills, you can get a return of more than 200 percent on what you pay for equipment and installation.” The payback period for solar panels is also getting shorter. Within seven and a half years, a homeowner will have earned back their full investment from an average solar system. The sooner you set up a solar system, the sooner you start seeing your average cost savings on your lower monthly electricity bills. Solar panels can save you a lot of money in the long run by lowering your electric bills to increasing your home value. You can save between $15,000 and $43,000 over the lifetime of the solar panel.
Smart home tech is a feature common in many homes since it has become mainstream. This technology offers convenience as it lets you to control and check in on your house remotely. According to LiveWire, “With automated technologies, you’re not just in control over the intelligence, safety and comfort of your home, you’re in the driver’s seat when it comes to your energy bills.” For instance, during winter you can turn on the heater at low temperatures an hour before you get home as opposed to turning it on at high temperatures just when you get back. The initial investment could be high, but the benefits, in the long run, are worthwhile. For instance, smart thermostats can save you up to $150 annually in utility bills after costing between $200 and $250; a payback period of one and a half years. Consider buying a smart sprinkler system, smart light bulbs, and smart thermostats. Installing smart home tech in your home is easy, increases the value of your house, and reduces the monthly cost of running your house.
Every room in a household uses water. Hence, the water bill is a significant part of your monthly costs. Simple changes to your pipes and faucets can reduce consumption of water and reduce the water bill. In the kitchen, consider minimizing the use of the dishwasher. As much as the dishwasher saves on time, it consumes a lot of water. For this reason, make sure the equipment is full before using it.
In the laundry room, buy a new hose for the washing machine. Indoor flooding is commonly caused by a burst washing machine hose. Each time you turn off the washing machine, it sends a shock or water hammer through the pipes. This makes the rubber hose weak and damages it over time. Avoid plumbing repairs and damage to property by upgrading to a new hose.
In the bathroom, use a low flow shower head. This measure could save water expenses by about $260/year, according to SF Gate. Also, consider updating your bathroom with a shower aerator for even bigger benefits.
Setting up solar panels, installing a home security system, setting up ceiling fans, home automation, and saving water are some of the modifications that can save you money as a homeowner while adding value to your house.
If you are looking to add solar panels to your roof, be sure to get your roof checked out. To prevent future issues from arising, get your roof patched and spruced up in preparation for your home improvement projects.