For most homeowners, their homes were the single purchase they spent the most on in their lives. Investing in renovations is also the single most effective way to raise the value of your home. Read about the renovations that will increase your home value the most.
Install Energy-Efficient Windows
Installing new, energy-efficient windows in place of your old ones can save you up to $450 a year in cooling and heating costs according to the U.S. government’s Energy Star program. What is more, new windows can work aesthetic miracles. They eliminate pesky drafts that can put potential tenants or buyers off if you decide to rent or sell your home.
To save even more on energy costs, seal cracks around the home. During winter, it’s easy to find leaks. You’re in an area with air leaks anytime you feel a chill or draft.
Buy a thermal leak detector – it will indicate temperature differences around the home. These devices cost under $50. Then, you can add insulation or caulk as needed.
People frequently discover leaks around doors and windows, in recessed lighting, in the basement, around the attic hatch, around light switches and electrical sockets, and anywhere wires or ducts go outside the house.
Change your Lighting System
Having CFL light bulbs installed in all light fixtures is a low-cost renovation that will drive your home’s value up. These lighting systems use 75% less energy than regular ones. Over its life cycle, each one saves $40 in energy on average. As these light bulbs emit much less heat, you will also save on cooling costs. By counting how many lights there are around the house, you can estimate how much you can save easily.
If your home is on the small side, installing bright lights will add the illusion of size. This will increase the value for you or your tenants if you decide to rent the property out. Special, customized home lighting systems are available – and affordably priced – at Neon Signs Depot.
Have Hardwood Flooring Installed
While these floors cost more to install than carpeting wall-to-wall, they will save you money in the long run. They also look much better than carpet and are easier to clean. According to home repair site Homewyse’s calculator, it can cost up to $10,000 to install a mid-range oak floor on a 1000-square-foot property. This is twice as much as the cost of wall-to-wall carpet on the same-size space. However, hardwood floors are more than twice as durable as even the highest-quality carpeting. A hardwood floor might need replacing in 30 years, while carpets only last about 10.
If you already have a hardwood floor, vacuum and sweep it regularly to extend its life cycle maximally. It needs protective coating reapplied every four to five years and refinishing every few decades.
Replace your Siding
Even the most beautiful house will look old and worn with decrepit siding. Siding is something many homeowners tend to overlook. You can expect to pay around $16,000 to replace 1,300 square feet of old siding, including the factory trim at the corners and openings. The good news is that upon resale, you’ll get full returns on the investment.
Insulate with Fiber Glass
According to the U.S. government’s Energy Star program, 90% of all houses in the country have insufficient insulation. If yours was built before 1980 or you’re always paying more for heating than your neighbors, it’s probably in that 90%.
How can you find out? Experts with the Environmental Protection Agency suggest checking the attic for at least eight inches of cellulose insulation or 11 inches of fiberglass insulation. If the insulation is dirty, it’s probably nearing the end of its life cycle.
Remedying the issue can help you reduce your heating bills by as much as 10%. This is a big advantage in colder locations where heating oil costs are high.
The modest cost of fiber glass insulation is more good news. According to a 2017 estimate from Remodeling magazine, a building industry sector publication, it costs just under $1,400 to have such insulation professionally installed. Monthly savings will be quite impressive. This should motivate you as shopping for something like insulation isn’t the most exciting of things for the vast majority of homeowners.
Replace Old Appliances
Replace at least one old appliance with a new, energy-efficient model. Appliances with an Energy Star rating use less energy and will help you save money. What is more, they are environmentally friendly.
Upgrade the Kitchen
On a final note, upgrades to the kitchen never fail to pay off. According to HGTV data, you can expect to recover an average of 90% of your investment on a kitchen renovation unless you go for an overly costly one. The kitchen may be the heart of the home, but it shouldn’t be its most luxurious space.
Author bio: Lara Douglas is a young woman who loves interior designing and home decor. She is passionate about new trends and fashion forward home décor ideas. She regularly posts at Neon Signs Depot.