While we all would like to add value to our home – which is typically the largest investment we will make – we also recognize that adding value to our home means investing money in it. After all, the more we put into our home, in the form of updates, improvements, and home repairs, the more we get out, right? Well not always. There are a few home updates you can do that will increase your home’s value, and save you money at the same time.
Here are just three ways to save money and add value to your home:
Solar roofing. You know what you spend on your energy bill every month, and if you’ve thought about it, you also know that that money goes nowhere – except in the pockets of some rather large utility companies. But what if you could send that money into your pocket instead? Sound impossible? Actually it’s not. But it all starts when you stop renting your power, and start owning it. How do you do that? Well, when you install a solar roofing system, and start producing your own power, you buy a lot less from the power company. How much less? About $90 per month. So, that’s $90 that goes in your pocket, not the energy company’s pocket. And, better yet, for every $1000 you save annually on energy bills, your home’s value increases by $20,000.
Solar Hot Water Heater. Looking at a typical home’s energy consumption, roughly 30 percent is devoted to producing hot water. And this number can be even higher if you run your dishwasher more than once per day, do more than one load of laundry, or take an extra shower or hot bath during the day. So how do you cut down on that expense? One way is by installing a solar hot water heater. How much can you save monthly? About $60 per month. So again, like with a solar roofing system, that’s $60 every month that’s going to you, not the energy company. And let’s say that solar hot water heater saves you roughly between $720 annually. That’s about $15,000 in added home value.
Solar attic fan. You probably don’t think about your attic much, but did you know, when your attic collects moisture, it can affect your energy bill. Why? Because extra attic moisture makes your air conditioner work overtime. And attic moisture is also a major source of mold, and potential damage to your roof. Why? When water seeps through your home’s attic to your roof’s underlayment, it can cause a roof leak. But when you install an attic fan, you can reduce the load on your air conditioner by as much as 20 percent. And given that your air conditioner accounts for roughly 40-45 percent of your energy bill, the total energy savings cost can be close to 10 percent. Given a typical energy bill, this can be anywhere from $15-20 per month and $180-$240 per year. So how does much value does that add to your home? About $5000, and even more if it prevents mold and roof damage.
Investing in your home in ways that add value is always a good idea, but an even better idea when those investments show up as savings on your monthly bill.
This article is brought to you by ASAP Roofing, a national roofing company that specializes in roofing restoration, hail damage, and weatherization. ASAP has offices in Dallas, Denver, and Indianapolis.