Like most people, you may not view your home as an investment, but it certainly is an investment. It provides you with valuable tax shelters and also can provide you with shelter when you retire. In some instances, you can even use the equity of your house to pay down debt, take a trip or invest in other higher paying investments. . So, if you’re wondering how you can turn your investment into a cash cow, we can help.
In this article, we will teach you how to increase your home’s value while decreasing your home’s cost. We will provide you with 5 things you can do right now to stop money drains and turn on the home ownership faucet. Are you ready? Let’s get started.
Get free professional advice
The best way to increase your home’s value is to spend an hour or two with an energy conservation expert. Although you could hire someone to assist you, most local utility companies provide existing customers with free assessments. During your meeting, a trained professional will come to your house and provide you with valuable energy conservation ideas.
For instance, your expert may recommend that you purchase more efficient appliances, install energy efficient light bulbs, turn off your high energy draining cable box when not in use, limit usage of your heating/AC unit during peak periods, alleviate drafts by installing storm doors or windows, or other tips. Whatever suggestions they make, write them down so that you can reference them later on.
Implement your energy saving plan
Once you have a list of written suggestions, you must develop a plan that encompasses those energy-saving ideas. For instance, if you’re working with a home improvement budget of 1000 or more, you may want to upgrade your standard water heater with a tankless one. Not only will this provide you with heated water only when you need it but the new models are extremely cost-effectively and eco-friendly as well. On the other hand, if you’re working with a smaller budget of $250 or less, you may want to paint your house, add ceiling fans, replace leaky faucets or switch to cost effective light bulbs or purchase timers for appliances.
Fix your home’s visual appeal
Once you have made some minor improvements, it is now time to work on the outside of your home. Not only will this increase your home’s overall value but it can decrease your home bills as well. For instance, if you always have to entertain guests inside because the outside of your house looks awful, an improvement to the outside can work wonders. Not only will it enable you to entertain outside but will save you a tremendous amount of money on air conditioning in the summer.
Some great landscaping tips are trimming bushes, cutting your hedges, filling in patchy lawns with new grass seeds, and planting shade trees. Not only will this give your house more curb appeal but it will also increase your home value. In addition to that, consulting with someone about getting new energy efficient windows might also be a good option as well.
Turn off the air conditioner
Whenever possible turn off your air conditioner and use fans instead. Whole house fans are a great way to draw in cool air. Plus, they use only a fraction of the electricity as central air or air conditioners. If you absolutely can’t go without your air conditioner, you can use it at the highest possibly setting or use a timer to make sure that it doesn’t run when no one is home.
Be conscious of your energy costs
Although your home is indeed your castle, you should always be aware of your energy costs. Evaluate your bills and every six months or so, do an energy evaluation. Really figure out what improvements you can make to lower costs and then do them. For instance, if you find that your light bills are too high, make a conscious effort to turn off lights when you are not in the room or to use natural light as much as possible.
In conclusion, your home is your safe haven and is an investment in your future. By making a conscious effort to improve its value while decreasing your energy costs, you are ultimately protecting your investment now. By obtaining professional advice from an energy conservationist, implementing your energy saving plan, fixing your home’s visual appeal, turning off your air, being aware of your energy costs and making improvements, you will save a lot of money.