There are some things you can purchase or install in your home that will help save you money over the long run. Planning ahead for these opportunities can give you the best perspective on what will save you money in the future — even if there is an upfront cost associated with making these investments.
Most home improvements are one-and-done changes that don’t provide additional future returns. For example, you may call a company to change out your worn out door locks, but don’t expect those new locks to save you money down the road.
On the other hand, certain investments can indeed have a significant impact on your wallet in the future. In fact, here are four money-saving home improvements that are well worth the effort:
Installing Ductless Air Conditioning
Ductless air conditioning may be an affordable and meaningful solution to help keep your home cool. It frequently involves much less installation work than a traditional air conditioner which requires a technician to come in and install ducts throughout the house. This can be a drain on your budget as well as frustrating to have people inside your home. However, ductless AC can typically be installed very easily.
Improving Home Insulation
Insulating your home and sealing doors and windows is a common advice to prepare your home for winter, but no matter when you take on these tasks they will always pay off in terms of your electric bill. Adding insulation in crucial areas of your home such as your attic, and getting a good seal on your doors and windows — or replacing them with more insulated versions — can help keep your house cool during the other seasons, thereby allowing you to maximize the benefits of ductless AC.
Replacing Inefficient Appliances
You’ll get the most bang for your home improvement buck if you upgrade any outdated and inefficient appliances in your home. The top energy suckers in your home are air conditioning, dehumidifiers, heating systems, refrigerators and hot water heaters. Other ways to maximize your long-term savings include installing a programmable thermostat and running your appliances at night.
Correcting Structural and Gutter-Based Problems
The most expensive home repairs are typically tied to water problems — so whether you live in a rainy area or are concerned about snow, it’s critical to stop the leaks and control water in and around your home. While just a little bit of clutter in the gutter doesn’t sound that risky, gutters are your first line of defense against cracked foundations, water problems in the basement, leaking roofs and wood destroying insects. Professional gutter cleaning typically costs a few hundred dollars, while repairing downspouts and gutters costs slightly more. On the other hand, if you need your foundation repaired, then expect to pay more than $4000. As such, it’s well worth making these investments now.
Do your research ahead of time to discover what’s going to make the most sense as an upfront investment that could pay off later. A few small changes can make your life easier while also reducing a significant hit to your wallet in the future.
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