If you’re selling your home, you want to make visible improvements that offer immediate payback. But if you’re staying in your home, it makes more sense to increase your comfort and cut your living costs.
You may first want to make cosmetic improvements that turn your house into a “home.” Then move on to larger “invisible” improvements – such as insulation and a new heating system – that will save you money now and over time. If you do eventually sell, it could be that a cost-effective home is just what catches a buyer’s eye.
One of the best ways to reduce your house costs is to make improvements that increase your home’s energy efficiency. Air leaks, inadequate insulation, or inefficient appliances may be costing you more than you know in high utility bills. Some types of improvements:
Additional insulation. State and local codes can tell you how much is recommended for your climate area. Does insulation in your attic, ceilings, walls, floors, crawl space, and basement meet the codes? If not, improving this insulation could reduce your heating and cooling bills by up to 33%.
Weatherproofing. Caulk, seal, and weather-strip windows, doors, vents, floors, walls, ceiling, and any other openings to the outside. Ducts, plumbing penetrations, and electric outlets alone account for 30% of air leakage. Proper caulking can save up to 10% on your energy bill.
Energy-efficient windows. Choose the most energy-efficient windows for your climate. For cold climates, look for double-pane windows that are filled with gas and “low-emissivity coatings.” In sunnier regions, consider “solar control spectrally selective” windows. You should be able to recoup 68% of the window replacement cost if you ever sell – and even more in Eastern states.
Energy-efficient appliances. Refrigerators and clothes dryers are notorious energy guzzlers. Add furnaces, heat pumps, and other appliances that are in frequent use, and you’re typically talking about 20% of your household’s total energy usage. Consider replacing old chuggers with up-to-date energy-efficient appliances. You can save even more by switching your lighting from incandescent to fluorescent bulbs.
Strategic landscaping. Planting just three deciduous trees (trees that shed their leaves) in the right places can save homeowners a couple hundred dollars annually. Such strategically placed trees shade the house in summer, and block wind – but not sun – in winter. Adding structures such as fences and porches is another means of blocking wind.
Improvements that tend to return their value at the time of sale include those that:
Add visible curb appeal (such as a fresh paint job)
Add more functional space (such as an attic conversion or an extra bathroom)
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