Home Improvements That Can Help You Save Money
1.23.2023 | Category: Article
Maintaining your home can be a significant investment of time and money, but it can be worth it in the long run. It can help you save money on repairs and utilities, increase the value of your home, and provide a safe and comfortable living environment for you and your family.
Regular maintenance can help you as a homeowner identify and fix potential safety hazards such as leaks and electrical issues, prolong the life of your home's systems and appliances, and improve energy efficiency.
Additionally, a well-maintained home is more attractive to potential buyers if you decide to sell in the future. Preventive maintenance can help identify issues before they become serious problems. In short, maintaining your home is a significant investment of time and money, but it can be worth it in the long run.
There are several home improvements that can help you save money over time. If you’re looking for a place to begin, here are some examples to get you started.
Water-saving fixtures: Upgrading to low-flow showerheads, faucets, and toilets can help you save money on your water bills over time. These are generally low-cost improvements that can even earn you rebates or discounts through your water utility agency or provider.
Landscaping: Incorporating drought-tolerant plants and installing a drip irrigation system in your landscaping can help you save time and money on your water bills. Additionally, native plants often adapt better to weather changes, helping you avoid the need to replace seasonal garden flowers and plants.
Energy-efficient upgrades: Installing energy-efficient appliances, such as Energy Star-rated windows, appliances, and heating and cooling systems, can help you save money on energy bills over time. In addition, many energy-efficient appliances can be eligible for tax credits and rebates, which can help offset the cost of the appliance.
Insulation: Adding or replacing insulation to your attic and walls can help keep your home more comfortable and reduce your energy costs. The frequency at which a homeowner should replace the insulation in their home can vary depending on several factors, such as the type of insulation, the location of the home, and the age of the insulation. Older homes may have insulation that is no longer effective, so if you live in an older home, it's worth having an energy audit done to see if you need to replace or add insulation.
Smart home technology: Installing smart home devices such as thermostats, lighting, and security systems can help you monitor and control your energy usage, resulting in savings on your energy bills over time.
Upgrading your roofing: A new roof can increase the energy efficiency of your home, protect your home from the elements, and increase your home's curb appeal. While an expensive investment upfront, replacing or staying on top of your roof maintenance upfront can help you avoid emergency repairs or water damage in the event of a major leak or damage.
Solar panels: Installing solar panels can help you generate your own electricity and reduce your dependence on the grid. This can lead to significant savings on your energy bills over time. While solar panels can be a costly upgrade, many solar companies offer financing options and home lenders often allow homebuyers to finance home improvements as a home equity loan or Home Equity Line of Credit (HELOC).
Preventive maintenance can help identify issues before they become serious problems, thus saving you time and money in the long run. While some of these upgrades may seem like serious purchases, over time, the savings on energy and water bills can help offset the cost. Additionally, some upgrades can increase the value of your home and can make it more attractive to potential buyers if you decide to sell in the future.
In short, maintaining your home is a significant investment of time and money, but it can be worth it in the long run. If you’re looking to make home improvements ahead of selling your home, be sure to consult a licensed professional before starting any major projects, as they can help you evaluate the costs and benefits and determine which improvements will be most cost-effective for your home.
Then, consider contacting a Mutual of Omaha loan officer or visit Mutual of Omaha Mortgage's full list of purchase loan offerings to get started today and learn if your new home is closer within reach than you think.