3 Big Remodels To Help You Save In The Long Run

A big remodeling project may force you to spend a lot of money right now, but it can also help you save money over time. As long as you can afford to pay for the remodel without using a loan or credit card, you could start seeing a return on your investment within a few months. If you want to invest in a remodel that will give you a lifetime of financial benefits, try one of these three projects.

Install Solar Panels

big remodels to save you in the long runImage via Flickr by Marufish

Installing solar panels on your roof will require a major investment, but you can often save money over several years because you don’t have to buy as much energy from your electricity provider. How long it takes for you to start saving money primarily depends on where you live.

If you live in a sunny area with long days, then you may find that solar panels generate all of the electricity that you need. Your city’s price of electricity, climate, and other factors can also affect whether it makes sense for you to spend money on solar panels. The good news is that most Americans live in areas where they will make their money back within a couple of decades.

Get an Energy-Efficient Furnace

Depending on the size of your home, a new furnace could cost anywhere from a few hundred to a few thousand dollars. The best models tend to cost more, but they can also lower your energy bills. You also get to live in a more comfortable home that doesn’t have hot or cold spots.

Spending extra money on an efficient furnace only makes sense when you take care of the appliance. Furnaces need annual maintenance that seals air leaks, removes dirt, and replaces worn parts. Hiring a professional to maintain your furnace helps ensure that you save money by extending the appliance’s life and improving its efficiency.

Replace Old Windows

Old windows don’t have the insulating power of newer models. Today’s high-efficiency windows use a variety of features to keep your indoor temperature constant. Many high-efficiency windows, for instance, use spacers that prevent condensation and heat loss. They may also use argon or krypton gas to slow the transfer of heat.

Buying and installing new windows will cost quite a bit of money, especially when you choose models with good insulation. If you have a 2,450-square-foot home, then you can expect to spend about $15,000 on new windows.

Installing new windows in your home should lower your monthly energy bills. New windows can also add value to your house.

If you’re not prepared to spend thousands of dollars on new windows, consider using glazing and low-emissivity coatings to your current windows. These jobs won’t help you save as much in the long run, but they don’t require a hefty investment.

Don’t start a big remodel until you have thought carefully about whether you have the time and money to complete the project. Once you’re ready, choose one of these projects so you can save money over time.

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