7 Great High-ROI Energy-Efficient Home Improvements
A home is usually the most valuable asset in an investor's portfolio. After overcoming the challenge of getting a mortgage, homeowners can profit from their payment by increasing the home's overall value. To do this, homeowners should make upgrades that will see a strong return on investment (ROI) and increase capital gains. These days, most people want to be more energy-efficient and pursue a greener way of life, but these initiatives can be costly. However, some energy-efficient upgrades pay off in the long run. Read on to learn about seven energy-efficient home improvements that promise a strong ROI.
Replace Wasteful Appliances with ENERGY STAR-Certified Appliances
Older appliances weren't built with energy efficiency in mind. As a result, they are a huge draw on electricity and water resources. Consider replacing old appliances with ENERGY STAR-certified appliances. High-ROI upgrades include dishwashers, refrigerators, standalone freezers, clothes washers, and dryers. Before purchase, look for the ENERGY STAR sticker and read the details. These stickers offer a lot of information about energy savings.
Make the Switch to Smart Thermostats
When people think of thermostats, many envision the circular dial versions found in older homes. At this point, they are antiquated. Adding a programmable thermostat is an immediate upgrade that is relatively inexpensive, and a return can be realized quickly. Due to their popularity, these thermostats are now low in cost, and homeowners can have more control over their heating and cooling by programming times to turn on and off. No more coming home to an uncomfortable temperature or wasting resources to keep rooms comfortable when no one's home. Homeowners who want to kick it up another notch should consider a smart thermostat. Smart thermostats learn an occupant's lifestyle and run more efficiently. Owners can also control smart thermostats via a smartphone app, making them even more convenient.
Energy-Efficient Windows Increase Insulation
Drafty windows can let up to 30% of a home's heat or air conditioning out. Over time, this can equate to high losses and wasted energy. To rectify this issue, consider replacing drafty old windows with modern airtight and multi-pane versions. The cost of escaped heat will only increase as national energy costs increase. The one-time cost of new windows can help save money for many years to come. Additionally, energy-efficient windows are a feature buyers seek, and, as such, sellers find they yield a decent ROI.
Enjoy Style and Function with a New Steel Door
Steel doors are a great investment for several reasons. Some studies suggest that they can have above a 100% return on investment, meaning the homeowner receives a profit on their initial payment. The benefit from a steel door upgrade can be realized almost immediately. They add a great aesthetic and are better insulated. The result is higher energy efficiency and less heating and cooling waste since these doors are air-tight and prevent drafts. Pair that with the increased curb appeal when selling a home, and this energy-efficient upgrade is a no-brainer.
Limit Energy Waste with a Solar or Tankless Water Heater
Traditional water heaters are notorious for drawing significant amounts of energy. Today, homeowners have the option of installing solar or tankless water heaters. Replacing an inefficient water heater with an efficient one can decrease annual energy costs. Currently, the IRS is offering tax credits for certain home improvement upgrades. Always check to see if a new water heater meets the criteria to earn additional savings.
Why You Should Update Original Insulation and Sealants
Insulation is one of those upgrades most homeowners don't consider because houses are typically insulated when they were built. While this is true, one thing often overlooked is that newer insulation types perform better and are made of sustainable materials, making them more energy-efficient and greener. It's definitely worth the investment to seal up any gaps and cracks with new insulation and sealant. Areas often needing an insulation or sealant boost include windows, doors, crawl spaces, attics, ceilings, basement areas, and underneath stairways.
Illuminate Savings with LED Lighting
LED lighting is one of the most energy-efficient lighting options. Bulbs are long-lasting, durable, and offer great light quality. LED lights used in homes, especially those that are ENERGY STAR-certified, use 75% less energy and last 25 times longer than traditional incandescent lighting, according to the U.S. Department of Energy. It's easy to see how changing out bulbs or swapping out light fixtures could be an attractive feature in a home and increase ROI.
Real estate agents consistently report that homebuyers are more willing to pay extra money for energy-efficient homes with green features. Consider making one or more of these improvements today to enjoy the added comfort, consistent savings, and increased property value.