Money Matters

How to Save Money on Home Improvement Upgrades

Written by: Maggie Bloom

Owning a home is everyone’s dream and an important life event. If you have your own home, you’ll have the freedom to renovate it and redesign it the way you want, not to mention the fact that you’ll no longer have to worry about paying rent, save for the utility bills.

While it is costly to carry out large scale remodels and renovations, you can undertake simple improvements and upgrades that will save you cash in the long run.

Here are six ways to save money on home improvements and upgrades.

Install Solar Panels

Installing solar panels in your home is perhaps the most expensive home improvement project you can undertake. Though the cost of a single solar panel isn’t prohibitive, if you consider the number of solar panels needed to run all the electrical appliances in your home, this amount will shoot. But the good news is that once you install the solar panels, you’ll say bye to electricity bills.

Though the payback time of a solar panel can be up to seven years, you’ll see a reduction in your monthly electricity bills as soon as you complete it.

Consider Smart Technology

Have you ever heard of a smart home? Home automation may seem to be an expensive adventure, but it pays in the long run. With smart technology, you can check and control your home from wherever you are. It is even more important to control your monthly expenditure on utilities, water bills, electricity, cooling, and heating.

For example, if you install smart lights in your house, they’ll go on when you enter the room and go off immediately when you leave the room. This will ensure that you use light only when you need it. Installing smart security lights is also important to ensure your security lights go on when they detect any motion in your home.

Install Modern Security System in Your Home

Having a modern security system is something that may never cross your mind when carrying out a home improvement project to save money. However, a good security system will lower your home insurance charges by as high as 20%, not to mention the other benefits you’ll derive from the security system.

Remember, over 80% of burglars usually check the security systems before they break into a home. By installing a modern security system, you’ll save money and ensure your family is safe.

Save Water

As a homeowner, you’ll realize that a good proportion of your monthly expenditure will comprise a water bill. This is because water is used in almost all the rooms in your house. Cutting down on water usage can drastically reduce your monthly bills. You can do this by adjusting the pipes and faucets to lower the rate of water consumption.

In your kitchen, you can minimize the dishwasher’s use and ensure you fill it up completely before using it. If you are to buy a new dishwasher, choose the Energy Star qualified type. In your laundry room, you can install a new hose for your washing machine to reduce the amount you spend on plumbing repairs and to protect your property against water damage. In your bathroom, you can install a shower head with a low flow rate.

Install New Ceiling Fans & Updating Your A/C

During summer, when the temperatures are very high, many people adjust the AC to lower the temperatures. While cranking the AC makes the house feel amazing, it comes with high electricity bills. The best way around this is to install ceiling fans. You can also have a new A/C installation Utah County to reduce your electricity bills if you live in that area.

Pay in Cash

Paying everything in cash is a way of saving money that many people have not

realized. If you have a major home improvement, don’t take a loan for it. Loans

come with interests that will increase the cost of your home improvement. That’s

why it is advisable to pay for everything in cash. If you can’t manage the whole project at once, you can even break it down into

phases. You complete one phase then move to the next.

Wrapping it Up

Carrying out a complete home renovation is a stressful and expensive

affair. Plan well and ensure you have enough resources to complete the projects.

You can list your projects in order of priority, depending on your budget. Also,

ensure you only hire qualified contractors for your projects. Cutting corners can be

expensive in the long run.

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