| Sep 26, 2014
Everyone knows that buying a new house is expensive. From the home’s purchase and closing costs to the act of moving, you’ll be spending plenty of money as you prepare to relocate. These costs don’t disappear right away, either. Getting your new house up to comfortable standards could take months (or even years), with plenty of renovations happening along the way.
Fortunately, there are home investments that can save you money in the long run. If you’re limited in what home improvements you’re able to make, these ones tend to offer the highest annual savings and resale value. 1. New Windows and Doors
: Old windows and poorly sealed doors are one of the biggest contributors to losing heat and air conditioning. Not only will new, energy-efficient windows and doors look great, but they can save hundreds of dollars every year on your energy bill.
2. Air Conditioning/Heating/HVAC
: Replacing a furnace or having air ducts installed is a big investment, but they almost always end up paying for themselves. Efficient heating and cooling will keep you comfortable and make your home more energy compliant. (Programmable thermostats are considered one of the best ways to save money on heating/cooling.)
3. Security Systems
: Safety is always a good investment, which is why you might want to have a new security system installed. (You can also have floodlights put up or replace all the handles/locks in your home.) You can protect your belongings, lower your insurance, and increase your home’s value all at the same time.
4. Tankless Water Heaters
: Traditional water heaters are among some of the least efficient appliances out there. They take up space, must continually heat the water in the reservoir, and have limited amounts of hot water for you to use. If you need to upgrade anyway, consider a tankless water heater that heats water only as it is needed. 5. Bathrooms/Kitchens
: If you’re going for total home renovation, always start with the bathrooms or kitchen. These areas of the house offer the quickest way to increase your home’s value—especially if you go for high-end appliances and details. 6. Unhealthy Tree Removal
: That big, gorgeous oak tree in the front yard might be providing you with great shade, but if it’s not in peak health, it could end up being a drain on your home. Dead or dying trees can spread infection or cause limbs to crash into property below. Tree health should always be a part of your regular maintenance.
7. Good Home Insurance
: Many types of home insurance punish you for making claims. Others charge high prices with high deductibles and low customer service. Shop around and find a home insurance company you enjoy working with.
Not every home improvement you make has to improve your home’s value. A fresh coat of paint, new carpets, a porch swing you can enjoy as a family…these things might not pay off financially, but they can make you feel more at home right from the start. With the right combination of renovations for you and for your future finances, you can enjoy your house and make sure your money is being put to good use.