| Don't
believe that spending money can actually save you money? When it
comes to home improvement, investing in cost-effective upgrades can
actually save you a bundle in the long-run.
The average American household spends more than $1,600 a
year on utility bills, according to the Department of Energy.
With many homeowners facing escalating mortagage costs, it's more
important than ever to find ways to save on home-related costs.
Spending a few extra dollars now on certain home improvements can
save you money later.
Here are the five areas where a modest investment now could reward you with significant savings later on:
Lighting:
A simply way to save on electric bills is to replace
incadescent light builbs with compact fluorescent lights (CFLs)
Incandescent bulbs are major electricity consumers. It will
cost you 44 to $15 per bulb to replace incandescent lights with
CFLs, but you'll reap an energy cost savings of about $25 to $30 per
bulb over the life of the bulbs. CFLs also outlast incandescents,
meaning lower costs per year to replace burnt-out bulbs.
Windows and Doors:
In 2007, home heating costs rose nearly 10 percent,
according to the Energy Information Administration. Leaky windows
and doors are top contributors to high heating and cooling bills.
While replacing windows and doors can be an expensive
proposition, doing so can improve your home's energy efficiency as much
as 70 percent. That improved efficiency can save you thousands of
dollars.
Heating and Cooling Systems
First, if you don't already have one, install a
programmable thermostat that allows you to automatically reduce heating
and cooling during those times of day when you need it less.
Next, if your heating, ventilation and air conditioning is more
than 10 years old, consider replacing it with newer, more energy
efficient equipment. Look for an Energy Star rated unit; it can save
you up to 20 percent on heating and cooling costs, according to the
government-sponsored Energy Star Program. |
Insulation:
Another easy fix that will require you to spend a little - but
not necessarily a lot - is to upgrade insulation. As much as 80
percent of houses 28 years old or older are not insulated to government
standards. If the insulation in your attic is less than 15.5
inches deep, it's not enough. Installing more insulation is
something you can easily do yourself.
Homeowner's Insurance:
Finally, after you've made all these energy-efficient improvements - or
any other major home improvements for that matter - you'll want to
evaluate the cost-efficiency of your homeowner's insurance.
Changes in the structure and equipment in your home can affect
the coverage and cost of your homeowner's insurance. Comparison
shopping can yield significant savings - between 15 to 25 percent
on your annual premium, according to the Insurance Information
Institute.
The easiest way to comparison shop is to go online to a site like
www.InsWeb.com . You'll need to complete a detailed quote form,
but at the end of the process you'll receive multiple quotes from
agents in your area, as well as major insurance carriers - usually
within 24 hours of completing the quote form.
To learn more about energy-efficeint home improvements, visit www.energystar.gov. |
