When people think about investments, they usually think of a couple of commonplace options such as a retirement fund, maybe some stocks of purchasing some real estate somewhere sunny. Very rarely do they consider improvements on their existing home as investments. Considering how much these improvements can do to increase the value of one’s home and how good the ROI can be, it is wonder more people do not do it.
One of the ways to go is with green home improvements, i.e. those that make your home more environmentally friendly.
The first and the most important reason why you will want to go green with your home improvements is that the value of the home is increased due to these improvements. For example, it is estimated that installing a solar system increases the value of one’s home by $3 per watt of energy that can be produced by the system. The same goes for various other green improvements that you can invest in, such as new windows and doors or improved insulation.
What are the Options?
The good news is that there are almost innumerable green home improvements to choose from. What this means is that depending on your particular situation, you will still be able to find the improvement that will fit your budget and your needs.
One of the options are the so-called tankless water heaters. Instead of heating and keeping a certain amount of water hot at all times, these heaters only heat the water you are using. This not only saves on electricity, but also does great things to reduce your water consumption.
A programmable thermostat is another fantastic investment which is not that huge, especially when you consider the savings you make. This type of thermostat enables you to better control your A/C system, thus dramatically reducing the amount of electricity you waste on keeping your home at the perfect temperature.
While we are on the subject of reducing the amount of electricity you spend on air-conditioning, we should also mention ceiling fans. They might seem a bit old-school or even outdated, but in reality, they are a fantastic way to keep a room cold while spending only a fraction of the electricity that an A/C system uses. In the Mediterranean, you will discover that a vast majority of homes still feature fans instead of costly A/C systems.
Of course, there is also the option of installing an entire solar system which will provide your home with cleaner energy that will also be cheaper than using the more traditional electricity sources available in your area. With a comprehensive solar energy system, you can pretty much stop paying your electricity bills and perhaps even start selling the electricity to the local government.
Are Green Improvements Costly?
For the most part, green home improvements are not that expensive. For example, a programmable thermostat will cost you under $200 a year. A tankless water heater will cost under $2,000 and the savings you will make in both electricity and water will be huge.
Solar systems and similar, more comprehensive solutions can be somewhat expensive. Luckily, there are now new financing options that will make the initial investment much more manageable. With PACE, for example, you do not pay upfront for your green home improvements and instead, you pay them off over time, while still reaping the benefits immediately. You can find more about PACE financing at this link.
There is something very important that we should not forget about here. All of these green home improvements will also do great things for the environment. So, besides being a prudent investment option, these improvements will also help conserve the planet.