The idea of a “home improvement project” can often sound daunting. Things like remodeling the kitchen, adding a bathroom, and installing a new roof often come to mind.
However, if you’re interested in money-saving upgrades that don’t require investing a ton of money upfront, there are still plenty of options available.
Replace Appliances
Before you start tearing off shingles or swapping out countertops, you should take an inventory of your current appliances. This includes everything from humidifiers and air purifiers to your fridge, washer, and dryer.
If any of your appliances are old or inefficient, it may make sense to replace them. This is an easy activity, and when it comes to the larger appliances, many companies will lug off your older unit for a small fee or even for free as part of a new purchase.
Most modern appliances are infinitely more efficient than their forebears. Front-loading washers use less water. Newer fridges operate with less electricity. Gas stoves require less fuel than electric models. By replacing your appliances with more efficient alternatives you can save money in multiple ways.
Upgrade Light Bulbs
Lighting is another fast and simple way to improve your home’s financial efficiency. Traditional incandescent light bulbs are extremely expensive to run. Swapping them out for LED alternatives only requires a minimal upfront investment and can save you a lot of money when given enough time.
How significant are the savings in question? Estimates vary but consider comparing a single 60-watt incandescent light bulb and an equally bright LED alternative as an example. In this case, the cost of an LED bulb is typically five times that of a traditional model. This can often make it tempting to opt for the cheaper bulb as you attempt to save money.
However, if you spend $5 on the LED option instead of $1 on a traditional bulb, the former will last more than twenty times the lifespan of an incandescent bulb. To put it another way, throughout that impressive lifespan, an LED bulb will only cost just over $20 to keep lit. In comparison, it would cost you upwards of $150 to keep incandescent bulbs lit for the same amount of time — and that’s just referring to the electricity and not the cost of replacing bulbs due to their shorter lifespan.
Simply put, replacing your light bulbs now can save you a small fortune over the next five to ten years.
Install a New Thermostat
Heating and cooling a house is an expensive activity. As such, it’s a prime area to improve if you’re looking for money-saving upgrades.
One of the quickest ways to reduce the cost of running an HVAC system is to upgrade your thermostat. Modern thermostats can be programmed to change at certain times of the day. For instance, in the summer, you can raise the temperature of your home when you’re gone at work.
If you want to get serious about your thermostat, you can also get a smart model. These hook into your WiFi and give you control over your home’s environment from your smartphone. Some of the more advanced models even learn to adjust the temperature based on your activities.
Get New Water Fixtures
Updating the bathroom isn’t just a way to add value to your home. It can also save you money while you live there by reducing your water consumption.
Showerheads and sink faucets can use copious quantities of H2O and toilets can send multiple gallons of water down your pipes in a few seconds. Consider replacing your current water fixtures with low-flow alternatives. You can even do the same in the kitchen and laundry room, while you’re at it.
Additionally, look for a low-flush toilet. These can dispose of your waste with a fraction of the liquid of older models. As an added bonus, using less water throughout your home will also make your dwelling more sustainable, as well.
Seal Up Drafts
Another quick and easy, money-saving upgrade is sealing updrafts. Windows and doors tend to get leaky over time. When they do, they can let in a steady stream of either cold or hot air depending on the time of year and the area where you live.
You can address this issue by getting weatherstripping for the doors and caulking around your windows. Both of these are cheap, easy DIY activities. If you find that some of your windows are particularly old and drafty, you may want to invest a little more money in replacing them entirely to freshen up your home.
Secure Your Belongings
Security may not come to mind when you’re thinking of saving money. However, if you’re willing to invest in long-term savings, a secure home is a natural way to save money.
One of the best ways to do this is to invest in a smart home. While some privacy concerns should be addressed before doing so, a smart home does provide a uniquely powerful form of security for your living space. This includes:
- Security from theft: Home invasions can easily be deterred with a smart home security system.
- Physical safety: Smart alarms can be found to help guard against things like fires, floods, and gas leaks.
- Digital security: Cybersecurity is important to address, too, as it can keep your identity safe and your personal information and online bank accounts secure.
There are many considerations when trying to save money through home upgrades. Investing in a smart home should be high on the list.
Easy Home Upgrades that Save You Money
Home improvement projects don’t have to be massive investments that upend your life and require professional help. There are numerous small ways that you can quickly and easily improve your home and finances at the same time.
So review the list above and consider any areas where you can invest in future savings. Do you need more efficient appliances? Can you install low-flow water fixtures? Are your current belongings secure?
Investing in your home now isn’t just a way to get more money when you sell it. It’s also a great way to create significant financial savings while you’re living there, too.
