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Add Value To Your Home With Energy Efficient Upgrades

Colorado / Investment / Techology

6 Ways To Make Your Home More Efficient While Adding Value!

Feeling like you spend too much money each month on your heat or electric? Your home probably isn’t as energy efficient as it should be! Luckily, though, there are several upgrades you can do that will not only increase efficiency, but also the value of your home! Doing the upgrades below now can help you sell your home for more later!

Efficient Spray Foam1.   Insulate Your Attic – While not something many buyers even think about, an insulated attic can significantly reduce heating costs in a home! An uninsulated attic allows heat to escape quickly as it rises, meaning your heating system will have to work harder to keep living areas warm. By insulating your attic, you significantly reduce the amount of heat loss that occurs. This means your heating system won’t have to work constantly to keep your home warm! Spray foam insulation can cost anywhere from $1000 to $3000 for professional installation. There are DIY kits available for less though, so that is something to consider if you are a handy homeowner! This upgrade is something most buyers won’t notice, so be sure to let them know the benefits of a well-insulated attic!

Efficient Windows

 

2.   Upgrade Windows – Windows are something most homeowners don’t think about replacing until they are broken or leaking. High quality double-pane windows can actually make a huge difference on your heating bill! Energy Star rated windows have been proven to reduce heating costs by up to 15%. This is because properly insulated windows help to trap heat in the home, in the same way that an insulated attic helps to trap heat.  That is a huge jump caused by simply replacing windows! Many homeowners are making Energy Star windows a requirement in their home search, so this is a great choice to increase value and interest in your home! The average cost to upgrade to these windows ranges from $250-800 per window, depending on size and installer costs. This isn’t the cheapest upgrade option, but we think it is worth a look as it is estimated to raise home value by around $9500!

Efficient Garage Door

3.   Replace The Garage Door – If your garage is attached to your home, and doesn’t already have one, you may want to consider installing an insulated garage door. If your garage door is uninsulated, it may be leaking cold air into the garage, and ultimately into your living space. This isn’t great for efficiency purposes! If you install a properly sealing insulated garage door, you may see up to a 15% decrease in your heating bill! Installing an insulated door will cost around $3695 on average, but you can expect to recover almost all of that cost when selling your home, making a new garage door almost free! If you already have a garage door that you love, there are DIY Insulation Kits available to insulate an existing door.

Efficient Appliances

4.   Replace Outdated Appliances –  One of the easiest upgrades a homeowner can do to increase value and efficiency in their home is to replace old appliances with updated, more efficient models. New kitchen appliances consume up to 40% less energy compared to 10 year old appliances! The kitchen is one of the most important rooms to prospective buyers, so it is worth taking a look at possible upgrades. Home Improvement stores such as Lowes and Home Depot offer matching appliance packages for as little as $2500, which is not a bad investment to spruce up one of the most used rooms in a home! Keep in mind that 75% of prospective home buyers prefer stainless steel appliances to all other finishes.

Efficient Doors

5.   Add Weather-Stripping To Doors – You may have read about door weather-stripping in our Sound-Proof Your Home blog post, but you may not know how many uses this cheap upgrade has! In addition to cutting down on the amount of sound entering your home, weather-stripping can actually cut your energy bill down too! By adding weather-stripping around the doors in your home, you create a seal between the door and it’s frame, making it much more difficult for cold air to enter your living space. While there is no information as to how much value this upgrade adds, for only $20-30 it is worth doing to eliminate drafts in your home!

Efficient Solar Systems

6.    Install Solar Panels – Solar panels, while more of an addition than an upgrade, can have a very significant impact on your energy bills as well as the value of your home! While not always the best addition to increase value, solar panels can be a big selling point in an area like Pagosa Springs where this form of supplemental energy is common. With the proper setup, solar panels can produce most, if not all, of the electricity needed for day to day living! While this may sound amazing, you do have to consider the initial cost and upkeep costs of solar energy. The average cost for a full residential solar system is anywhere between $15,000 to $25,000. This may seem very costly, but the cost of solar has actually fallen nearly 70% since 2010! Solar is a great way to get into efficient energy and self sufficiency, but may not be the best way to add value to your home. We recommend reaching out to a realtor regarding solar in your area to see what your return on investment might be.

 

These are just some of the ways you can make your home more energy efficient while also adding value to your investment! If you know of any other smart ways to add value to your home, let us know! If you are reading this in preparation for selling your home, we would love to talk to you about the selling process and all of the ways we can market your property! Don’t forget to like us on Facebook to stay updated on what’s happening with NextHome Rocky Mountain Realty and Rentals. Thanks for reading!

 

 

 

 

Renovations – Return On Investment

General / Investment / Market Trends / Real Estate

Renovations With The Highest Return On Investment

Whether you are trying to sell your home or not, paying attention to the renovations you do and how they affect your home’s value can be important. Some home improvement projects can yield a much higher return on investment than others.  We’ve compiled a list below of the best renovations you can do for your money. Enjoy!

Return On Investment
Photo Courtesy: mountainvillageestespark.com
  1. Minor Bathroom Remodel – There are two rooms that sell homes more than any others; the kitchen, and the bathrooms. Bathroom remodels actually provide the highest return on investment, averaging 102%. You don’t need to fully gut the room however, adding a good coat of paint and new fixtures is a great way to elevate the value of your home.
  2. Landscaping – Curb appeal is a very important aspect when listing a home. Fresh landscaping and a picked up exterior can make your home appear fresh and clean, which buyers want. Basic landscaping averages a 100% return on interest, even adding a few potted plants to your front porch can make a huge difference!
  3. Minor Kitchen Remodel – A minor kitchen remodel can really bump your home’s value up without much work. Start by upgrading outdated appliances with newer ones; prospective buyers will notice these additions. Painting or staining your existing cabinets can substantially increase your kitchens appeal. Modern hardware on all of your drawers and doors will help a lot too!
  4. Attic Bedroom Conversion – One of the best ways to increase the value of a home is by adding to the number of rooms it has. If you have an attic that can be converted to a bedroom, and you have the budget to do so, this addition can add a lot of value to your home while also adding to it’s usability! While not necessary, this is an option everyone should consider. The average return on investment for an addition like this is about 93.5%.
  5. Entry Door Replacement – While it may seem simple, replacing your front entry door is one of the most impactful renovations you can do to your home. If your home’s style can support it, a door painted a bright, primary color can really draw prospective buyers into a home. It makes the home more approachable and inviting! Even a fresh coat of paint can make a huge difference.
  6. Deck Addition – If you have the room to do so, adding a deck or porch is a great way to add perceived value to your property. If you already have a deck, make sure it has been painted or stained and is structurally sound. A deck increases usable living space and can be a deciding factor for some buyers! Outdoor living spaces have become especially desirable since the covid-19 pandemic.
  7. Basement Remodel – Although not all homes have a basement, the ones that do can sell for significantly more than homes that don’t! Converting your dark and dingy basement into a usable living space can bring your home value up quite a bit. Return on investment for this renovation sits around 90% on average and can draw in prospective buyers!
  8. Window Upgrade – Fresh, new windows can have a huge impact on the exterior image of your home! They will make the outside look newer and the interior brighter! In addition to the added curb appeal, new windows are typically more efficient and you may be eligible for a tax break when purchasing energy efficient windows. Although many may not notice, new windows will slide more easily too!

These are some of the best renovations you can do to add value to your home before selling! If you have any questions, or would like to talk with one of our brokers, give us a call at (970) 507-8655. To see the homes we currently have listed, click here!