Did you know the average American household spends about $2,000 annually for utilities? What’s more, $200 to $400 is money wasted due to drafts, air leakage, and outdated HVAC systems. That’s a lot of money, right? You can save that money by making energy efficient upgrades to your home.
Let’s take a look at these money-saving upgrades, shall we?
1. Insulation
A very cost effective way to save on energy is by adding more insulation in the attic, or switching out the typical blanket insulation for either cellulose loose-fill insulation or spray foam insulation. The spray foam insulation is the most effective type of insulation for energy efficiency.
With that in mind, installing spray foam insulation requires professional installation and it can range anywhere from $1 to $1.50 per square foot.
2. Energy efficient appliances and HVAC system
Older appliances tend to use a of energy and are nowhere near as energy efficient as newer models. Look for appliances and electronics that are ENERGY STAR approved products. By replacing the refrigerator, washer and dryer and even the ranges, you can save 15% on how much energy your home uses.
The same with heating and cooling. When you upgrade your HVAC system, you can save up to 20% to 50% on your energy bills – providing you make some of the other upgrades on this list.
3. Programmable thermostat
It seems like everything is a smart device doesn’t it? Smart thermostats are an excellent way to reduce the amount of heating and cooling is used, especially when you’re not home. In the winter, you can decrease the temperature when you’re not at home and increase it to a comfortable temperature about 30 minutes before you get home, and vice versa.
If you don’t want to go the smart thermostat route, there are programmable thermostats where you can change the settings so the temperature is where it’s set to at the desired time.
4. Eliminating air leaks
One of the biggest culprits of wasted energy is air leakages. A whopping 40% of a home’s heating or cooling is lost due to drafty doors and windows and ill-fitted air ducts. You can prevent this by upgrading your doors and windows to high energy options. Not only are the new doors and windows themselves energy efficient, but the new seals will prevent air leakage. Save your precious time by using an estimating software to find out the cost incurred in home upgrades.
If you cannot afford new windows or doors, you can always use exterior-grade caulking and new weatherstripping to seal up cracks or gaps you may find.
5. Install ceiling fans
Ceiling fans are a great way to add a bit of style to a room, but they can also help circulate the air, regardless of the season. Most fans have a switch that allows you to change the direction the fan moves. In the summer, it should rotate counterclockwise to push the cooler air down, therefore making the air feel cooler than it actually is. In the winter, it should rotate clockwise to pull the cool air upward and push the warm air downward.
Keeping your home’s energy costs as low as possible isn’t just smart as a homeowner, it’s also a good way to increase the value of your home. And, according to HomeLight’s Q2 2020 survey, we are in a seller’s market! 60% of agents who participated in the survey said there were 60% more bidding wars in June 2020 and the market doesn’t seem to be slowing.
That means if you’re looking to sell, these energy efficient upgrades are a great way to pique a buyer’s interest – maybe even more than one!
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