Owning a house is a big life event. It’s thrilling to have discovered the ideal home that you can design, refurbish, and make your own. While large-scale restorations and remodels might be pricey, certain home improvement tasks are straightforward and can potentially save you money in the future. These five modifications are simple, practical, and may add value to your property.

1. Home Security System
Installing a home security system is probably not the first thing that enters your mind when thinking about house upgrades and methods to save money. However, it may cut your homeowner’s insurance by as much as 20 percent. That’s in addition to all the other advantages of a security system, of course. The main advantage is that 83 percent of criminals seek a security system before trying a break-in. By installing a home security system, you’ll secure your house and family and save money.

2. Install New Doors and Windows or seal them.
By installing weather stripping or caulking around windows, a property owner may prevent drafts and make a house cheaper to heat or cool. If performing this basic step is beneficial, why would anybody want to pay the additional money to install new windows or a new front door? In buildings that include older single-pane windows, sealing around the frame may not be adequate. You can also add a protective glass coating for easier cleaning.
Newer window types perform a far better job of maintaining the inside temperature since they do not allow much hot or cold air to escape. When it comes to insulation, windows with wood frames or wood-clad frames give the greatest value. They are somewhat more costly than vinyl or aluminum versions but may be worth the premium — particularly if the window update is eligible for PACE financing.

3. Solar arrays
This home repair project is more costly than others, but the long-term benefits make it worthwhile. Solar panels continue to increase in performance. Solar panel costs have decreased, their capacity to catch photons from the sun and convert them to power has increased. According to ComputerWorld, the technology is evolving as solar shingles become more popular. The magazine says that the time required for solar panels to pay for themselves is also decreasing – the typical rooftop solar system will pay for itself in seven and a half years. The sooner you install solar panels, the more money you will save on your energy expenses.

4. Improve the efficiency of the water system
There are a few techniques to reduce the cost of a home’s water supply. Another advantage of the low-flow shower and faucet fixtures is their minimal installation cost. They will pay for themselves in a matter of months via savings on water costs. A new water heater is a more costly update but may prove more useful in the long run.
Tankless water heaters provide hot water on demand rather than at a constant temperature, using much less energy. Standard water heaters have increased in efficiency over the last decade, and any improvement will almost certainly result in water and energy savings

5. Smart home technology
Previously, home automation was a concept reserved for science fiction films. It is now becoming more ubiquitous and a standard element in all households. It’s handy to have smart home technology. It enables you to operate and monitor your house remotely, and it may even help you save money on your monthly power costs.
Utilities, including heating and cooling, electric, and water bills, make for a significant portion of a homeowner’s monthly costs. While the initial investment in smart home gadgets may be substantial, the long-term advantages outweigh the costs. For example, smart thermostats cost between $200 and $250 upfront, but they may save roughly $150 per year in utility costs, quickly paying for themselves. Consider purchasing smart thermostats, light bulbs, and even intelligent sprinkler systems. Installing smart home technology in your home is simple, adds value to the property, and saves you monthly bills.

While some home renovation tasks may incur initial expenditures, they can result in monthly savings. You may use the money you save on utilities and other humdrum bills to decorate your home, entertain and host visitors at your home, or save it for an impending makeover. These repairs will improve the look and value of your house while also saving you money in the short term.

5 Home Improvements That Save Money Over Time by Stephanie Snyder