Having a house that you may call your own is everyone’s dream. Most of the people like to do everything just to be able to save up to purchase their dream house and when they do achieve this milestone, they feel a sense of contentment and fulfillment. However, there are times that it will not be enough. The reason for this is a great number of people are planning just to have the house. They have unintentionally ignored or neglected the possibility of them having a family or if they have planned this in advance, they have not anticipated growth in the family members. This means getting a new house is the only option and selling their previous home is inevitable. However, there is a big chance that the expenses made from building the house all those years ago will not be returned based on the value of the house at present. You can search on Licensed electrician by Click here for more.
That is the dilemma of most people who sells their home. It is only natural that they want a return of investment for this house so that they can use the funds for building the new house. While it is true that some houses lose their value over the passage of time, this value could be increased by doing upgrades in the house.
You might be asking, “Why would I spend more money on a house that I will sell? Wouldn’t I rather use it in the new house that I will purchase?” You have a valid point there. However, if you choose to do the upgrades and delay doing this in your new house, you will be rewarded with a much higher value for your old home and it will be purchased at a much higher price than it should be.
There are a lot of upgrade types that you can choose from but one of the best contributors for a high return of investment is upgrading the various electrical systems in your home. People nowadays want an energy-efficient home and are willing to pay top-money for houses that have “green” upgrades. That is your cue. You can use the experience that you learn from upgrading your old home and apply it to your new home afterward. This article will tackle this topic and help you decide on the upgrades that you will do on your home, whether you will sell it or not.
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Check The Energy Consumption That Your House Uses
Assessing your home’s energy use will give you an idea as to which upgrades would payout in the long run. The results of this assessment will indicate your energy rating, how energy efficient is your house and how much value will be added to the house’s price once the upgrades are applied. You will also determine the prices for thee upgrades. This way, you will know which is the most affordable of these upgrades and have a faster payoff than others. After ascertaining the affordable ones, you can now check if the expensive upgrades would be worth investing in. Here is a list of some common electrical upgrades.
Insulation
Any home without insulation is going to be very hot. That said, it is very cheap (among the others in this list) to upgrade the insulation of your home and would improve the resale value of your house by more than 115% of the original expenses for the upgrade.
The Appliances Used In The House
15% of a house’s energy consumption is used by the appliances in the house itself. Always be vigilant in reading the fine print of the appliances that you will purchases. Check if the energy-saving calculations pasted on their exterior are correct since it will be the basis for its return of investment role. To determine if you will really be able to cut costs in energy payments for these appliances, check the kilowatt-hour usage of the appliance that you are planning to buy. You should then compare it with the energy consumption of your present one. Only then you will be certain for sure that you will have savings and good resale value.
The Cooling And Heating Systems
43% of your electric bill is being used by the heating and cooling systems. The prices for a replacement of the Heating, Ventilation and Air Conditioning in a house may vary and depend on the brands in the market right now. However, it is safe to say that an approximate for all these will be at least $3000 or more. A good tip is that 30% of the cooling costs can be saved if you replace your air conditioning unit that has been around for more than 12 years. Also, make sure that leaking ducts in your air conditioning unit are fixed since these are known to be the biggest energy wasters in any home.
You can always sell your home if you want a new one. However, if you are a person who believes in sentimental value, if you can just extend your house, it would be fine as well. At the very least, you can still apply all the tips listed here for your home.