Thursday, December 14, 2017 / by Christine Andreasen
Winterizing your home can pay for itself and then some. It can help you save money on costly repairs. The right project could save you money directly in the form of lower utility bills. The right winterization project could significantly increase the resale value of your home.
"The right winterization project could significantly increase the resale value of your home."
But here's the thing: Not all winterization projects are equally valuable. That's why I've collected the top three projects that stand out in terms of the return they will give on your investment.
1. Insulation. Each year, Remodeling magazine releases its Cost vs. Value Report for various home upgrades. This year, only one project had an ROI of over 100% and that was fiberglass insulation. If you add insulation tomorrow and decide to sell your home right after, you can expect that you will be able to sell for a premium. Even if you aren't selling your home just yet, then the improved insulation will accrue even more value, in terms of lower heating bills and increased comfort in your home.
2. Energy-efficient windows. A typical window replacement yields over a 70% return in terms of the resale value of your home. Depending on the shape of your current windows, you could save an additional 15% or more off your heating bills. Plus, new windows can add even more value to your home in terms of increased thermal and acoustic comfort, more light, and better design.
3. Gutters and downspouts. This last item won't save you money directly by cutting down your energy bills. It could, however, save you tens of thousands of dollars in terms of avoided repairs. Clogged gutters and downspouts can trap moisture. When the weather gets really cold, they can also help ice to form.This can ruin your roof and sidings, causing tens of thousands of dollars in damage. It will also impact the curb appeal of your home, which generates higher returns in terms of resale value than remodeling the inside of your home.
And those are three of the best winterization projects you can undertake to maximize your investment. If you have any questions for me about any of these upgrades or anything else related to real estate, give me a call or send me an email.