When you think about home renovations, the first thing that springs to mind might be pound signs. After all, improving your home is bound to require some level of investment. However, while certain property enhancements can blow a major hole in your budget, others can actually save you money. Here are three examples of renovation projects that can give your long-term finances a boost.
1. Improved insulation
If your rooms feel chilly in winter even if your heating is on full-blast, the chances are your insulation is insufficient. By taking steps to trap warmth more effectively in your home, you can keep it cosy in winter while also bringing your heating bills down. Energy efficiency specialists the Snug Network note that solid wall insulation can save households as much as £260 a year in heating costs, while cavity wall insulation can bring spending reductions of around £160. In addition, insulating your loft could help you lower your annual energy bills by as much as £140.
Regardless of the type of insulation you need, the process of installing it should be quick and you’ll start cutting your household bills as soon as colder weather sets in.
2. Boiler replacement
Another property improvement that could save you cash is boiler replacement. If you currently rely on an old, inefficient model, you may be wasting hundreds of pounds per year. Bear in mind that boilers account for over half of the average household’s energy bills, so this isn’t an issue you can afford to ignore. When you’re choosing your new heating system, look out for an A-rated condensing model. Also, if you don’t already have them, consider installing room thermostats and thermostatic radiator controls. This will help you to direct warmth to where it’s really needed and allow you to bring your bills down even further.
3. Solar panels
Last but not least on this list, you may also benefit from installing solar photovoltaic (PV) cells on your roof. These panels capture the sun’s energy and generate electricity, and a typical 4kWp system is capable of producing around 3,800 kilowatt hours of electricity per year in the south of England. This is roughly equivalent to an average household’s needs. So, by installing these systems, you stand to bring your electricity bills right down. You can also generate income through the government’s Feed-in Tariffs, which pay you for the power you generate.
Home renovations like these will require a little investment, but this should prove to be money well spent. Over the coming years, they will help you to keep your energy spending under control. They could raise the value of your house too. After all, savvy home seekers are always on the lookout for energy efficient properties.
This sponsored post was provided by the Snug Network who help homeowners around the UK to create cosier, more comfortable and more energy efficient homes.