There are many reasons to renovate. You may wish to add beauty and luxury to your home, or you may simply wish to cut expenses. Over time, the money you save on heat, light and water by making your home more energy efficient may actually pay for the upgrades.
According to the Canadian Mortgage and Housing Corporation, here's on average what you can expect from the money you invest:
RENOVATION
PAYBACK
Kitchen
67 - 73%
Bathroom
64 - 71%
Painting
62 - 66%
Main floor family room
49 - 56%
Finished basement
50 - 52%
Upgraded heating system
48 - 50%
Landscaping
45 - 49%
Central air conditioning
38 - 43%
Energy efficient upgrades
33 - 39%
Of course, pay back also includes your personal satisfaction. Only you can place a value on that.
Be An Environmentalist...And Save
There are countless actions you can take inside your home that will save you money over time, and help reduce power consumption which ultimately leads to a cleaner environment. Here are 5 "win-win" things you can do after a short shopping trip to the hardware store.
Replace standard incandescent light bulbs with compact flourescent light bulbs (CFLs). CFLs use approximately 75% less energy than standard light bulbs.
Install low-flow showerheads to cut the amount of hot water used per day in half. At 2 showers per day, 5 minutes each, this adds up to savings of $100 per year.
Install faucet aerators to minimize the flow of water and maximize energy savings.
Fix leaks. A hot water leak of just one drop per second can amount to 700 litres per month. Fixing a leaky faucet is a simple, inexpensive task - and could save you $36 a year.
Lower your hot water tank thermostat setting. A setting of 54 degrees Celcius is recommended. A setting of 60 degrees Celcius is recommended if you have a dishwasher without a booster heater.
These and other energy reduction tips can be found on the following sites:
Copyright 2003. Michael A. Reis, Coldwell Banker Platinum Realty, Canada. All Coldwell Banker offices are independently owned and operated. Powered by Look Communications Inc. and compiled by The Corporate Ninja.
There are many reasons to renovate. You may wish to add beauty and luxury to your home, or you may simply wish to cut expenses. Over time, the money you save on heat, light and water by making your home more energy efficient may actually pay for the upgrades.
There are countless actions you can take inside your home that will save you money over time, and help reduce power consumption which ultimately leads to a cleaner environment. Here are 5 "win-win" things you can do after a short shopping trip to the hardware store.