Whether you rent or own your home, improvements are something everyone has to deal with from time to time. There will be always something to improve, fix or change depending on what is going to happen. However, it has to be in consideration the amount of money it costs throughout time. Because if you notice well, maintenance can be very expensive if you don’t contract the right service to make it. And in case you’re looking to protect your budget and save money, look at the amazing home improvement ideas here.
As housing costs increase in many cities, budgeting for renovations and home improvements can be more difficult. But you can reduce maintenance costs when improving your home and you’re going to figure this out right now.
Get Tax Credit For Making Your Home Energy Efficient
Did you know that you can get a tax credit for certain home improvements? Visit the Energystar.gov site to learn more tax credits for home improvements. Find information about ENERGY STAR certified products, rebates, and product details about appliances, building products, commercial equipment, lighting and fans. No to mention to look for information about heating and cooling, office equipment, water heaters, and more. Turbotax also has great resources about energy tax credit and home improvements.
Focus On Things That Can Save You On The Long Run
Invest in a security system
A study found that 83% of burglars take an alarm system when determining whether or not to attempt a burglary. Investing in a security system could prevent your house from being a target and save you thousands of dollars.
Get a smart thermostat
Another great investment for your home is a smart thermostat. A smart thermostat is more energy efficient than a regular thermostat. It can control the temperature in your residence and make it more comfortable.
Install a fan in your ceiling
If you live in a climate where air conditioning is a necessity, consider investing in quality air conditioners. This can reduce your bill and can improve your quality of life.
Invest in smart lighting
There are many lighting options that are energy efficient. Investing in the right lighting could save you money at the end of the year.
Focus on quality instead of price
While it may seem intuitive to buy the cheapest materials when renovating your home on a budget. This strategy can cost you more in the long run because price is often related to quality. It may be tempting to choose the cheapest price but this option isn’t economical in a long term. Because you’re going to need to replace it again soon afterward.
Do the labor yourself
You may not feel comfortable doing certain technical repairment. But doing part of the labor yourself can save you hundreds of dollars. Painting, for example, can be expensive if you hire someone, but it’s really easy to do. Save your money for electricians and plumbers. That’s why do the labor yourself is one of the most accurate home improvement ideas.
Take advantage of coupons and cash back
Get materials and appliance with coupons and cash back. If you use coupons and cashback, you know how this can add up and make a difference in savings. Lemoney offers UP TO 10% cash back at The Home Depot. UP TO 10% cash back at Sears, and up to 14% at Ace Hardware.
Save money on your mortgage
Saving money for home improvements is the first step to turning your house into a home. This last tip isn’t something that’ll reduce your home improvement costs per se. However, it can reduce the costs associated with your residence. You’ll have more money left to invest in maintenance and improvements for your place if you save on your mortgage. There are many ways you can save money on your mortgage without refinancing. Here are my best tips:
Select a 15-year mortgage
Although your monthly payments will be higher, you’ll pay your balance faster. This will reduce the amount of interest you pay over time.
Make extra payments
Making even small extra payments every month can reduce the time that you’re paying for your home. This is also a great tip for credit card debt and student loans. Keep in mind that you must instruct your lender that you want to apply these payments towards your principal. Otherwise, the bank may apply this payment towards interest, and this strategy wouldn’t work.
We always stress the importance of budgeting on this blog. Budgeting for home improvements is as important as ever, so plan accordingly.
You will definitely feel a good change on your budget when you start to apply yourself these home improvement ideas. Cash back, doing the work yourself, and getting a tax credit are great ideas to save on renovations.