dark mode light mode Search
Search

Smart Investments for Your New Home: Where to Put Your Money

Smart Investments for Your New Home: Where to Put Your Money

Investing wisely in your property can significantly impact its value, whether you’re a new homeowner or experienced in real estate ventures. The significance of well-placed investments cannot be emphasized enough in elevating your property’s value, comfort, and overall allure.

Crafted to offer tailored, intelligent investment suggestions for your new home, this guide empowers you to navigate the real estate realm with assurance. It aims to help you unlock the full potential of your property.

Energy-Efficient Upgrades

Emphasizing sustainability and prioritizing energy-efficient upgrades has become a focal point, with solar panels standing out as a remarkable innovation in today’s age. Opting for solar energy offers numerous advantages, particularly significant cost savings. While electricity rates differ across regions, homeowners with solar panel systems often experience substantially reduced utility bills.

According to The Hartford, on average, a homeowner can save an impressive $10,000 to $30,000 on utility costs throughout the lifespan of their system.

Furthermore, solar energy is recognized as a clean and eco-friendly energy source. The Department of Energy emphasizes that each kilowatt-hour (kWh) of solar power generated substantially reduces greenhouse gas emissions, including CO2.

Additionally, solar energy plays a significant role in mitigating the presence of hazardous pollutants such as sulfur oxides, nitrogen oxides, and particulate matter. Solar energy also contributes to lowering water consumption and withdrawal.

On top of that, investing in energy-efficient appliances, LED lighting, and smart thermostats complements this sustainable approach.

Interior Painting

Interior painting significantly influences the ambiance and visual appeal of your home. Opting for the right color scheme and high-quality paint can revitalize your space, crafting an inviting and personally tailored atmosphere.

Absolute Painting notes that interior painting goes beyond mere wall coverage. It possesses the power to invigorate the atmosphere, creating an inviting and personalized environment that resonates with your style and preferences.

According to Zillow’s real estate research findings, specific paint colors in your home décor might increase a buyer’s offer by up to $5,000. However, this increase is contingent upon the value of the home.

It’s advisable to stick to neutral tones, especially in communal areas like the kitchen and living room. Painting the kitchen with a fresh white hue, like Polar Bear 75, could potentially add over $500 to the home’s value. Similarly, light-gray tones used in the living room were linked to an increase of $200 in offer prices.

Additionally, understanding the climate of your home’s location is pivotal in choosing the ideal interior paint colors. “In sunnier regions with a warmer climate, lighter tones such as soft blues, creams, or pale yellows can counteract intense sunlight. These colors work wonders in creating a cooling and airy atmosphere, visually expanding rooms, and fostering a sense of relaxation,” says Jasen Edwards, chair of the Agent Editor Board at Agent Advice.

Conversely, in areas like Portland, Oregon, known for its mild, overcast weather and frequent rainfall, the selection of interior paint colors is crucial. The chosen colors should harmonize with the prevailing climate. Embracing lighter shades within your home can counterbalance the subdued natural light caused by cloudy days.

Soft whites, warm beiges, or light grays complement filtered natural light, adding brightness and openness to your spaces. By strategically incorporating these lighter hues, interior painting in Portland, Oregon, can transform the ambiance. It makes rooms feel more expansive and welcoming, even despite the cloudy weather.

Landscaping and Outdoor Spaces

Highlighting the natural beauty of your surroundings underscores the significance of prioritizing outdoor spaces. Enhance your home’s appeal by investing in landscaping, crafting an inviting front yard, and incorporating indigenous plants.  Creating an outdoor living space or deck significantly enhances property value, providing a versatile area for entertainment and enjoying the city’s pleasant climate.

The American Society of Landscape Architects highlights that professional landscaping has the potential to elevate a home’s resale price by 15 percent to 20 percent. This underscores the substantial impact landscaping can have on property value.

Smart Investments for Your New Home: Where to Put Your Money

Home Security Systems

Forbes reports that annually, over a million home burglaries occur in the United States, with a quarter of these incidents happening during the daytime. This establishes property crimes as the most prevalent type of offense.

Moreover, Statista notes that in 2022, the nationwide burglary rate in the United States stood at 269.8 cases per 100,000 individuals.

Given these concerning statistics, safeguarding your property investment becomes paramount by installing a comprehensive security system. Investing in home security, whether through smart locks, surveillance cameras, or alarm systems, provides peace of mind to homeowners. Additionally, these security measures have the potential to decrease homeowner’s insurance premiums.

Smart Home Technology

Integrating smart home technology into your residence not only enhances its value and convenience but also modernizes and streamlines various functionalities. These advancements range from smart lighting systems and automated blinds to voice-activated assistants, all contributing to a more efficient home.

As per Statista’s projections, the Smart Home market is anticipated to witness significant growth, with an estimated 785.2 million active households by 2028. Household penetration is predicted to increase from 14.2% in 2022 to 33.2% by 2028. Additionally, the expected average revenue per installed Smart Home is projected to reach around US$372.10.

Professional Home Inspections and Maintenance

Regular inspections and timely maintenance stand as crucial investments in preserving the integrity and functionality of your home. Scheduling routine professional inspections spanning electrical, plumbing, and structural components serves as a proactive measure to detect and address potential issues before they escalate.

Regular inspections serve to ensure the safety and reliability of your home’s essential systems. Additionally, they help mitigate the risk of costly repairs or damages that could potentially arise from unnoticed issues.

By identifying and resolving problems early on, homeowners can maintain the value of their property and uphold a secure and comfortable living environment.

In conclusion, investing wisely in your new home involves a balance between modern upgrades, sustainability, functionality, and aesthetics. By prioritizing these strategic investments, you have the potential to increase your home’s value and create a comfortable living space.

Before diving into any major renovations or investments, consider consulting with local real estate professionals or contractors. They can provide valuable insights into the best investments based on the neighborhood, market trends, and your home’s specific needs.

Images courtesy of Tom Ross and Clinton Weaver