Upgrades that increase value make up most of the choices faced by homeowners who are building their homes from scratch. In our last blog post, we covered some of the most common simple upgrades that increase both the value of a home, as well as its eco-friendliness (which also translates to wallet-friendliness)! In this post, we’ll be taking a look at some of the surprising pros and cons of such upgrades, and asking questions to see how well they work for us. For instance:
Is it Really an Upgrade?
There are some “upgrades” that, depending on your circumstances, may not be upgrades at all! Let’s see about a classic choice for home sustainability: Solar Panels. These are often the default when thinking about how to make your home more cost-effective and eco-friendly.
To ensure your home is ready for solar, you have much to consider. If a roof is too small, the panels won’t be able to absorb enough light. If your neighbors have tall trees or houses that shade your roof, they won’t get enough light. Perhaps your roof isn’t on an optimal angle (based on your location), they won’t get enough light. If your roof is angled the wrong direction relative to the sun, you guessed it! They won’t get enough light!
There is a structural aspect that is often overlooked, as well. It is important to determine if your roof is structurally engineered to handle the weight of the solar panels. If not, you may create a major problem without realizing it.
Provided you have the ability to accommodate all these needs, there’s one more important question: how long do you plan to stay in this house? Solar can be expensive, especially if you don’t qualify for the associated incentives and rebates. It can take years to achieve a return on the significant investment of solar panels the old-fashioned way!
However, let’s assume that money is no object. Your roof is ready for solar, and you have a great team standing by to install. According to a study by Zillow, solar panels increase home value by an average of 4.1 percent! Based on this information, you may well get your ROI (and then some) on closing day!
As you can see, there are so many benefits to adding upgrades that increase value. From cutting down on costs for yourself, to making some extra money when selling, and even to providing future owners of your home the benefits of eco-friendly living as well! Make sure to assess your budget and the abilities of your builder when beginning a project. You might find that there’s even more in it for you that you think!