5 Tips to Make Summer Home Renovations Pay Off

NEW YORK (MainStreet)—Younger homeowners are likely planning renovations this summer, according to a new study, with some improvements benefiting property values more than others.

The Zillow Digs Summer Home Improvement Trend and Spending survey found that 71% of those aged 18 to 34 plan a home improvement or addition compared to 51% of homeowners 55 and older.

The survey found that 40% plan to work on their outdoor spaces while 17 percent plan to improve their bathrooms.

"As we head into the long days of summer, we are seeing increased interest in outdoor spaces with very natural elements such as stone fireplaces as well as bringing more light into bathrooms with clear glass on the walls and shower enclosures," said Cynthia Nowak, a trend expert with Zillow Digs.

Overall, 60% of American homeowners plan renovations and expect to spend $1,200 with 65% of homes housing children planning three or more home improvements compared to 57% of homes without children.

But not all home improvements pay off and positively impact property values, according to the Appraisal Institute, a professional association of real estate appraisers.

Siding replacement, entry door replacement, attic bedroom addition, minor kitchen remodel and garage door replacement rank among the projects with the highest expected return on investment, according to Remodeling magazine's most recent Cost vs. Value report.

"Projects that take a home significantly beyond community norms are often not worth the cost when the owner sells the home," said Appraisal Institute President Richard L. Borges. "If they don't match what's standard in a community, they're considered excessive."

Other renovations with high expected pay-offs include basement remodel, deck addition and window replacement.

"Consumers should be aware that cost does not necessarily equal value," Borges said.

Below are 5 tips to consider before launching home renovations:

• 1. Arrange a feasibility study for an unbiased evaluation. "During a feasibility study, a professional real estate appraiser will analyze the homeowner's property, weigh the cost of rehabilitation and provide an estimate of the property's value before and after the improvement," said Borges.
• 2. Add green and energy-efficient renovations. "Adding Energy Star appliances and extra insulation are likely to pay the homeowner back in lowered utility bills relatively quickly. Lower utility costs also are a draw for potential homebuyers," said Borges.
• 3. The longer a homeowner stays in a property, the greater the opportunity for a return on investment As a result, Borges advises holding off on big renovations when a homeowner isn't sure how long they will be in their home.
• 4. Check online for home renovation ideas. About 37 percent of homeowners look to the internet for home improvement ideas and inspiration, according to the Zillow Digs survey. HGTV.com, Pinterest and Zillow Digs were among the most common online sources for inspiration.
• 5. Download the Appraisal Institute's free Remodeling & Rehabbing brochure at www.appraisalinstitute.org

--Written by Juliette Fairley for MainStreet

5 Tips for Saving Energy this Summer

Here are 5 quick things you can do to stay cool and reduce your monthly bills this summer.

1. Change your filters in your heating/cooling system at least monthly.

2. Check your system – before you need it.  This keeps you from making an emergency call when the temperatures soar.

3. Change your old thermostat to a programmable one. New wireless models even allow you to control the system from your phone when you are away.

4. Set your ceiling fans to rotate counter clockwise to better distribute cool air to help reduce your need to use the air conditioner.

5. Grill out!  Keep the cooking heat outside and reduce the heat inside.

Celebrating Earth Day

Happy Earth Day!
What does this mean for you and your household. It can simply mean turning off the lights when there not in use, or don't keep the water running when not being used. Today you can make the decision to go a little more green and save money along the way, here are some household tips to achieve that: 

Power off

• The screensaver on your computer uses the same amount of power as when it's on and being used. Switch your PC off if you're going to be away for a while.
• Turn down your water heater. By lowering the temperature on your water heater from 140 to 120 degrees will reduce your water heating costs by 6-10%
• 50-70% of a household energy costs come from heating & cooling according to the Department of Energy.
• Installing a programmable thermostat will save you approximetly $150 a year.
• Aim for 78 degrees of higher when you are at home while reducing your cooling loads 10-20%. When you are away from home make it 85 degrees, and save an additional 5-12%.
• In cold weather for every degree you lower the thermostat you will save between 1 and 3% of your heating bill. 

Unplug

• Unplug unused chargers, plugged in cellphones, laptops or anything for that matter. Americans throw away about 8% of our annual electric bill from having objects just simply plugged in.

• The easiest way to save is to buy a surge protector that can plug in multiple units, that way you can turn off more than one charger in one switch.

Light Fixtures

• Install CFL's, the spiral-shaped bulbs known as compact fluorescents use less than a third of the energy regular bulbs use and last 10x longer. 
• If every household in the U.S. replaced just on regular bulb with a CFL, the amount of energy saved could light 2.5 million homes for a year.

Water Fixtures

• Buy low-flow toilets, they use less than a gallon of water, brands such as American Standard, Toto and Kohler. Toilets used to use about 5 gallons per flush, so if your toilet is outdated it may be time to make this change.
• Buy low-flow shower heads, which can decrease water usage by 50-70%. They only cost about $8
•  install low-flow faucets.
• Wash clothes in cold water whenever possible. As much as 85 percent of the energy used to machine-wash clothes goes to heating the water.
• Use a drying rack or clothesline to save the energy otherwise used during machine drying.

Upgrade to Energy Star Appliances

• Look for the blue and white label which means the item uses at least 10-50% more efficient than standard models. more than 18,000 products have the Energy Star design.

Other

• Use a water filter to purify tap water instead of buying bottled water. It will save you money & help you live a more green lifestyle.
• Bring a reusable water bottle, preferably aluminum rather than plastic, with you when traveling or at work.

By making these small changes you can save money & make for a cleaner earth one household at a time