How To Save Money By Upgrading The Right Appliances
Having a home that is energy efficient means using the most modern of devices that use the least amount of energy when they are running. As time passes, just about every appliance and device that can be used in a home becomes increasingly inefficient so continued maintenance is required. Eventually, after over general use, lack of upkeep, and new technology, appliances become outdated which makes it difficult to decide where you should begin replacing them. Understanding which appliances use the most energy in general is a great place to start.
One of the most energy-consuming items in your home is your furnace. A furnace can cost hundreds of dollars a year in additional energy costs when not maintained. This is especially true in areas that have moderate or extended cold winters like Columbus, Ohio. If your furnace is more than 15 years old it may be time to have it replaced. Depending on how old it is and its condition, your furnace may be able to be traded it in for a reduced cost on a newer model. Taking this step can save you a great deal and even pay for itself in the years to come.
Another huge energy consumer is a clothes dryer. Depending on the amount of use the dryer gets and whether you hang-dry clothes can depend on it’s lifespan and energy consumption It also depends on whether or it’s a gas or electric dryer. Especially if yours is a late model dryer, this appliance could be costing you hundreds to thousands per a year in energy. You can determine roughly how much energy it uses by looking at the KWH label on the machine. This will tell you how many kilowatts per hour it uses. You can then estimate how often you use it and compare that to newer models, subtracting costs to see what the difference in energy savings would be over a year. This will help you determine if it might be a good time to have yours replaced.
It is also important to note that if the older dryers are likely not operating at its highest capabilities, so you’re actually using more energy than necessary each time you use it. If the numbers are close and your dryer is more than 10-15 years old, it might be a sign that its time to move onto something newer.
Depending on where you live, another one of your biggest energy users is likely your air conditioning system. Whether you have a central air unit or use window units, these can suck up tons of energy each year. If yours is older than 20 years old, then it is almost certainly time to have it replaced. If it is younger than that, it should be routinely serviced. Of course, these factors also depend on how often it is in use. If you live in a hot climate where for 9 months out of the year your AC is running, it’ll need to be replaced more frequently. Additionally, if you live in a desert environment, for example, where there is a lot of dust or sand that could accumulate within the AC unit which can eventually cause internal problems, it will likely need replaced more frequently.
Hot Water Heaters
Waters heaters are a major culprit of energy consumption within the household. In the past water heaters were made to last up to 30 years! While this could save a great deal on having to have it replaced, the old models used an extremely large amount of energy to heat the water and typically had very large tanks. This made them very inefficient energy-wise.
Many hot water heaters are significantly smaller compared to their former selves, with a 40-gallon tank being the standard size for most homes with 2-4 people. It may be a good idea to have a larger hot water tank for a bigger house or if you have many kids or extra relatives who may use the water more frequently. Regardless, if your hot water heater is over 15 years old, it ‘s going to save you quite a bit of money just by upgrading to a newer model.
With each year that passes, appliances are becoming more and more energy-efficient and coming out with new “smart” features that make things more convenient for you. By investing in the newest appliances you can easily save hundreds of dollars each year on your energy bill and have some of the most unique features available. Just be sure to weigh your options on buying new while maintaining your current appliances to make sure they’re running efficiently as possible. In most cases, the purchase of a new appliance will pay for itself over time and as an added benefit, your taking the right steps towards living a greener life.
Real Estate Investing and Appliances
As real estate investors, it’s our job to get the most bang for our buck and that doesn’t change when replacing appliances. Because of the amount of work we’re normally doing when flipping a house, appliances are usually something we replace. Furnaces, AC units, hot water heaters, refrigerators, and ovens/ranges are the most valuable appliances in the home and when buying a new property, a new homeowner does not want to replace those. They are already dropping some serious money on the house so if those appliances are outdated, that could be a deal-breaker when it comes to selling. Either that or the buyer will want credits at closing to replaces those appliances. Washers and dryers are optional to replace and often we just provide the hook-ups for them and the buyers will bring their own. Granted, if we install a second-floor laundry, the washing and dryer become a sizzle-feature to sell the house quickly.