When the matter of home repairs or home upgrades comes up, many homeowners like to look at the out of pocket cost they’re presented with as the lone determining factor of whether or not it’s going to be a viable investment. And while this might indeed be a dictating factor, it’s also important to look at all of the peripheral costs or savings that might come along with it, to truly get a sense of what you’re spending versus saving in the long run.
Not sure what we’re talking about? Let’s take an insulation installation in West Lorne, ON for example. You’re going to be given the dollars and cents of what it’s going to cost to have your home’s insulation replaced in an estimate from your contractor… but what you’re not seeing are some of the other dollar figures that can and should be factored into that cost. What’s more, the figures you’re not seeing are usually the ones that are going to make the cost of an insulation installation more affordable in the long run. Take a look:
- Lower heating and cooling costs are generally a benefit of having updated installation, so it’s important to factor in your estimated monthly energy savings after an insulation installation in West Lorne, ON. And while these savings might seem nominal after just one or two months, try adding them up over a few years to see what your recouped costs are—they’re certainly going to be larger figures!
- With heating and cooling costs kept lower thanks to new insulation, you can also make the assumption that your heating and cooling units are going to be unburdened slightly by your home’s ability to retain controlled air. This means less function over time for these units and the savings that comes with not having to replace parts because of excessive wear and tear. Anyone who has ever had to shell out money for unanticipated HVAC repairs know that these aren’t cheap!
- Finally, in conjunction with the point above, your essential HVAC systems are going to last longer because their efficiency will rise thanks to fresh insulation. What this means is a longer overall life for these costly amenities and a weight off of your mind when it comes to replacing them. This can total thousands of dollars in your pocket and more than makes up for the initial cost of new insulation.
The peripheral savings just keep coming as well—from adding value to your home to catching problems with your old insulation that may have been costing you money. In the end, it’s important to look past the dollar amount on paper when deciding whether or not it’s time to upgrade your home’s insulation and instead, turning your attention to the big picture. This way of thinking is sure to yield more sound results and a better peace of mind for you when you decide that it’s time for this essential home upgrade.