Money Saving Renovations for Winter

Thomas Short
Military VA Loan contributor

Winter is a busy time, and there are tons of ways that homeowners can spend a little more money than they were planning. Between gifts, dinners, and traveling, the costs of the holiday season add up.

What some homeowners don’t realize is that their homes might also be costing them more money during the holidays.

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Why go through a winter renovation?

With many different holidays falling in November, December, and January, plenty of homeowners ask themselves, “why now?” A big reason is affordability.

The housing market – and most industries involving housing – slow down during the winter. People are busy with family, and nobody wants to renovate a kitchen while people are coming to stay in your home for the holidays.

Because many people think this way, contractors and stores offer deals during the winter. This means that many renovations you’re looking at could end up being cheaper during the holiday season.

So, if time permits, choosing to get a renovation during the winter can be a cheaper option. Before committing to a renovation, though, you should always prepare for the worst. If a contractor says a job will take a week or two, don’t be surprised if it ends up taking longer.

Money savers in the winter

Most parts of the country see temperatures drop pretty significantly during the winter. These places also may have spikes in energy rates during colder periods, so using the heat in your home can feel incredibly expensive.

Here are some renovations to keep your winter costs lower:

Energy-efficient windows

A lot of energy transfers through your windows, particularly when it’s a lot colder outside your home than it is inside.

Energy-efficient windows will keep your home insulated, meaning it will stay warmer for longer while also using less electricity.

According to Energy Star, replacing single-pane windows in the average American home can save the owner $126-$465 a year. You only have to replace the windows once, so if you stay in your home longer, these savings start to stack on each other.

Energy-efficient windows are also a good selling point, particularly in areas with harsher winters. You’ll save money on your energy while possibly increasing the value of your home.

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Insulate your garage

This isn’t the most exciting renovation, but it’s a big one. Your garage could be seeping heat from your home and then releasing it outside. For how much time most people spend in their garage, this is essentially a waste of heat and energy.

Better garage insulation won’t keep your garage the same temperature as your home, but it will prevent you from losing too much heat. The same goes for other areas of your home that you might not think about, such as attics or unused basements. If you’re concerned that they’re wasting energy, then it’s worth looking at adding insulation.

Other energy-efficient upgrades

Aside from heating, other products will use gas or electricity to warm up, such as your water heater. You may be more likely to use hot water in the winter for obvious reasons, so it could be worth investing in a more energy-efficient method.

Popular options include heat pumps or high-efficiency water heaters. These can be more expensive, but you do save money each month on electricity.

Smart thermostats are another energy-efficient investment to check out. They keep track of your daily routine, and they heat your home at the appropriate times to keep you comfortable while not wasting as much energy.

3 tips for winter renovations

1. Prioritize indoor renovations

Winter weather can be unpredictable. A sudden snowstorm can set back a renovation, and it might not be completed until the worst is gone. Indoor renovations can be completed in any weather, so these should be prioritized.

2. Stick to a budget

Slow renovations can end up costing more money. Set a budget and stick to it. If your goal is to save money during the winter, then you shouldn’t be spending more than you’re comfortable spending.

3. Look out for sales and deals

Again, winter tends to have lower prices, and more contractors may be interested in working since business tends to be slower. You can use this to your advantage. Shopping around can help you save money while also learning about the best winter renovation options for your home.

Check your VA refinance rates. Start here (Apr 23rd, 2024)