5 home renovations that will save you money

(NC) Home renovations can transform your space, making it more beautiful, functional and valuable. But did you know some upgrades can also save you money in the long run? Here are five smart renovations to consider:

1. Seal air leaks. Air leaks around windows, doors, cracks and even ceiling light fixtures can let out warm or cool air, making your HVAC system work harder. Air sealing is an affordable and effective way to reduce energy costs, increase comfort and create a healthier indoor environment - making it a perfect first step in any renovation.

2. Upgrade your windows. Did you know that up to 30 percent of your home’s heating energy can escape through the windows? Start small by re-caulking or weather-stripping to seal drafts and consider replacing your windows with more efficient models in the long run. These fixes can cut energy costs while keeping your home comfortable.

3. Conserve water with modern fixtures. If your bathroom or kitchen fixtures are old or leaky, now’s the time to make the switch. Modern low-flow showerheads, faucets and toilets are designed to conserve water without sacrificing performance. These upgrades can lower your utility bills and help the environment at the same time.

4. Invest in energy-efficient appliances and systems. Energy-efficient appliances are a great way to reduce your utility bills while helping the environment. Think beyond the basics - like a new fridge or washer - and consider upgrading your heating system. Replacing a furnace or boiler with an electric heat pump, for example, can provide reliable heating and cooling year-round while saving you hundreds of dollars every month.

5. Embrace eco-friendly landscaping. Eco-friendly landscaping offers more than just curb appeal; it can save you time and money, too. Native plants and shrubs require less maintenance and water, while strategically placed trees will eventually provide shade in summer to lower cooling costs. This approach is a win for both your wallet and the planet.

Funding your next home renovation project
To make these eco-friendly renovations more affordable, explore available rebates and grants, like the Oil to Heat Pump Affordability program, which offers upfront payments to help low- to median-income households switch to cleaner heating sources. Additionally, the Canada Greener Homes Loan provides interest-free financing for energy-efficient upgrades. Some municipalities, provinces or territories may also have local incentive programs to consider.

Learn more about funding for eco-friendly home renovations at canada.ca/heatpumps.