Do you want to make some home improvements this year? Do you feel your living space needs something new? We talk about real estate investing, and one perspective about that is investing in your own house. An investment in your own home can offer attractive returns in the form of capital gains. In addition, it also provides life enrichment. The right home equity investment can improve our enjoyment of life. It can make us healthier, and it can even make us happier.
Check this list with seven ways to invest in your own house and why it can improve your life in many facets. Keep reading to find out more!
1. Switch to solar energy | How to invest in own house
We all love living on this planet, but not everyone is doing something to preserve it.
Why not make an eco-friendly choice, and save a lot of money on expensive energy bills? The solution is simple: invest in solar panels. This can even be done with a subsidy, or you can apply for an interest-free loan for this.
Think of all those electricity bills. Aren't they expensive? Invest in solar energy and in the long run you will save a lot of money. Don't believe us? Solar panels usually last 20 to 30 years before they become less efficient. You could save 17 to 22 years on energy costs.
Depending on your energy consumption and the number of solar panels, the savings could be from hundreds to thousands of dollars per year. Typically, the return on solar panels is about 5 to 7% per year. In terms of return, this is the best home investment. 5 to 7% return may be lower than the best real estate funds or the best real estate stocks, but this return has a high degree of certainty. Solar panels provide low returns only if the sun shines infrequently and/or energy costs drop dramatically. The latter seems very unlikely given recent macroeconomic trends.
In short, this investment in your own home is good for the environment as well as for your wallet.
2. Grow indoor plants | How to invest in own house
Plants are beautiful! They give life to any space. Even that forgotten corner in your house.
But did you know that they also have many benefits?
First of all, they clean the air. Using the right plants, you can reduce indoor pollution and improve air quality. Isn’t that amazing?
But that's not all. Plants also improve mental health. A study showed that during the pandemic, people who had indoor plants had fewer symptoms of depression and anxiety.
In other words, indoor plants are a compelling low-cost investment in your happiness and well-being. But they are also a lovely, inexpensive decoration!
Buy a plant hanger or shelf (or do it yourself!) and make your plants stand out. A simple plant pot can be enough.
If you believe you don't have a green thumb, get low-maintenance plants like snake plants, aloe vera, spider plants, philodendrons, pothos, or succulents.
3. Invest in insulation | How to invest in own house
Insulating your house has multiple unexpected benefits and is worth the investment.
For instance, it is excellent for your health. Many studies show that insulating your house leads to a significantly warmer and drier living space. These conditions also result in improved health and well-being.
Insulation keeps your house warm during the winter and cools during the summer. In other words, your heating and cooling system won't have to run as frequently or with as much effort to maintain the temperature.
That means two things: a decrease in your energy bills and a reduction of the carbon emissions associated with cooling or heating.
Once again, investing in your house can be good for the planet and your wallet.
4. Get amazing artwork | How to invest in own house
Art creates conversation, prompts us to think and ask questions, and above all, makes us feel something.
Having art in your house is worth the investment. Imagine how cool it would be to show off your art collection or see a beautiful painting that inspires you every day at lunch.
What is nice about investing in art is that nowadays, it is easily accessible and available. In the past, it was only possible for a selected group. But now, you can go online and buy all types of art in various price ranges.
The best thing is that you can choose artworks that speak to you. It resonates with you, and you can establish an emotional connection with it.
Art is also a never-failing home decor. For instance, an attractive sculpture can give life to any monotonous living room.
Besides, consuming art (viewing paintings and sculptures, as well as participating in artistic activities) is positive for your mental and physical health, different studies show.
And if you want to go further, you can invest in the art market! If that's an option, consider working with an art investment advisor.
5. Build a conservatory | How to invest in own house
Conservatories are aesthetically pleasing. They are beautiful to the sight from the outside and the inside. Nevertheless, they have far more advantages.
For example, they are energy-efficient. If you have more light in the house, you also need to spend less on electricity.
Besides, they give you a great view of your garden. It creates an open space and allows you to enjoy the outdoors within your home. It also makes the whole house appear more spacious.
Surprisingly, they are also great for your health. If you get in contact with sunlight, you also absorb more vitamin D, the sunshine vitamin. It boosts your productivity, reduces stress levels, and balances your sleep patterns.
Additionally, conservatories could also increase the value of your home. It is advantageous if you think about moving and selling your house eventually.
Finally, the simple fact of conservatories being beautiful makes spending time at home more enjoyable and comfortable. Making your house look beautiful is always a good investment.
If you don't want a conservatory for any reason, you still can get many of its benefits in other ways. You have the option to install a skylight or add more windows. Please note, always work with a qualified professional in any of these projects.
6. Set up a noise-canceling system | How to invest in own house
Do you live in a busy urban area? Then you are probably dealing with annoying background noise all the time.
Noise pollution is a problem that will grow bigger and bigger as the population that lives in the city increases.
It can be irritating, but it is more than that. Urban noise can cause psychological distress and sleep disorders, multiple studies show.
If you don't want these problems affecting your household, you may consider to set-up a noise-canceling system.
There are many ways to soundproof your house, from more traditional methods (like sealing the doors, covering the windows, etc.) to more modern approaches like noise-canceling technology. Ask an expert and choose the one that fits your living space.
7. Make a room dedicated to something you love | How to invest in own house
We all have a passion, a hobby, or something we love to do in our leisure time. But what if you make a room dedicated to that activity?
If you have an extra room (or you can build one), you can make it your reading room, meditation room, video game room, home spa, home gym, etc.
It has obvious benefits. Dedicating yourself to a hobby or spending time alone can reduce stress and improve overall well-being. You can go there when you need "me time", or you need to de-stress.
If you don't have an extra room, don't worry: with some creativity, you can implement this idea in a space within another room in your house. You can, for example, create a reading space in your living room or a meditation space in your bedroom or garden.
Conclusion | How to invest in own house
Our home is where we spend a lot of time. Where we want to feel safe and comfortable. Therefore, investing in home equity is a smart financial consideration. In this article, we have seen that the best investments in own home lead to more money, more fun and health, or both. Some investments give attractive returns and also contribute to sustainability. Others don't pay off (directly) in cash flow, but add a lot of value to a finer and more enjoyable life. And that too is worth a lot!
Investing in your house can sometimes save money or time, but it has a more important benefit: your quality of life. Investing in your happiness is always a good investment with high returns.