Most major home improvement projects not only help maintain the home and make it more comfortable for the homeowner but increase home value as well. These types of projects are well worth the effort, and many recoup more than 50 percent of their cost upon project completion.
Home Improvement Projects that Increase Home Value
Home improvement projects are often rated on the return on investment (ROI) they offer. Based on this rating, the installation of a backup generator qualifies as a midrange project. Few remodeling projects return all value to the homeowner, and the range can vary widely based on geographical location.
According to Remodeling Magazine’s 2018 Cost Vs. Value Report, the national average for midrange projects costing less than $18,000 that still recoup at least 50 percent of their cost include the following:
- $1,471 steel entry door replacement increases home resale value $1,344, recoups 91.3 percent
- $16,393 universal design bathroom remodel increases resale value $11,581, recoups 70.6 percent
- $17,668 composite deck addition increases resale value $11,239, recoups 63.6 percent
- $15, 072 siding replacement increases resale value $11,554, recoups 76.7 percent
- $12,860 backup power generator increases resale value $6,940, recoups 54 percent
According to this report by Remodeling Magazine, on average, homeowners across the country can expect to increase their resale value by 54 percent of the cost of purchasing and installing a new backup generator.
Any project that will increase the home’s livability while also increasing the home’s value is worth considering. However, the investment in a backup generator provides value beyond these studies by preventing loss or damage, and bringing peace of mind to the homeowner.
Backup Power to Maintain Home Value and Prevent Loss
Today, we rely extensively on electricity to heat and cool our homes and keep them safe and dry. Electricity enables us to preserve and cook our food, take a warm shower, and see when it is dark outside. It only takes one power outage to remind us how much we rely on electricity for our everyday needs.
Backup generators, also called home standby generators, automatically restore power to a home in the event of a power outage. This allows homeowners to run important appliances such as sump pumps, heaters, air conditioners, refrigerators and freezers, lights, and more.
A backup generator can help prevent loss or damage to a home during a power outage. With access to backup power during a power outage, homeowners don’t have to worry about their home flooding because of an inactive sump pump. There is no concern about food spoiling because the refrigerators and freezers are still running. Through uninterrupted access to electricity, the homeowner has no worries about loss or damage to the home due to the power outage.
Dollars and cents aside, owning a backup generator has its own intangible value as well. The peace of mind that comes with owning a backup generator is priceless. In fact, this is often the reason a homeowner makes the investment in a generator. Especially if a power outage occurs during inclement weather, knowing that your home and family are safe and have access to heating or cooling can be very reassuring.
Don’t wait until the next storm hits. To talk with an expert about the right generator for your needs, contact Midwest Generator Solutions today.