Image credit American Express
American Express likes to know where people spend money, and according to its latest American Express Spending & Saving Tracker, 64% of homeowners say they are going to invest in renovations this year, and a third of them are going to invest in green improvements. "Many are choosing to spend on energy saving measures because of the long-term, cost-saving benefits", and it appears that many of them are throwing their money away on the wrong things.
Really, no matter how many times we point to the Rocky Mountain Institute's guide or to the pyramid of conservation, people seem to go for the most complex and expensive choices, like windows and renewables. They are also dreaming when it comes to price:
While the number of people planning to make home improvements is similar to 2010 (62 percent), the amount they are planning to spend is significantly less -- dropping from an average of $6,200 in 2010 to $3,400 in 2011. Even though homeowners' confidence in the real estate market has increased compared to last year, less than half (43 percent) believe they would get the asking price for their home if it was on the market today.
You don't get a lot of windows or solar panels for $3400. All the more reason to do it right, in the right order. More at American Express, via Jetson Green
On Doing Green Renovations In the Right Order:
The "Pyramid Of Conservation" Is A Terrific Tool For Figuring Out Where To Start To Green Your Home
If I See Another Full Page Pella Window Ad I Am Gonna Scream
"Weatherization" Window Salesmen Overselling Savings And Wrecking Historic Buildings
12 Ways to Green Your Home for Winter: What Gives You the Most Bang for the Buck