Finance/Children

Home improvement projects that add value

Hey Taylor Are there any home improvement projects that actually “pay for Taylor themselves”? I Kovar never believe contractors when I hear that pitch, and yet I keep on hearing it so I’m wondering if it’s true in some cases. Can I break even with new windows or a better HVAC? Jeremiah getting swindled or paying for bad work, renovations can retain their value. Maintenance Reduction. An ounce of prevention is worth a pound of cure, right? Paying for metal roofing that won’t need repairs after each storm doesn’t exactly pay for itself, but it could save you from countless repair payments that cost a fortune over time. The value of an upgrade often depends on what’s being replaced; don’t lose sight of that as a contractor or salesperson pitches some fancy, expensive renovation.

Hey Jeremiah - Can’t blame you for not taking every contractor at their word. However, I will side with some of them on this issue; if you buy the right product at the right time, you stand to get your money back over the course of a few years. There are a lot of different variables, but you should start by considering these elements.

Utility savings. Naturally, whether or not an upgrade pays for itself will depend on the type of upgrade. If you install solar panels, you will save money on your electricity bill. Assuming you have a medium or large home and use a fair amount of electrical appliances, you could save about $200 a month. That means you’ll save over $10,000 in just four years, and that’s not including the tax rebate you might be entitled to. You mentioned new windows, and the math can be broken down in a similar way. If you get quality, energy-efficient frames, most experts say you can reduce your utility bill by about 30%. If you live somewhere with extreme weather, cutting your utility bills by ⅓ makes a big difference and adds up over the course of a year. Resale value. It can be misleading to hear that something “pays for itself.” That phrasing makes a lot of people think the upgrade will be free, and that’s definitely not true. However, a new HVAC unit, a remodeled kitchen, a renovated bathroom, and any other home improvement projects should be viewed as investments. Once your house is paid off, it’s an asset, and the better it looks and functions as a living space, the more it’s worth. As long as you’re not You aren’t being lied to every time someone says a renovation will save you money in the long run. Sometimes it’s not the case, but you shouldn’t dismiss the notion right away. It just depends on what you need fixed. Hope this helps! Taylor was raised by good ol' blue-collar workers and following in their footsteps led him to take on massive debt at a very young age. It didn't take him long to realize having debt wasn't his cup of tea, and he worked his tail off so he could enjoy financial freedom and independence. As an entrepreneur and financial professional, his work has been quoted and published in a variety of different media on topics such as financial management, budgeting, saving, business, investing, and more. Read more about Taylor at GoFarWithKovar.com

Legal Disclaimer: Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. To submit a question to be answered in this column, please send it via email to Question@GoFarWithKovar.com or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901. Blaise Pascal (1623 – 1662) said there is no idea so bizarre that a philosopher has not advanced it. These days, the philosophers in question are psychologists and the bizarre ideas are their explanations of human behavior. Said explanations are bizarre because (trust me on this, I am one) psychologists wear, as a rule, ideological blinders that prevent them from accurately understanding what makes humans tick. Unable to see human behavior for what it truly represents, they justify their existence by inventing and marketing diagnoses as if giving something a name is equivalent to understanding and knowing what to do about it. The latest manifestation of this fraud is Avoidant Restrictive Food Intake Disorder, or ARFID, formerly known as picky eating. Lots of university health centers and independent practitioners offer therapy for people of all ages whose parents never taught them that not eating what someone else, including one’s mother, has taken the time to prepare and serve is rude. One psychologist points out that most of the ARFID sufferers she sees eat the same stuff: macaroni and cheese, pizza, chicken nuggets, French fries, and grilled cheese sandwiches. Lots of folks will recognize those foods as the very ones they wanted their parents to serve at every meal. I know I did. Staring at several tablespoons of steamed broccoli for three hours before I decided I wanted to get up from the table was one of the most therapeutic experiences of my childhood. My next therapy session involved Brussels sprouts. That session lasted only minutes. Now, instead of picky eating being narcissistic and just plain rude, it is a psychological disorder that some people “have.” This ARFID thing has become big business, mind you. Google ARFID therapy and you will discover just how big. Some of

the therapy programs for picky eating children are residential and cost more than what most people earn in a good year. One psychologist, quoted in an online article, claims that picky John eaters have control issues. That’s Rosemond right. They have control over whether they eat broccoli and Brussels sprouts or not. They choose to be rude because they seek constant affirmation that their almighty feelings represent universal truths to which everyone else should genuflect. A true story: Once upon a time, a child became infested with ARFID demons at an early age. He would begin gagging and sobbing at the very sight of a food that caused his tongue to feel even slightly less than fully happy. His parents – bless their hearts –catered to the ARFID demons by feeding him only macaroni and cheese, French fries, and fried chicken nuggets. Sure enough, the ARFID demons grew increasingly clamorous. By the time the parents sought my advice, the child was certifiably insufferable when it came to food. He was well on his way to becoming an adult whom no one wanted to be around if the event involved eating. I told the parents to (a) feed him only what they were eating, but in half-teaspoon portions, (b) set a timer for 15 minutes, (c) put him immediately to bed if he didn’t clean his plate before the time expired, and (d) let him have seconds of anything on his plate if he ate everything within the time allotted. Within a week, the ARFID demons had fled – demons cannot tolerate common sense – and said child was eating everything on his plate and asking for seconds. My parents invented that therapy, by the way. It costs nothing. Family psychologist John Rosemond: johnrosemond.com, p arentguru.com.

John Rosemond has worked with families, children, and parents since 1971 in the field of family psychology. In 1971, John earned his masters in psychology from Western Illinois University and was elected to the Phi Kappa Phi National Honor Society.

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