Last month, we had some home renovation tips for people looking to sell soon. If you’re planning to stay in your house or condo for a couple of years or more, there are a number of additional projects you can look into that will likely pay for themselves.

It should be noted that very few of these projects will have any dramatic effect on the value of your home, but they can generate savings that add up over the course of time. The majority of these projects involve improving efficiency.

A new central heating and cooling system can dramatically lower your monthly bills. Newer units are a great deal more efficient than older ones, and while they can be a little expensive, your monthly savings will add up. Additionally, when it does come time to sell, a modern system will be more attractive to potential buyers than a hulking, energy-sucking dinosaur.

Along the same lines, insulation and high-quality windows will further help to lower monthly bills by keeping the cold air in and the hot air out, or vice versa in the winter months.

High quality insulation may be nothing more than a functional improvement, but it is a relatively easy DIY project, and it’s not overly expensive.

Windows are the No. 1 culprit when it comes to temperature exchange. Old windows are not only unattractive, but they allow for temperature exchanges of almost the same degree as not having any windows at all. Sure, they might block the wind, but they are not helping control the climate inside your house.

When it comes to windows, you have two options. The first is cheaper and less effective, but it’s better than nothing. It involves buying insulating film for your windows. The insulation film comes in a number of different R-values as well as tints. Mirrored films reflect sunlight and help keep a home cooler in summer. They also provide a certain level of privacy.

New windows are more expensive, but they also provide the greatest amount of insulation. Stay away from custom designs, however, because they cost more and do little more than standard designs to increase the value of your home.

You shouldn’t be looking at any projects larger than those already mentioned if you don’t plan to stay in your house for five to 10 years. If you’re really thinking long-term, there are three projects that will both save you money and increase the attractiveness of your home.

The first involves putting in desert landscaping (you should do this anyway because it is terribly wasteful to water grass in the desert). It costs less to maintain and can also improve how your home looks. Future buyers will be impressed by your environmental responsibility and will like that this project has already been performed. Landscaping is expensive, but in terms of saving, this one can also help pay for itself.

Another project for the outdoors involves building a deck. A deck is the only addition that will increase the value of your home and it is the only project that has a chance of recouping some of the expenses when it is time to sell. A $15,000 deck can recoup about 75 percent of the installation costs.

Inside, nothing adds value like a new bathroom. If you’re ready to knock down walls and get in touch with your inner plumber (remember to find a pair of jeans that leave a little something showing), this is a great project. You can come close to recouping the whole cost of the renovation, and having the extra bathroom may be enough to hook a buyer.

Obviously, you can do anything you like to your house or condo so long as you adhere to HOA regulations. The above advice is simply meant to keep you from putting in a pool or a hot tub thinking that you can use it now and it will pay for itself when you sell. It won’t. Pools are expensive to maintain. They also create liability issues that may scare away some buyers.

The whole idea here is to give careful consideration to any home improvement project you are looking to make. At the very least, you should be able to find things that you can improve that will make your house function better and cost less to maintain. If you can increase the value of your home in the process, consider that an added bonus. And be forewarned, just because you like something does not mean anyone else will. If one man’s trash is another man’s treasure, than certainly in many cases the opposite is also true.

Most importantly, be honest with yourself about your abilities. Don’t try to do any of these projects yourself if you don’t have the tools or the skills to do so. If all you know about screwdrivers is that they are delicious cocktails, leave these things to a professional. You’ll have to hire a professional to come in and fix your mistakes anyway, so you might as well just bring them from the beginning.

By Delbert Grady