Best Way to Spend $5000 on a Home?

joshjosh210 on 25/09/2023 - 07:47

Morning

My partner and I are moving into our very first home at the start of October, and along with this we are receiving a $5000.00 gift to put towards the home.

I’d like to spend this in a way that can help us save money in the future and be more energy efficient. I’m tossing up between the below items and just wanted to hear some feedback.

  1. Small Solar System
    The house currently doesn’t have any solar, and considering a small system like a 6.6kw to help reduce our energy bills.

  2. Replace gas hot water with heat pump
    Looking at replacing an older gas hot water (house was built 19yr ago, not sure exactly how old the hot water is) with a modern heat pump unit to reduce our gas bill.

  3. Split System
    Currently the house is fitted with ducted gas heating and ducted evaporative cooling. Thinking a split system would reduce heating cost (gas has been a killer for us this year) and improvise cooling.

Hoping to hear your feedback on where you’d spend the money, or anything else you can think of.

Cheers

Home & Garden

Comments

      • Oz em on 25/09/2023 - 18:23

        It’s JA panels and a solis inverter.
        I’ve had it for 2 years now and I’ve been happy with it. It’s not the most expensive best brand but not the worst either. They gave me a price then I asked for a lower price. It was $3200.

        And no my house hasn’t caught on fire.

        • shutuptakemymoney101 on 25/09/2023 - 18:32

          Good luck (sincerely), hope the gamble on cheap gear works out for you.

      • foxinsox8 on 25/09/2023 - 19:50

        sleight

    • DoctorCalculon on 25/09/2023 - 19:38
      +1

      I got a 10kw solar system for less than $5k.

      A family member is about to spend 3x as much on top REC panels and Enphase microinverters for a 8.4kW system.

  • debb on 25/09/2023 - 18:29

    Double glazed windows

    • Cheapskate Paul on 25/09/2023 - 20:26
      +1

      Having just double glazed ten windows and the front door, I can assure you that $5000 won't get you far. They are amazing though.

      • Hasbulla on 26/09/2023 - 14:42

        yeah maybe half a window

  • Worf on 25/09/2023 - 18:36
    +1

    +1 for solar, but I’m unfamiliar with Victorian weather patterns (and as others have said, your roof orientation and shading are other factors to consider).

    If going the Solar route, you may need a switch board upgrade… e.g., if the fuse breakers are the older type switches. Unsure what the exact criteria are, but we had to get a switch board upgrade and all of our circuits/switches now have their own safety switch built in (I think they call it rcd). As opposed to having a separate safety switch which only protects power points.

    Ceiling insulation is also money well spent.

    Maybe do a poll

  • Herbse on 25/09/2023 - 22:08
    +1

    Solar. Definitely worth it if you can get decent panel setup

  • geosta on 25/09/2023 - 23:32
    +1

    The value in solar these days is in offsetting your usage, not feeding it to the grid. If you can move most of your power usage (ie washing machine, dishwasher) to times when the sun is shining, your RoI in solar will be much better. If you or your partner (or both) work from home then you can structure your power usage to maximise the usage during the day. I've had 6.6KW of solar for just over two years now and it's paid for itself already, but 70% of that has come from offsets, the feed in has been getting increasingly worthless.

    Congrats on getting your own home!

  • Jarryd90 on 25/09/2023 - 23:38

    If it's going to be a long-term home, invest in a good quality solar system. Unsure of what you get for solar rebates and $$ for putting energy back into the grid but if you make sure you use as much as you can during the day (timer on dishwasher if your at work, washing, drying etc) you'll save a few hundred every electric bill.

    Mine went from about $500 every 2 months to about $220-$240 depending.

    Think we spent about 7k for REC Alpha pure R panels (6.6kw) and the newer model fronius 5kw inverter, in WA.

  • aquavires on 26/09/2023 - 01:07
    +1

    Congrats on your new home! May it serve your family well over the years.

    Consider hiring an energy auditor who can assess your home+surroundings and help you prioritise the improvements to your home. They will quite likely identify things you haven't thought of before. Get an independent auditor who doesn't have a vested interest in selling other products/services.

    If you want to go down a rabbit-hole of research see what others are doing, have a look at MEEH: https://www.facebook.com/groups/996387660405677/

  • knasty on 26/09/2023 - 07:49

    I agree with everyone saying solar. What doesn't get talked about much is panel positioning. When FITs were high it made sense to aim panels north as you'd get the highest total output that way. Now that self consumption is key you really want to match your panel orientation with the time you're using electricity. I went for 60% north 40% west as we use relatively little in the morning and a lot more in the afternoon; if I had my time again I might even go 40% north and 60% west.

  • Sammyboy on 26/09/2023 - 08:52
    -2

    Im guessing too late to upgrade to double glaze windows since you must be way past that stage. You could put a heat reflective film on all your windows. Cheap and meant to be reasonably efficient.

    Solar rebate is pretty crap at the moment. That could change (up or down in time) Will take 10 years to pay off anyway. Gas heating does "feel" a lot nicer than electric. Evap cooling is useless at certain temps. I'd probably put a split system in.

    Heat pump is super expensive to repair. If its solar, the panel lasts only 7 years and the cost to replace that if possible is almost as much as a new system, so people just switch it back to instant gas when the pump system breaks.

  • Muselibar on 26/09/2023 - 09:10

    Best way to spend $5k on a house I would say (before moving in):
    - Painting
    - Tidy up garden + plants + mulch
    - New carpet/tiles/flooring (if needed)

    As for all the things you want, probably won't matter much if you do them now or later:

    -Small Solar System

    I would get 3.5k system size minimum. Look at available rebates. Good idea, but this can wait

    -Replace gas hot water with heat pump

    I got my old gas hot water replaced with heat pump in Vic for $350 all up through rebates. Have a look. Also can wait, as easy retrofit and won't matter if living there or not.

    • Split System

    Good idea. Also can wait as easy retrofit.
    Maybe get insulation in the roof too, DIY it for affordable option as even thought it's a hard job but you don't need to be skillful. Insulation can also wait.

  • jrvb42 on 26/09/2023 - 09:12
    +1

    You haven't said where your house is.
    Before putting solar in, check the condition of your roof.
    Qld govt is offering $11k towards roof replacement.
    Check your heating/cooling, again an offer from Qld govt.
    Many other options too.

    If you do go solar, ensure your hot water is placed on a timer and on the main (expensive) tariff, so your solar can be used on-site to heat it.
    Hot water is one of the biggest uses of electric.

    Feedin tariffs are pretty pathetic, so maximise your onsite use, saving full rate, before "donating" to the grid for a pittance.
    Hence, have your washing machine, dishwasher, hot water, air con, operating mostly in the daytime.

    And congrats.

    • Muselibar on 26/09/2023 - 10:15

      I have heat pump HW and 6.6KW rooftop solar system and when I went on holiday the house was only importing around 1kw per day (after dark).
      I only left the fridge and heat pump HW running when away.

      But overall net use, I was exporting far more than imported and that was during winter.

  • Waltervp on 26/09/2023 - 09:26

    $5k only scratches the surface. I suggest solar for now. A 6kw system will save you about $2500pa.

    But depends on your heating bill too…. reverse cycle heating saves a ton of gas. What is your anuap gas bill? Assume gas is 500/ month for 6 months then that equates to 3k, versus half that on heatpump system. So solar panels win.

    Id say get solar panels .

  • ctan7 on 26/09/2023 - 14:19
    -3

    Spend it on lawyer for a prenup (if you are making more than her and/or contributing more)

  • harrywwc on 26/09/2023 - 14:53

    if you've just bought the house, then you're possibly not real sure how effective (or not) the swamp, uh, evaporative a/c is during summer. give it a summer (or two) to see.

    as others have said, and I can confirm, getting the solar array will save you money. mine (only 4.1kW) paid for itself within 5 years. you will probably (with 6+kW) recover the cost in less than that. you can then look at putting the savings towards reverse cycle a/c.

    oh! another good way to save some bucks is to put led lighting throughout the house. this will also help save, especially when your panels are not generating electricity.

    unfortunately, battery tech is still not yet to the point where it will more than pay for itself in less than a decade (which is the 'expected lifespan') - it's close, but not quite there yet. although, if you're in an area that has frequent (more than a couple of times a year) blackouts, they may be worthwhile as a house-sized ups :)

  • Hangryuman on 26/09/2023 - 15:49

    I would first check insulation - in Vic my heating bills were mainly due to lack of insulation.
    In a cold winter, efficient heating will not prevent massive heat loss through an uninsulated ceiling and/or brick-veneer walls. Check the ceiling first as the easiest best way to add insulation - if you are in a high thermal mass brick/concrete strata complex with neighbours above/below and either side like us, your main problem can be stepping outside wearing the wrong clothes - "ooh! I didn't realise it was so cold/hot outside - I'll have to go back inside to change clothes!" - as happened yesterday in our place in Sydney.

  • nikey2k27 on 26/09/2023 - 18:33

    heating or hot water then solar if there all gas solar waste at this point.

  • TheItalian on 26/09/2023 - 22:16

    Solar for sure. With say a 7c per kw feed in tarif, youll get plenty back over a 10 year period. I say 10 years, because feed in tarifs may no longer be a thing in 10 year's time.

  • AuQld on 26/09/2023 - 22:35
    -3

    What type of home, new or old.

    Led lights, CCTV, Alarm, Security screening, appliances. Solar is bottom of the list, no you don't need a heat pump.

  • Cluster on 26/09/2023 - 23:03

    Solar will pay for itself within a few years, but only if you use electricity during the day. You can time things like a dishwasher cycle.

  • releasethekr4cken on 27/09/2023 - 09:48

    That's a lot of eneloops

  • johnfuller on 27/09/2023 - 11:44

    these days, $5000 doesnt get you far, for instance, if your looking at doing a pool, the survey, plans, and approvals alone are around $8,000

  • placard on 27/09/2023 - 14:09
    +1

    Getting off gas ultimately is a good goal, but doesn't need to be done all at once.

    Firstly, I'd get a split system or two with the $5k and stop using the gas ducted heating. That will instantly save a heap on gas bills, plus you get cooling in summer. Split systems are extremely efficient these days.

    I'd also recommend getting a solar system - doesn't have to be massive, but 6.6kw should good. Learn to time all your heavier appliances to run during the afternoon, as feed in tariff rates are fairly low these days. Night time, the usage can mostly be just lighting and tv etc. Washing machine, dryer, dishwasher, etc, run during day as much as possible, or set up timers for it to do so automatically.

    Stove to induction, or convert existing gas stove to LPG (change jets) and plumber install connection to outside for 2x 9kg gas bottles - will last ages and eventually can then disconnect gas connection.

    Hot water system heat pump - a decent brand like Hydrotherm X8 can be had after rebates at the moment for around $2k out of pocket in Vic. Uses 2-3kWh per day to reheat water - very efficient. Time to heat during solar generation so effectively costing nothing, except the loss of FIT.

    I helped my parents do the above change and it's great. Solar went in in 2019 and has more than paid for itself, gas disconnected earlier this year. Total electricity bills annually now estimated around $500 only and $0 gas. Very economical and they aren't 'scared' to put on heating as it's not costing a fortune like gas was.

    • spedohero on 28/09/2023 - 00:57

      So whats the total costs involved to do all the changes you just mentioned? Thanks

      • placard on 28/09/2023 - 09:01

        Hard to know with price changes over time.

        Split system in 2009 was a 7kw Fujitsu unit - wsa $1600 + $800 install. In 2018 a second one was installed in a bedroom other end of house - 2.5kw Fujitsu was $500 after cashback/Fujitsu promotion + $850 install. $3,750 total. Benefit is previously was one gas wall furnace, now they have heating and cooling.

        Their stove was always electric so didn't need to change that, which just left the gas connection for gas storage hot water.

        Solar went in in 2019, from memory the system was around $5,800 before rebates - Longi panels 6.6kw/Fronius inverter 5kw. They aren't huge power users so this size is perfect. After rebates was about $3.9k. After installing this, electricity bills were next to nothing over a 12 month period, with price rises now, it's around $500 for the year these days, however I'm wondeirng how much of this is due to being more relaxed about putting on appliances such as heating and cooling, whereas it took a while to get out of the mindset of "Expensive bills = leave heater off".

        Gas was disconnected recently after installing a Hydotherm X8 heat pump hot water system. Gas bills were costing $600 per year which was said about was just for the hot water storage tank, last gas appliance. With rebates this was $2.1k out of pocket. Therefore will break even in 3 years. Gas has been now disconnected (just asked for a final bill meter read and heat pump installer capped off the meter). I don't care if the meter stays there, I don't need a full gas abolishment, so this final meter read cost $11. This unit is set to heat between 11am and 5pm so uses solar generation and only realistically takes just under 2 hours to reheat daily, using 2kWh or so. So it's only 'costing' me 2kWh of lost FIT - which at 7c per kWh is nothing.

  • pformag on 27/09/2023 - 15:09
    -1

    Gaming Rig

  • ToyotaCrownHybrid on 27/09/2023 - 23:31
    -1

    2 techfast gaming pc setups

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