CAN YOU SPOT THE DIFFERENCE ?
Once upon a time a home-owner , Mr Jones, decided to have some home improvements . He called in the double glazing company, picked his new energy efficient windows ,asked the price and then agreed a start date.
Happy with his new windows he then called several local roofing contractors to sort out the cold and leaky roof. He asked about different tiles, made his choice, then after asking the price agreed a start date.
For his final home improvement project Mr Jones called the external wall insulation company to discuss replacing the tired and cracked pebble dash with an insulating render system. He asked about different finishes, made his choice and asked the price. He then asked the insulation expert
” Tell me, before I decide to place an order, how long is the payback period ? “
Why is it so important to Mr Jones ?
The insulation man replied ” That is a really interesting question and before I answer Mr Jones, can I ask you a few questions to help me understand why you ask ? “
” Tell me, what is the payback period for your new windows and roof and why is an investment in your home through insulation different from new windows, a new roof or a new kitchen ? “
As you will have probably worked out Mr Jones had no logical answer because there really isn’t one and yet people are continually told to only take action if the initial cost is returned in enrgy savings in a reasonable length of time.
Imagine if the same logic was applied to cars . No-one would ever buy a car again ! Drive it away and lose 20% in vat costs and after 3 years it has lost half its value .
THE RIGHT THING TO DO
Forget paybacks and rates of return . If your home is cold, damp, leaking heat or needs an existing cladding renewed then the only considerations should be the affordability and suitability of the work.
. THINC WETHERTEX - better for the experience