9 Home Maintenance Money-Saving Tips for Homeowners

If you have recently become a homeowner and are looking at ways to save money on your home’s upkeep, we have some suggestions for you. Often new homeowners are unaware of the additional costs, but with the huge benefits of home ownership, it is best to manage expenses rather than miss out on them by renting.

 

Cool it Down

Lowering your water heater temperature to 120 degrees will help you save money on your utility bill while also protecting you and your family from an accidental scalding.

Install an automated thermostat so that you are able to keep your home programmed at a lower temperature when you are at work and overnight when asleep. Keep your thermostat at 69 degrees and watch your savings grow over time.

 

Get More Efficient

A lot of money leaks out of our homes, literally. Watch these big losers and make changes as soon as possible:

  Windows

- Replace drafty windows with energy-efficient windows. Check drafty doors as well.

Roof

- check your roof and attic insulation for heating loss straight out of the top of your home. Additionally, a leaking or damaged roof can let in damaging water, resulting in costly repairs.

Electrical outlets

- outlets, especially those on exterior walls, can be drafty as well. Consider insulating them and even using child proof outlet covers to limit drafts.

Appliances

- update old appliances with new appliances that have high Energy Star ratings. If you have done any remodeling or updating, check with a professional to insure the new appliance(s) can handle the remodel.

Solar

- while solar costs upfront, over time it can save big money. Rebates for solar programs can help offset installation costs.

 

Some companies can offer an energy audit, which can help you as well.

 

Talk to Your Insurance Agent

Your insurance agent may be able to save you money on your homeowner’s insurance by offering suggestions that will improve home-safety. This can include installing a security system, modernizing your plumbing or electrical systems, and even installing smoke detectors. Ask about discounts for bundling or raising your deductible.

 

Some homeowners may also want to consider a home warranty plan to help offset home maintenance costs. These programs can help manage the large and often unplanned expenses of an appliance failure.

The costs of home ownership can be managed, a great way of doing so, is to leverage your home in a refinance, obtaining a loan for home improvements, or even downsizing. Regardless of your financing needs, we are here to help you understand your options in mortgage lending. Give us a call today to examine your unique situation, answer any questions you have, and get the information you need to meet your homeownership goals.