Real Estate

Money-Savings Tips for Homeowners

Owning a home is one of the most rewarding, yet most expensive, investments you’ll ever make. This means that as a homeowner, you likely want to cut expenses wherever you can. Luckily, there are many small ways you can save money that can have a big impact on your overall budget.

Monitor Your Thermostat

Thanks to technology, you no longer need to manually control your thermostat, which means you don’t have to worry about forgetting to turn it down at night or before you leave your home. Instead, you can take advantage of using smart thermostats to do the work for you. There are some thermostats that learn your household’s behavior and adjust the temperature accordingly. You can also program smart thermostats right from your phone, which gives you overall control of your internal temperature and can save you money on your monthly energy bill.

Watch Water Usage

Did you know that you don’t really need to use hot water on your laundry cycles to get your clothes clean? You can wash everything on the cold cycle, which uses less energy, and still get them just as clean. Another way to save water is to use low-flow showerheads, which waste much less water or install dual flush toilets that allow you to control the amount of water you use with each flush. These small adjustments can save you hundreds of dollars a year.

Keep Your HVAC Running Smoothly

You should plan to have your HVAC unit cleaned and inspected regularly to get rid of stopped up, grime that can reduce your system’s efficiency. Having a dirty system can make it wear out faster and require a major repair or whole-unit replacement. Plan to have your system cleaned out twice a year and inspected for any issues. If you see something wrong, have it taken care of immediately to save you money down the road.

Hang Your Clothes

When the sun is out and it’s a nice day, take advantage of nature to air-dry your clothes rather than use your dryer. It may take longer to line dry your items, but you’ll save money and have fresh-smelling clothes when they’re done. If you don’t have a clothesline, you can also buy garment racks to use in your home, which not only provides a little moisture to the air but also saves on running a dryer, which eats up a lot of electricity.

Seal the Windows

Manually check your windows for cracks or gaps and if you see any, have them sealed off immediately. This keeps energy loss and keeps your home’s heat or air conditioning running at optimal efficiency, thus saving you money. Weather-stripping is a simple and practical approach to lessen drafts.

Protect Your Home

Your home should have adequate protection from fire, theft, or other damage that could occur throughout your homeownership. If you don’t have the right coverage, you could face high out-of-pocket costs should something happen to your home. Paying more now can save you thousands of dollars down the road. Check with your local insurance provider to be sure you’re getting the right protection on your homeowner’s policy, and make adjustments as needed. You should also revisit your plan each year to ensure your coverage is still adequate for your needs.

Using these money-saving tips, you could see more money in your wallet at the end of the month that could be used towards other expenses, such as home improvement projects or your retirement.

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