New Homeowner Tidbits: How You Can Save Some Money On Expenses
There are a variety of benefits to take advantage of as a new homeowner, such as the opportunity to claim various tax deductions and the freedom to make changes, small or large, as you see fit. You can also count on your investment to pay off for your family for many generations to come. But offsetting some of those benefits are expenses, like home insurance and maintenance, which has to be faced as time goes on. Luckily, there are a few things you can do to save some money on expenses that come with the territory of being a homeowner – here are four effective methods that should be easy to incorporate right away:
Save on Home Insurance
It is essential to maintain home insurance for your property at all times so you aren't stuck with extraordinary repair bills to deal with if a fire, flood, or other natural disaster comes into play. Many homeowner's insurance policies will keep your property protected in case of vandalism, a break-in that results in damage to your property, or the loss of your personal belongings on the property. While completely eliminating your homeowner's insurance bills isn't realistic, you can save some money on your premiums with the help of these options:
- Combine Your Auto and Homeowner's Insurance
- Install a Security System
- Replace an Old Roof
- Maintain Good Credit
- Increase Your Deductible
Your insurance provider should be able to offer you a list of effective ways to lower your rates without sacrificing your coverage. Make sure to compare deductibles and coverage limits in addition to premiums when deciding which updates will be financially worthwhile in the long run.
Save on Water Expenses
Water can be a significant monthly expense if steps aren't taken to preserve its use within the household. One of the easiest way to preserve water and reduce costs is to install low-flow aerators on the faucets and sinks throughout your house. They'll reduce your water consumption by up to 50 percent, which should be enough to noticeably reduce your monthly water costs. Low-flow aerators are easy to install by applying white pipe tape along the threads of the new aerator, pushing the washer into it, and then screwing it onto your faucet by hand.
Save on HVAC Expenses
As a homeowner, you'll likely rely on your HVAC system all year long, which is faced with wear and tear every time it is put into use. And with regular use throughout the year, the wear and tear put on your HVAC system requires the commitment of making yearly maintenance appointments and can ultimately result in the need to make repairs. You can save money on HVAC expenses by doing some of the maintenance yourself. For example, cleaning the filters once every two or three months will ensure proper air flow and put less pressure on the system so there is less for your service provider to do when they show up for a maintenance appointment.
It's also a good idea to protect your home from extreme weather conditions so the HVAC doesn't have to work too hard to maintain comfortable indoor temperatures. This will help minimize wear and tear as well as reduce the risk of damage and the need for expensive repairs. This can be done by:
- Sealing your window and door frames with spray foam insulation or caulking
- Planting trees around your home, especially near windows that get direct sunlight
- Installing a couple of ceiling fans in major rooms
The more your home is protected from the outdoor elements, the less you'll likely need to rely on your HVAC system in order to stay comfortable while spending time indoors.
With just a little pre-planning, these methods and techniques should be pretty straight-forward and time efficient to implement so your household isn't inconvenienced.