4 Money-Saving Tips for Homeowners

Jerome Powell
Money-Saving Tips

Owning a house brings all kinds of major and minor expenses and, let’s be honest, who is prepared with a bulging wallet when there’s a plumbing emergency? The good news is you can limit the financial stress of dealing with an emergency like this by implementing the following tips now.

Upgrade Appliances

Do you know that you could, potentially, save up to 30% on your energy bills just by upgrading the appliances in your home to newer, more efficient models?

Do you know that you could, potentially, save up to 30% on your energy bills just by upgrading the appliances in your home to newer, more efficient models? Yes, it may be an upfront cost that you could do without, but think about the long-term savings and what that would mean over a 3, 5, or even 10-year period. Many homeowners take out home equity credit to cover expenses like these so take some time to review a guide on everything you need to know about this form of lending. If it’s suitable, this type of credit will cover expenses you may encounter now so that you can save a substantial amount of money later. Shop around and choose appliances with the Energy Star label.

Schedule In Maintenance Checks

Again, you might be thinking that this will take money out of your pocket instead of putting it in. And it does in the short-term but, in the long run, scheduling in call outs with your local plumber, electrician, pool guy, roofer, gas supplier and landscaper could literally save you thousands of dollars each year. You may be able to benefit from a discount if you schedule in a couple of appointments in advance so don’t be shy in asking.

Get To Know Your Neighbors

These are those who will put you in touch with all the best and most trusted tradespeople in your area. The benefit for you? You’ll never be conned into paying for subpar work. Your new neighbors are the ones who shop at the stores you’re going to be shopping at over the next few years. The benefit for you? They’ll tell you the best times to shop, the best deals on offer, and, more importantly, the stores to avoid. Want to know the best local restaurants that let kids eat for free? They’ll tell you. Why not organize a get together in your backyard and invite everyone around? It’s a great way to make friends and get the conversation flowing.

Go Slow with Home Improvement Projects

You’ve just moved in and you’re dying to get painting, sanding, gardening and upcycling old furniture. We get it but you have to think about the long-term approach to home improvement. It can be very easy to rack up a huge bill in the hardware store only to be left struggling for cash when the bank comes knocking for their mortgage repayments. Remember, you’re going to have all the time in the world to make the changes you want to make. Make a list of the projects that you want to tackle and rate them according to cost and priority. Start with the tasks that are top priority but always be mindful of price. 

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