There’s nothing more satisfying than owning your own home. Everyone goes through a period where they have to live by somebody else’s rule, either when you lived with your parents, rented an apartment, or resided in a college dorm. You may have had a curfew or strict rules about home decorations that you had to abide by that’s why when you finally have your own place it feels so liberating.
But owning a home is also incredibly expensive. It’s well worth it for the freedom you gain, but there’s no getting around the fact that homeownership requires a lot of financial investment. Not only do good homes cost hundreds of thousands of dollars, but you have to pay for insurance, repairs, and your own furniture.
With the economy being what it is, it’s more important than ever that homeowners are able to save as much as possible on home costs. With this guide, I’ll present a few tips and tricks that you can use to get some much-needed savings out of your home each and every year.
Prevent Breaks Before They Happen
One of the biggest expenses that plague homeowners each year is maintenance costs. A broken water main, frayed electrical wiring, and a leaking roof are just a few examples of the common problems’ homeowners encounter. These sorts of issues will quickly drain your budget and your patience if they’re not dealt with.
To help save money, you should take steps to prevent these disasters before they occur. Conduct regular checks and services on your home throughout the year. Inspect your ceiling and if you find excess moisture, find the source and plug it quickly. If your sink is even remotely slow to drain, get some clog removal gel and use at least half the bottle.
By doing routine inspections throughout the year, you’ll be able to save potentially thousands of dollars from having to buy expensive tools or hire a technician. There’s a lot of things you’ll need to check, so take your time and be thorough. Better Homes and Gardens has created an excellent home maintenance checklist, and I highly recommend you download and use it.
Regulate Your Home Temperature with Home Decor
During the height of summer and the depth of winter, your A/C bill probably tends to skyrocket. It takes a lot of electricity, and a lot of condensing power, to keep your home temperature regulated during these periods. To save on those costly utility expenses, use your home decor pieces as a buffer against the elements.
People tend to focus on color and texture when they buy furniture and other home design pieces. Most people barely give any thought to the fabric aside from the comfort factor. But material can really help to bolster the air flow in your home, which will, in turn, help you keep the thermostat at a moderate setting.
If you live in a warmer environment, use soft materials like cotton that allow air to flow freely and keep things cooler. For colder environments, use thick blankets or a large area rug made of wool to help keep your house insulated.
I’m not suggesting that you ever skimp on cost if your family is miserable. However, we all tend to crank up the thermostat more than we have to when the weather is extreme. Taking advantage of our own home decor is a great way to reduce these costs in the long run.
Only Cover What you Need with Insurance
While many people find that they actually pay less per month on a mortgage than they do by renting, homeowner’s insurance often makes up the difference. No matter who your provider is, homeowner’s insurance is expensive. The average cost of homeowner’s insurance is around $1,000 a year, but in certain states, it’s much higher.
When it comes to your insurance policy, only take out the coverage that you will need. Pay attention to the common issues that you encounter, or could very likely encounter, and don’t pay for things you won’t. For example, if you live in an elevated area with little rainfall, you probably don’t need flood insurance. Talk to your neighbors for advice and trust your own judgment. Don’t always take the words of your insurance agent verbatim; they’ll often try to scare you into taking out coverage you don’t need so they make more money.
Additionally, if it will save you money, bundle your homeowner’s insurance with your other policies. While this isn’t always the case, many insurance providers will provide discounts and other incentives if you use them for all of your insurance needs. You might think you’re saving more money with individual plans from different providers but you might actually be missing out on the savings a package deal provides.