12 Ways New Homeowners Can Save Money

You have just moved into your new home. You’re ecstatic because for the first time in your life there’s no more landlord and no more renting.

As you unload the boxes and get settled in, it’s the perfect time to think about the amount of responsibility you will now face as a homeowner and this includes coming up with ways to save money on your home. You’ve got to be smart when it comes to home concerns because small issues are almost always going to balloon into big issues for your wallet. By implementing a few simple actions, you’ll be able to save money which can be used for other important matters.

Here are 12 ways on how new homeowners can save money:

1. Install ceiling fans

Ceiling fans keep air moving in your home while netting you large savings on utility bills. Plus, they create a classic look.

2. Replace your air filters

Filters should basically be changed when they are dirty but as a rule of thumb it’s best to check them once a month. Regular maintenance will help ensure its long life and efficient operation.

3. Hang a clothes rack in your laundry room or if possible, an outdoor clothesline

Hanging clothes to dry in a clothes rack can really save you money. Aside from the good breeze doing the work of a dryer in no time, it comes at no cost as well.

4. Check all toilets, faucets and under-sink plumbing for leaks or constant running

Check the plumbing in your home before you settle in. A constantly running or a leaking faucet is going to cost you money in the long run. If possible, replace your older, inefficient toilets with low flush models so you can save gallons with every use.

5. Install LED or CFL light bulbs

CFLs use significantly less energy – 75 percent less energy than incandescent light bulbs. Less energy used means low energy cost. Install them in areas where the lights may be in use for long periods such as the living room or kitchen.

6. Choose energy efficient appliances

If the home you bought isn’t fully furnished then you’d probably have to buy appliances. Major appliances like refrigerators, clothes washers, dishwashers account for a big chunk of your monthly utility bill. With energy efficient appliances, you’ll not only lower your utility bill but help protect the environment as well.

7. Plant shade trees near your house

Trees properly placed around your home can reduce your air conditioning needs. Moreover, trees provide a wealth of benefits. They improve the air you breathe, cut your energy bills, and they add beauty and value to your home in the form of curb appeal.

8. Change the locks and make spare keys

Homeowners usually do change the locks on their new home just to be on the safe side. Installing a security system may seem a bit over the top for some but investing a bit of money can protect you from burglary down the road.

9. Install low-flow showerheads and faucets

Conserve water usage in your home by installing low-flow showerheads. Older showerheads send up to 3-5 gallons per minute down your drain while new, easy-to-install conservation models provide a satisfying shower using only 2.5 gallons per minute or less.

10. Make your home more disaster resistant

Make your home more resistant to windstorms and other natural disasters by adding storm shutters, reinforcing your roof or buying stronger roofing materials. Also consider modernizing your plumbing and electrical systems to reduce the risk of water damage and fire.

11. Don’t overspend on furniture

It’s easy to be racked up in credit card debt if you buy more furniture than you can  afford. If you really want to fill the space with new furnishings, give it a lot of thought first or consider items that aren’t too pricey.

12. DIY Projects

Do small projects like painting, cabinet building, etc. to cut costs. Keep in mind that there are things we should never have to pay others to fix for us.

Now that you’re a homeowner, you should have the initiative to inspect every quaint nook, cranny and peculiarity of your home.  By doing so, you’ll be able to put yourself in the best financial situation possible now and in the long run.

Do you have your own way of saving money in your home? Share it with us in the comment section.

Looking for a new home? Contact us now and we’ll be glad to help you find one.