Owning a home can be very rewarding, but the costs definitely add up quickly! Between the mortgage,insurance, taxes, utilities, renovations and other ongoing costs, it is nice to find ways to save!
We have prepared a list of 10 easy ways to save money as a homeowner anyone can use to begin saving money around the home immediately.
1. DIY Home Repairs or Improvements
This one is a “no brainer”, but you can save thousands of dollars by doing your own simple home repairs or improvements. Completing small tasks such as fences, painting, minor carpentry, plumbing or electrical, flooring, etc can save you a lot of extra cash if you do it yourself. Remember to know your limits and call the experts when they are needed.
2. Drafty Windows
This is more common on older homes, but this can cost you a ton if the drafts are bad. Imagine you have a 1/64“gap around your window (which seems small), when put together the equivalent is about a 3.27 square inch hole in your wall (which is pretty big). Consider the number of windows in your home and that is a lot of holes draining your savings every year. You can fix this with some simple weather stripping from your local home improvement retailer. Watch this video to learn how to effectively apply weather stripping to your window. Be aware of drafty doors too!
3. Change T.V Providers
With the variety of video watching apps out there like Netflix, Hulu or Amazon Prime Video, it’s easy to use these apps instead of a standard cable provider. They provide access to a large selection of content at a fraction of the cost, averaging about $15 per month.
4. Carpet Dents
Those dents on the carpet from heavy furniture don’t do there-sale value any justice. Prep your home for showing by getting rid of them. Simply place an ice cube on the carpet dent, let it melt, then fluff it out and voila! Un-dented carpet.
5. That Sun Is Hot
You won’t be saving a substantial amount with this one, but every dollar counts! In the summer time windows are the largest source of heat coming into your home. If you block off your windows from the sun you will greatly reduce the usage of your air conditioner and save!
6. LED or CFL Lighting
These two types of lights can save you a substantial amount of money in the long run as well as outlast any regular incandescent bulbs. They are worth the more expensive price! Try installing them in places you are most often or places that often get left on, like a porch or hallway.
7. Rain Barrel
Do your own gardening? Save money on watering your gardening by placing a rain barrel under your eaves trough drain to collect the water. Now you’re using fresh rain water for your garden and saving money!
8. Bundle Insurance
Do you have multiple insurance policies with different brokerages? Try bundling your insurance with one brokerage to take advantage of any potential insurance discounts. If you have questions about bundling your insurance contact a Swift Digital Insurance broker!
Read These 7 Ways to Save on Your Home Insurance Today!
9. Wrap Exposed Water Pipes
Exposed water pipes in your house tend to lose heat as they transfer the water around your home to your faucets or showers. If you wrap these pipes in insulation it can make a 2 – 4 degree difference in the water temperature. This also allows the hot water to reach your faucet faster. Watch this video by Home Depot to learn how to insulate them properly. Again, know your limitations and contact the professionals when needed!
10. Ceiling Fans
This one is actually quite interesting. Ceiling fans are a low energy way for having good air movement in your home. The trick to using them to save money is by having them blow the air down in the summer and pull the air up in the winter. This can make your home a degree or two higher in summer or a degree or two higher in the winter! See how it works here.
While some these easy ways to save money as a homeowner are one time fixes, others are ongoing. With cost saving in mind, hopefully you will find other ways to save money as you go!