You spent years scrimping and saving enough to purchase your very first home, and you finally have it. It's thrilling to have a place you can finally call your own, but it comes with its own set of challenges. One of the most daunting of those challenges can be saving money. Taxes, utilities, and repairs can quickly eat into your savings if you're not prepared. Below you will find different ways for new homeowners to save money and protect their wallets.
Focus on Bargains
If you spent an extended amount of time saving money before buying a home, you're likely an old pro at buying cheap. Unlike renting, however, it's now on you to buy everything that goes inside your home. If you do a little research, you can find many appliances on clearance that are fantastic quality for much cheaper than buying them brand new.
Check the Thermostat
You're almost certainly going to have to heat and cool a much larger space than an apartment. Heating bills can quickly rack up the charges every month if you aren't proactive. If you live alone or with others, make sure you turn the thermostat off when no one is home. If you have the budget for it, you can also get a smart thermostat that will automatically regulate the temperature to where you're comfortable and turn itself off while you are away.
Patch and Insulate
While being careful with the thermostat helps keep energy costs low, you can help lower them even more with just a few repairs. Check every window or other place where air can come through and see if you can feel a breeze. If you do, you should patch up the leaks with caulk or adjust doors, so they have no gaps. If you have an attic, inspect the insulation and determine if you need to add or replace what’s already there.
Check Water Sources
A leaky faucet or running water inside your toilet will run up your water bill fast. Explore the various fixtures in your home that are connected to water pipes. If you notice a drip coming out of a faucet or see mold and mildew buildup, you may need to do some repairs. Depending on the job, it could be as easy and cheap as tightening a nozzle or replacing a toilet flapper.
Some of these tips may seem obvious. Still, moving into a new home can be overwhelming at first, and you might not think of these things right away, so they’re worth mentioning. With just a little time and effort, you can save a lot of money in the long run that you can spend to make your home more comfortable.
