Ways to Save Money When You Own a Home


Ways to Save Money When You Own a Home

In times of inflation and rising energy costs, it's a good idea to try to find ways to save money at home whenever possible...

In these times of inflation and rising energy costs, it is a good idea to try to find areas where you can save money whenever possible. Owning a home can be very expensive and often causes people to end up “house poor”. Luckily, there are a lot of ways to save money when you own a house.

There are always areas where you are simply wasting money. When you identify those areas, it becomes easy to trim the fat and spend less money. It’s just a matter of knowing where to look. In this article, we will go over several ways that you may not realise that you can save money when owning a house.

Three Unexpected Ways To Save Money When You Own A Home

Photo, PlanetCare.

1 – Energy efficient appliances

It may seem counterintuitive to go out and spend money to be able to save money but that’s effectively what you are doing when you buy new appliances. Old appliances are costing you more money to operate right now since they use far more energy than newer models.

Over time, you will also find yourself getting them repaired since they usually start breaking down after the warranty expires. If you buy new appliances you will see them pay for themselves over time by the savings they provide on your energy bills. They last a lot longer than they used to and you can always buy home appliance insurance for peace of mind in case they break down.

2 – DIY repairs

This is a very good time to start watching some YouTube tutorials on simple repairs you can be doing for your home. This is because it is going to cost you quite a bit of money just to have a technician or plumber walk through the door. This is going to cost you even if they don’t open their toolbox and make a repair.

There are many small jobs that you can learn how to do yourself and avoid having to spend money on a professional. For instance, instead of calling a plumber when your garbage disposal gets stuck, look into fixing it yourself. In many cases, it can be done in minutes and save you hundreds.

You can often replace an old toilet yourself in just a couple of hours without any special expertise.

3 – Get smart thermostats

Managing your energy use is a full-time job if you have to be worrying about setting the thermostat yourself. When you have smart thermostats, it is not only easier but almost totally hands-free.

This is because they use AI to determine the ideal temperature and the ideal time to have the heat or air conditioner running. For instance, many of them have sensors that will help them understand which rooms you use the most and at what times. Then it directs the heat to those areas only so you aren’t heating the whole house.

Many are also geofenced so they will turn the HVAC on when your smartphone gets within a certain distance. This prevents the house from being heated or cooled when there is nobody home.