Ways To Save Money After Buying Your First Home

Buying a home is many people’s dream. You’re lucky to be among those whose dreams’ come true. Buying a home is a long journey, with many obstacles.

Pouring all your savings in buying a home is a great decision. Paying the monthly rents has come to an end. You also have the freedom to do whatever you want with your house. You can paint the walls into your favorite colors, and do anything else without getting questions.

Buying a home is not the end of saving. You still have a future. You don’t know what it packs for you. Emergencies, retirement, kids’ school fees, and many more things are still there. You can also save to start your own business. Here are some of the things you should do after buying your first home to save money on maintenance and energy:

1. Install a programmable thermostat

A programmable thermostat helps increase your energy savings without having to sacrifice your comfort. Scheduling automatic increase and decrease of a room temperature help save energy used in heating during winter and cooling during summer. Installing a programmable thermostat in your home will help lower the utility bills.

2. Set the water heater temperature to 55 degrees Celsius (120 degrees Fahrenheit)

Water hotter than 120 degrees Fahrenheit will scald you. There is no need for heating water above 120 degrees Fahrenheit because you won’t use it effectively. Lower your heater’s temperature to save some money on energy bills.

3. Hang your clothes in a clothesline or cloth rack

Clothes dryers eat up your energy costs no matter how efficient they are. Hanging clothes rack at the wall in your laundry room and using it for items such as t-shirts, pillowcases, underwear, and towels will help you save money.

If you have a backyard space, install a clothesline. Hang your clothes outside. The natural breeze will do the work of your dryer at no cost.

4. Install LED light bulbs

CFL and LED bulbs are helping many homeowners save some money on energy use. The two also have a longer lifespan than normal bulbs. You should make sure to install them in your living rooms, kitchen, and other places where lights are in use for long periods. CFL are cheaper than LEDs, but many homeowners are using LED lights because they have better performance.

5. Change locks and have spare keys

Replacing the current door locks with top security locks help prevent burglary. If the front and back door hardware are weak, consider replacing them too. Having spare keys for your locks is a great thing. Now that you have made it hard for strangers to break into your house, you will also face it rough when you lose your keys. Having a spare key will help reduce the hassles of breaking into your own home when you lose your keys. Remember not to store your spare keys in the same house, store them somewhere else. Give your spare key to someone you trust or hide them in your home but outside your house.

6. Install a solar panels

Many homeowners are now looking for an alternative source of energy due to the rising utility bills. Installing a solar system helps you save a lot of money over time. The initial cost is high, but in the long run, you will save thousands of dollars.

Having a solar panel on top of your roof can also earn you some money. In some states, homeowners with solar panels are getting money from utility companies because of supplying energy to the power grid. A solar system also improves the value of your home.

7. Check all plumbings for leaks and constant running

Before you settle in your new home, check for plumbing problems. Plumbings that are constantly running or leaking will cost you some money. Make sure to repair or replace leaky faucets in your house. Those constant drips of water in your sink will cost you money if you fail to act quickly.

8. Check for cracks in the basement

Many houses have small cracks in their basements. You should check and mark them using masking tape. Growing cracks will cost you a lot of money if you fail to address them now. Call a specialist to fix the problem as soon as possible.

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