<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=355535778237127&amp;ev=PageView&amp;noscript=1">

How To Save Money As A New Homeowner

Jul 25, 2017 - Posted by: Rocky Mountain Credit Union

We understand how much time and effort has gone into saving for the purchase of your new home.  In addition, becoming a homeowner doesn't mean that you should stop trying to save money.  Homeownership can be costly between repairs, maintenance, and day to day expenses.  So the question is, how does one save money as a new homeowner?

Check the Quality of Your Insulation

Having proper insulation in your home will help reduce your energy costs and keep your home a comfortable temperature no matter what the season.  Check the insulation in your attic and if there is a lot of wear or thin spaces, add some more.  The cost for the insulation will be more than recouped in the energy savings.

Install Energy Efficient Light Bulbs

Take a quick inventory of the lighting fixtures in your home.  If you need to add any additional lights, consider adding a LED lighting option.  For your current lights, replace any older model bulbs with new energy efficient ones.  Having all energy efficient lighting can amount to significant electric saving by the year's end.

Add Some Shade to Your Home

If your yard gets full sun, consider planting a tree to provide shade to your home and help reduce the cost of cooling your home in the summer.  While this change may take some time to get the full effects, you can choose from a variety of shade tree options that grow more rapidly and still provide the shade you need.

Make Sure Your Air Filters are Clean

Before running your heating or cooling system for the year, change the air filters and make sure that the unit is cleared out and free of debris.  Next, check the vents and duct work for obstructions and debris that may hinder the air flow.

Use Fans

Another example of how to save money as a new home owner is installing fans throughout your home.  Not only will fans help give you air circulation, but it will also contribute to reducing your coolest cost during the warmer months.

Fix Leaks

Save on unnecessarily high water bills, by giving your home plumbing a quick run through after purchase.  Check the pipes in the kitchen and bathroom for leaks that can cause you added expense on your water bill as well as costly repairs if not fixed early.  Give your toilet tank a quick check as well to make sure they do not continuously run.

Seal the Drafts in Your Home

If there are areas in your house where drafts are apparent, either through expanding and contracting of doors or worn window seals, you should seal them off as soon as possible.  The airway leaks can cost a significant amount in energy costs as well as provide possible entry points for rodents into the home.

Use Automated Thermostats

Automated thermostats will help to maintain your programmed home temperature to save you on electrical costs as well as keep the temperature in your home optimal.  You can also program your thermostat to lower temperatures when you are away to reduce the amount of energy used at that time.

When looking at how to save money as a new home owner, you can try the options above that will help you save on day to day energy costs as well as prevent costly expenses that may occur down the road.

If you enjoyed this blog, take a look at some of our other related articles:

Fix Your Finances Download Our Free Budget Worksheet

<<< Return To Blog

Other Articles