Member Article

4 Money Saving Tips for New Home Owners

Buying a house is a big step and it can be a huge financial decision as well. Owning a home is not without its costs. You have to consider all the important things such maintenance, utility bills, mortgage etc. but there are several ways in which you can lower the cost of having a house. If you are a new owner then it is important to make sure that you are aware of all the smart things that will help in lowering the cost of owning a house.

Here are some of the things that will help in saving money while taking care of your house.

Make sure the attic insulation is sound:

Insulation is essential for making sure that you keep the energy cost under control. As you buy the house you should especially check the insulation of the attic. People often pay attention to the insulation of the rooms but often forget about the attic. It can cost you a lot of money on energy bills. Make sure the insulation between the beams. If the insulation is damaged then make sure that you repair it before moving in because it will help in lowering maintenance cost.

Avoid overspending on remodeling and furnishing:

When you buy a house you are investing a large amount of money and you have to make sure that you have a plan for the down payment, moving cost and the closing costs. You can hire services such as a man with a van plus to help with the moving cost. In the beginning, you may find the monthly expenses to be high so it is important to be careful about spending the money. You may want to personalize the place but it is wise not to spend too much on remodeling in the beginning. As a new owner of a house, you should also be modest about the furnishing. You can always buy new ones with time. Save the upgrades for later when you have managed to stabilize the finances again.

Investing on essential maintenance:

It is important to use the resources wisely once you become a house owner. If there is a problem that is affecting your daily life like leaking roof then you need to fix it yourself because you no longer have the luxury to rely on landlord because you are the landlord. You should make sure that the plumbing of the house is functional. Make sure there is no leakage in the water pipes running through the kitchen and toilet because it can cause a lot of problems for you in the longer run. To save house running cost you should also get a programmable thermostat, replace air filters and all of the vents in the house should be clear and without anything blocking it.

Never forget to get insured:

When you are buying a house you should always make sure that you get insured. It is a requirement of mortgage lenders to have homeowner’s insurance. If you are sharing your new home with someone who relies on your income then you should also get life insurance and the dependent person should be the beneficiary of the insurance.

This was posted in Bdaily's Members' News section by Kevin Jones .