5 Smart Things a New Homeowner Can Do to Start Saving Money Right Away

new homeowner

So you sank all your money into your first home. Congratulations. You are a new homeowner.

Once you’ve got the keys, you can look forward to spending a long time in your new investment. It’s what millions of us dream of.

But don’t stop just yet. You’ve spent a lot on your property so you might be feeling the pinch.

Once you start owning your own home, you may want to think about ways you can start saving again.

So here are five tips for new homeowners on easy ways you can reduce your spending.

1. Insulate Your Attic

Did you know that most of the heat we lose from our homes goes out the roof? Hot air rises, so this makes sense.

But as a new homeowner, you’re going to want to stop that from happening as much as possible.

Not only does insulating your attic stop you from losing too much indoor heat, it also helps prevent moisture damage to your roof from too much rain or snowfall (discover more about the benefits of roof insulation).

2. Dry Your Laundry Naturally

We all want to save on bills. But while people are switching off lights and electronics when they aren’t using them, they may be neglecting one thing: laundry.

It’s so much easier to stick wet clothes straight into the dryer. But that thing will have you hemorrhaging money in no time.

A simple tip is to invest in a clothesline so you can hang your laundry up. Let them dry naturally and you will be saving yourself a small fortune.

3. Use Energy Saving Lightbulbs

Speaking of energy, according to Time, the US spends around $19 billion a year on electricity. That’s more than the national debt of Guatemala!

You can help reduce that number by switching to energy saving light bulbs. Yes, these have been around for a long time now, but there are still some households that are clearly not on board with them yet.

4. Install Ceiling Fans

You’d think ceiling fans would actually cost more money, not less. However, fans circulate air around the room, which can save you money on your bills over time.

One thing you should bear in mind: in the summer, the air from the fans should be blowing down, and in the winter the air should be sucking up.

5. Research Before Renovating

Eventually, you’ll need to do some renovations. Over time the house will start to fall into disarray and things will need maintaining.

Before you do, make sure you do a bit of research. Aside from fixing problems, changing your home can alter the value of your property.

Just because you can, doesn’t mean you should. It might not save you money straight away, but down the line, you could be doing your home a disservice.

New Homeowner; New You

Ah, home sweet home. There’s nothing quite like being a new homeowner.

But do be wary of how much money you’re wasting by not following the above tips. Remember: you’ve already spent so much on your property, you don’t want to make a habit of it.

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