Ways to Save Money as a New Homeowner

As a new homeowner, you’re likely just getting into the swing of having a mortgage payment to make. Despite the house being a great investment and a respectable achievement, you might find that you’d like to rework your budget to accommodate your new financial situation. Many homeowners go through this period of adjustment when they’ve recently purchased a home, so you’re not alone. Here are several ways to save money as a new homeowner.

Take care of your hot water heater right away. Check the temperature, and if it is higher than 120 degrees, turn it down. Most of the time, homes don’t need water that gets hotter than this coming out of their faucets. In addition, you can wrap or place a water heater blanket over your hot water heater to reduce energy usage and save you money on your utility bills. You can wrap any exposed pipes that you see as well for another push in the right direction.

Have a look at your home’s airways. Check the filters in your air conditioning unit, and if it isn’t new, it needs to be replaced. Inspect your vents for any signs of obstruction or dust and clean up if necessary. It’s important to note that your home might have airways you’re not aware of that are costing you money. Look at your windows and doors to ensure they’re properly sealed so that your hot or cool air isn’t escaping outdoors.

While you’re checking your home’s condition, check your pipes for possible leaks you didn’t notice when you moved in. Have leaks repaired, not only to save you money on your utilities, but to prevent water damage to your property.

Check your insulation. If you have an attic, look around and make sure that there aren’t any spaces where the insulation is thin or missing. Look at any other accessible parts of your home to see if there are any trouble areas. This is especially important when it comes to examining your roof. A properly insulated home uses less electricity to maintain a comfortable temperature.

It can be a challenge getting accustomed to being a homeowner, but if you keep an eye out for issues so that your home is in its best condition, you can save yourself money while you’re building equity.

Let my team at Keystone Realtors® meet all your real estate needs. I have over 16 years of experience in buying and selling in the Santa Clara and San Mateo County areas, specializing in the high-end, luxury market. Visit our website at https://www.paulphangureh.com/ for listings and information. You can contact me at 650-924-2544, or email at paul@paulphangureh.com.

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