Tips On Saving Money When Owning A Home

Tips On Saving Money When Owning A Home

Owning your own home is one of the most exciting times in your life, but it can also be one of the most expensive times too. There’s the deposit, the monthly mortgage, the furniture and don’t forget about food and bills. Unfortunately, this is just the financial icing on the cake, because if anything goes wrong in your newly bought home, it’s no longer the responsibility of the landlord or real estate agency to get it repaired and paid for, it’s all on you.

It’s not all doom and gloom though, there are several ways you can save money and avoid household disasters, that you might not have thought of. Here are a few handy tips to help you spend less, and save money when owning your own home.

Check For Water and Gas Leaks

Most houses in Melbourne were built decades ago, and so the water and gas pipes may not be in the best condition. A water leak, whether it be from a dripping tap, or a more sinister leak hidden behind your walls, can end up costing a fortune not just in water bills. Water leaking through the foundations of your home can cause wood rot and mould, which will cost a lot more to repair than a broken or cracked pipe.

To avoid expensive repair work, contact the best plumber Melbourne has to offer that will service your area, to perform water leak tests in your home. They’ll be able to locate any hidden water or gas leaks, giving you peace of mind, and the guarantee of no nasty problems or surprises down the track. Expert plumbing companies can check the state of the pipes before you move in, after you’ve moved in, or before you begin renovations, so it is worth contacting one as soon as possible.

Re-arrange Your Budget

Time to face facts, you can’t spend like you used to. When you become a homeowner it’s time to sit down and recalculate that budget. Look for ways of reducing your expenditure in every way possible, even down to the food brands you buy, and the type of toothpaste you use; there is always a cheaper version.

To save on petrol costs, consider using public transport or carpooling to work with colleagues. Look for ways to have fun that don’t cost money, such as bushwalking, trips to the beach and the park. For a fresh take on date night, try recreating the food from your favourite restaurants at home, or put together a romantic picnic somewhere special. There are ways to save money and still have fun when you own a home, you just have to get a little creative.

Seal Your House

Resealing your windows and doors can save you a small fortune in heating and cooling bills throughout the year. You would be surprised how much air can enter, and escape your house through broken window seals, and under doorways. Make sure to use the appropriate products and materials to seal the different areas of your home, taking into consideration water and weather proofing for indoors and outdoors. For cheap options, look at the range of draft stoppers online or at your local hardware store. These simple, yet genius inventions can save you a fortune on heating and cooling your home.

Compare Energy Companies

This tip doesn’t just apply to electricity and gas, but for your internet and phone companies as well.                                                                                                                                                                                                                                            Do some homework and compare the major energy supplier’s rates and deals. You might be able to secure a discount by switching all of your bills to one company. Also remember to check your eligibility for concessions.

Save Energy

There are things you can do to reduce the amount of energy your house consumes, that are worth the thought and the investment. Switching your globes from halogen to LED will save you a fortune each year in energy costs, as they last the longest (whilst still producing sufficient wattage), and are the cheapest to run.

You can also harness the power of the sun by investing in solar panels, batteries, solar inverters, and sky lights. It may be a bit costly to have it all installed, but will be worth a lifetime of reduced energy bills. The addition of skylights to your home will provide stunning natural lighting throughout, reducing your carbon footprint and lowering your electricity bill.

Get Creative and Save

Owning your own home doesn’t have to be a financial nightmare, in fact you can save money if you look for ways to reduce your everyday living expenses. There are hundreds of ways to save if you look around and get creative. By staying on top of house repairs, watching your daily spending, turning off devices, and investing in long-term energy savers, you can ensure your cost of living is kept to a minimum, without sacrificing all of life’s luxuries.

John Norwood
John Norwood is best known as a technology journalist, currently at Ziddu where he focuses on tech startups, companies, and products.