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Smart Money Moves to Make as a New Homeowner

Posted: September 15, 2020 at 8:21 am   /   by   /   comments (0)

Buying a home is likely the largest purchase you’ll make in your life. Once you are standing in your home surrounded by moving boxes, you’ll start envisioning your future life and listing out projects you want to tackle. Soon, the new responsibilities of homeownership will start to sink in. As soon as you move in, it’s time to start finding ways to save money on your home. From maintenance and repair costs to getting a handle on utility bills, there are several smart money moves you should make as a new homeowner.

Photo by Joanna Bogacz from Pexels

1. Start an emergency repair fund.

Transitioning from being a renter to a homeowner means becoming responsible for routine maintenance and repairs. Over the years you will need to make home repairs and replace appliances. Even with annual maintenance things break down that require repairs. Prepare for your future maintenance and repair costs by starting an emergency repair fund. Saving a little at a time will keep you from going into debt when repairs come up.

2. Find the best rate for electricity.

You shop around several homes before buying, so why not shop your energy provider options? Moneygains helps homeowners in Northern Ireland compare electricity prices, switch providers, and save on their monthly bills. The free independent comparison service tailors your results based on your needs, meter type, level of electricity usage, payment method, and payment frequency. Compare electricity ni to see how you can save on your monthly energy bill. You may find out that you’re paying a high rate for no reason! Let Moneygains find you significant savings.

3. Install a programmable thermostat.

A programmable thermostat is easy to install, easy to use, and a great way to save money heating and cooling your home. Lowering the temperature of your home a few degrees when you are at work and before bed will make a noticeable difference in your utility bill. Simply program the thermostat around your daily routine and the temperature will increase and decrease efficiently to keep your home comfortable.

4. Take your time with home improvement projects.

Becoming a new homeowner is exciting and you likely have a lot of projects that you want to start on. When it comes to home improvement projects there’s no rush to tackle everything right away. Give yourself time to adjust to your new living situation and ease into your new financial reality. Keep a running list of projects you want to do around the house and order them according to priority and cost.

The kitchen is the heart of the home and one of the most used rooms in your home. Outlet Sale is an exclusive online store offering high-end quality European kitchenware without the high-end prices. You can find cookware, bakeware, and kitchen accessories from Berlinger Haus and Blaumann in modern, colorful styles that are eco-friendly and ergonomic.

Outlet Sale offers free shipping and returns on all orders within the United States and customers who subscribe to their newsletter can save an extra 10 percent off their orders. You don’t have to save for months to outfit your kitchen with high-end quality items, simply shop online to get the best possible price on top European brands.

5. Lower the temperature of your hot water heater.

The higher the temperature of your hot water heater, the higher your energy bill. The average household doesn’t use water hotter than 120 degrees Fahrenheit. Any water that’s hotter than 120 degrees Fahrenheit or 55 degrees Celsius can be dangerous and risk scalding. Lowering the temperature of your hot water heater to 120 degrees Fahrenheit will help you save money on your energy bill.

It’s also a good idea to put a water heater blanket over your hot water heater to keep it insulated. Most modern water heaters are well-insulated, but older water heaters may not be insulated at all. You can wrap a blanket around your hot water heater so long as the heater’s top, bottom, thermostat, or burner compartments aren’t covered.

The more you get used to your home, the more you will find ways to save money on it. Start with these smart money moves as a new homeowner and discover how much you can save.

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