Money

5 Simple Things a New Homeowner Can Do to Save Money

Your million Rand signature is on that line and you have finally closed the negotiations.

Congratulations! You are officially a homeowner.

All that is left to do now is unpack the moving boxes, sit back on your veranda and enjoy the surroundings of your new neighborhood.

But what does the future hold? It is something that we can never predict.

It is important that you don’t lose sight of your savings plan. You have probably been saving up for years to purchase the house, so don’t stop now!

Here are a few things you can do to save a few cents here and there:

Tip #1 – Know the location of your main water shutoff valve

You should locate the main water shutoff valve on the day that you move in.

Water damage is a nasty business and it is one of the most common household insurance claims.

It only takes one broken pipe for your house to become a pool.

Before disaster strikes, make sure that everyone in the house knows where this main water shutoff valve is so that you can protect your drywall, flooring, and valuables in the event of a water damage.

Tip #2 – Install energy-efficient light bulbs

Many new homes are sold with cheap inefficient light bulbs in their sockets.

You can save even more on energy by replacing incandescent light bulbs with LED bulbs.

It works great if you install them in places where lights are left on for long periods of time or accidentally, like in the kitchen or the basement.

They might be a bit of an investment up front and you might have to give up a weekend to replace them, but in the long run, you’ll be happy that you did it!

Tip #3 – Lower the temperature of your hot water heater

Lowering the temperature on your hot water heater is a simple and easy way to save on your utility bill every month. The optimum temperature for hot water is 55 degrees Celsius. Anything hotter than this is unnecessary because it can burn the skin.

The energy used to keep the water above this temperature is wasted and it reflects badly on your financials.

Lowering the temperature can really help take the pressure off at the end of the month.

Tip #4 – Install ceiling fans

Air conditioners are great during the summer but unfortunately, they are expensive if you install one in every room in your home – not to mention the bill at the end of the month.

Ceiling fans are an affordable way to circulate air through the house.

You can maximize the efficiency of your ceiling fan by switching them to blow air on your during the summer and be pulled away from your during the winter.

This simple trick enables you to keep your thermostat higher in the summer and lower in the winter which saves you energy costs every season.

Tip #5 – Plant shade trees

We really to take our gardens for granted and if you are lucky enough to have bought a home with a huge yard, then you can easily plant shade trees.

If you plant trees along the perimeter of your home, its green leaves will shade you in the summer, keeping the house cool. When they lose their leaves in the winter, they will allow the sun to seep through and warm the house a bit.

Investing in these trees will cost you a small amount and some hard work in the beginning, but it will give you free temperature regulation throughout the year.

Saving money after buying a home is tricky, but with these easy tips, you should be able to worry a bit less about your financials.

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