The expenses of owning a home just keep piling up. In addition to all the fixed expenses homeowners face, variable costs keep rearing their ugly heads at the worst possible times, like the broken water heater 2 days before Christmas. In these tough economic times, homeowners are ever looking for ways to save money without cutting corners to save a dime. There are definitely ways to do this so let’s look at a few strategies to save that money.
Homeowners insurance
The first thing any money-saving savvy homeowner should look at is how much they’re paying for their homeowner’s insurance. Homeowners insurance is a necessary evil that must be purchased to insure against catastrophes, but that doesn’t mean you can’t get a good deal and save money.
There are many ways to save money on homeowners insurance premiums..like raising your deductible, combining your home and auto policies, installing security systems, and even maintaining a great credit score can all help save lots of money. And don’t forget to review your policy at least once a year. The price of items in your home may change (5-year-old computer?!), as well as the fact that you might get rid of things throughout the year, this might decrease your overall liability.
Maintenance
When it comes to saving money on your home, it’s almost counterintuitive to spend money on maintenance, but the fact of the matter is if you ignore maintaining your home you will end up spending much more in the long run due to major problems that could’ve been avoided. Homeowners in general know what needs to be done around their home. If you’ve got things on your to-do list, please don’t wait! Spending a little money now will save you lots of money in the long run.
Taxes
Being a homeowner allows for many highly coveted tax deductions. Homeowners should use an accountant to perform their taxes. Doing your tax returns on your own can cost you money because you might not catch every deductible you can. This is especially applicable if you’re doing home improvements or selling homes. Increasing the value of your home drastically can be a very large deductible on a tax return so hire someone to take advantage of all these deductions for you. A trusted accountant is definitely the way to go.
Green energy savings
On a final note for today, there’s much to be done around the home to conserve energy. You don’t have to go as far as installing a renewable energy source like solar panels to take advantage of green technology. Doing things like insulating pipes and water heaters can save a tremendous amount of money on utilities. Investing in a smart thermostat, one that can be programmed to regulate temperature via smartphone or other technology, is also be a very good investment.
Other simple things which are a small investment upfront, but can lead to huge cost savings, are things like ceiling fans. Ceiling fans can cool rooms in the summer and heat them in the winner simply by switching the direction. Conserving energy in the home is a marvelous way to save cash in the wallet. There are plenty of other ways to save money as a homeowner. Take a look at how you’re spending your money and be creative in strategizing ways to decrease those costs.
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