Home ownership comes with a great deal of costs that many people fail to consider. When you first start looking for a home, you can quickly get carried away searching for the features you want, or finding a house with just the right look. Too few people consider the costs of living that their choice of home may bring.
Older homes can come with an increase in heating bills, as their insulation and plumbing may be degraded, or out of date. Larger homes will also come with an increase in heating bills, as well as property taxes, but some people don’t also consider the increase in home insurance that having a larger home can incur. Here are three simple ways to save money when you own a home, no matter what size, age or type of property you live in.
Shop Around for Energy Suppliers
The home energy market has become incredibly competitive over the last few years, and not enough people are taking advantage of the great deals that are out there. Many energy suppliers will offer cash incentives for switching to their supply, with long-term fixed rate energy prices. If you have been with your current supplier for a number of years, you may not be subject to any exit fees for making a switch, but do check with your current energy supplier first. Some people will switch their supplier once a year, regularly cashing in on incentives and bonuses and helping their energy bills pay for themselves.
Get Home Emergency and Boiler Cover
A great way for a homeowner to protect themselves from sudden and unexpected costs is to get boiler cover, and other home emergency cover. Your home’s hot water boiler is one of your home’s most valuable, but overlooked features. We will often take heating and hot water for granted up until the moment it no longer works. Companies like Certi offer great value boiler cover, and cover for other home emergencies like drainage problems, plumbing issues or electrical failure. This is definitely something worth investing in, as you never know when a problem might arise.
Find the Right Home Insurance for You
Many people don’t have the right home insurance for their needs. Some rely solely on home insurance that may be tied to their mortgage or bank account, but this often underserves their needs. Adequate home insurance is important, especially your home contents insurance. Many homes will now have a number of expensive items inside, such as flat screen televisions, personal computers, and expensive kitchen or gym equipment. Find the right insurance for your home, and its contents, and you may save money on your premiums and have the right cover, if you need it.
Owning a home is incredibly rewarding, but it does come with a lot of bills. If we can take more control of the costs of home ownership, we can save thousands over the years that we live there. The money saved can help pay for home improvements to further capitalise on our investment. Hopefully these three steps will help you make some significant savings.