Sure, you know when you own or buy a home that it is going to cost you money. You have the mortgage payment, insurance, utility bills and more. While most of these are expected expenses, what about the unexpected costs of home ownership? Or the costs, although expected, that are higher than you thought they would be?
One of the main wallet-draining culprits is energy, including heating and cooling, electricity and leaks. Find out what you can do to cut back on your spending in these areas, so your home does not cost you more than it should:
Heating and Cooling
About 50 percent of your energy costs are for heating and cooling your home, according to the U.S. Department of Energy. One of the primary ways to keep these costs under control is to maintain a constant temperature. You can accomplish this in one of two ways:
- Set it and forget it. Set your thermostat to a specific temperature and leave it alone. Instead of making adjustments when you’re cool or warm, throw on a sweater or blanket to keep you from catching a chill, and keep the clothing light or use fans when it’s warm.
- Make it automatic. Install a programmable thermostat to automatically control the temperature settings in your home. The U.S. Department of Energy estimates savings at $180 per year by installing and properly using one of these devices.
Electricity
The second biggest energy cost is lighting. There are several ways to cut down on your lighting costs without requiring that you sit in the dark:
- Motion-sensors: Installing motion lights in the areas of your home where you tend to leave lights on – outside the garage door, on the front porch and in hallways – is one of the best ways to control electricity costs.
- Go back to basics: When you are not in a room, turn the lights off. When you are not using your computer, turn it off. When you are not watching television, turn it off. If you want to really kill the energy-sucking vampires, use power strips with on/off switches that completely power down electronics when not in use. Or, unplug items when you’re not using them so they don’t draw unnecessary electricity.
- Go green: For a fast reduction in energy costs, switch out your regular light bulbs for energy-efficient ones. You can save more than $40 on your electricity bill over the life of the bulb, use 75 percent less energy and the bulb will last up to 10 times longer, according to Energy Star.
Leaks
You can save up to 20 percent on your heating and cooling costs by properly sealing and insulating your home, according to Energy Star. That equates to up to 10 percent of your total annual energy bill! To protect your home from energy leaks, you’ll want to:
- Seal: Check and seal leaks around doors and windows that lead to the outside world. Caulk or seal cracks around your fireplace. Inspect the ducts that connect to the heating and cooling unit in your home. Seal and insulate ducts to increase the efficiency of the unit and reduce your energy costs. Even if you’re not a seasoned handyman, you can seal off your home yourself.
- Insulate: Proper insulation keeps your home cool in the summer and warm in the winter, and should be looked at in conjunction with sealing your home to save as much as possible on your energy bill. The amount of insulation and type of insulation often depends on where you live and what type of climate your home is exposed to. Find out what’s appropriate for your area and for a quick energy (and money) saver, take a trip to your attic (if you have one). If your insulation is at or below your attic floor joists, you probably need to add more insulation.
As a homeowner, you know there are costs associated with owning and maintaining the home. But there are ways to keep these costs down if you’re careful. Take a few steps today to make sure your home is where the heart is, not where the expenses are.
For more money-saving tips and tools, visit Quizzle.com, where you’ll find out how you can save on your largest monthly expense – your home loan.
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Don’t forget you can also save substantial money by checking your energy provider is the one with the best deal. Comparing rates online is easy, so is switching provider.