How To Stop Your Home From Becoming A Money Pit

How to stop your home from becoming a money pit.

Running a home is always going to be expensive but is yours costing you too much? A badly maintained home can quickly become a money pit without you even realizing. You’ll end up spending way more than you need to on running the house and keeping it in good shape.

Over the years, you could be wasting massive amounts of money for no good reasons. Luckily, most of the issues that waste money around the home can be easily fixed. These are some of the ways that your home could be costing you money and what you can do about it.

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Heating Costs

How to stop your home from becoming a money pit.

Unless you want to spend the winters huddled up in a blanket, freezing cold, you’re going to have to pay heating bills. But if your home isn’t energy-efficient, you’re probably paying a lot more than you need to. If the house doesn’t hold heat properly, it’ll take longer to warm up and you’ll have to have the heat on constantly if you want it to stay warm. A well insulated house will warm up quickly and retain that heat for a while if you switch the heat off. There are a couple of reasons why this could be happening. The first is bad plumbing. If the radiators in the house aren’t efficient, you’ll have to leave the heat on for hours before you notice any difference and that’s costing you money. It’s worth getting the plumbing checked every once in a while and draining the radiators if they aren’t working well.

If the radiators are in good working order but heating the house is still a pain, it’s probably an issue with insulation. There are some quick fixes like putting draft stoppers under the doors to stop the heat from getting out. Sometimes that’s not enough, particularly in an older house. Windows are a massive source of heat loss, especially if they’re wooden framed, single glazed ones. If you don’t already have modern ones in the house, energy efficient home window installation makes such a huge difference. They’ll keep the heat in a lot better and you’ll notice a big drop in your energy bills in no time. If you’re still having trouble once the windows have been replaced, you might have to put more insulation in the walls. It’s an expensive and fairly invasive job but it’ll save you a lot of money in heating bills over the years so it’s a worthwhile investment.

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Electricity Usage

There are a lot of ways to cut back on electricity usage quite easily. Switching lights off when you’re not in the room and not leaving things on standby etc. will make a bit of difference. But sometimes, your electricity bills are way too high because the things that you do need to use aren’t very efficient. Appliances are one of the biggest culprits here. An old refrigerator or washing machine uses so much more electricity than a new one. If you update them, you’ll notice a big difference.

A lack of natural light can cause problems too. If you don’t get much natural light into the house at all, you’re always relying on the lights and that’s going to cost you. If you can take steps to get more natural light into the home, you won’t be so reliant on artificial light during the day and that will help you to cut your energy bills by quite a bit. Adding more windows where possible, making sure that furniture doesn’t block light sources, and using well-placed mirrors are all great ways to do it.

Insurance

It’s important to have contents insurance on the home in case of a break in. You don’t want to be stuck paying to replace everything that was taken. But the cost of home insurance is dependent on a few different things and sometimes, you might be paying more than you need to be. The location of the house is a big factor and you can’t do anything about that. If you live in an area with a high crime rate, expect to pay more. But they’ll also base their price on how secure your home is, and you can do something about that. If you install a few security cameras and a security light, upgrade the locks on the doors and windows to something more robust, and make sure the gates to the garden are secured properly, you can cut your insurance bill by quite a bit. It’ll also massively reduce the chance of a break-in in the first place.

You might also like: How To Create A Green Home

Car insurance is something to consider as well. If your car is parked outside the house in a place that isn’t very secure, you’ll pay more. But if you keep it in the garage then your bill will drop by quite a bit. A lot of people end up keeping the car outside because the garage is filled with junk. If you’re the same, clear it out and put the car in there instead.

 

Repairs

Adding an addition to your home.

 

 

This is a big one and there are a couple of reasons for it. First off, it’s important that you have a proper survey done before you buy a house. That will pick up on any problems that are likely to keep coming back time and time again and cost you a lot of money in repairs. If you’ve already moved into the house and it’s too late, regular maintenance is key. Most expensive home repairs could be avoided if action was taken earlier. It’s a bit tricky because people tend to put problems off because they think they’re saving time and money. It’ll come back to bite you when the problem gets too large to ignore and you have to pay for large-scale repairs. As soon as you notice an issue, get it fixed right away. The small fix won’t cost you that much and it should stop it from developing into something more expensive.

How to stop your home from becoming a money pit.

If you make these changes around the home, you can stop it from turning into a money pit.

Written by: Devon

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