For most people, buying a new home is the largest investment they will ever make.
Once they move in, many are surprised at the day to day costs of running a household.
From the utility bills to the home insurance premiums, there always seems to be new way to spend money. But by establishing good habits from the start, you will find that you can save money in many different ways.
If you are having a custom home built, be sure to ask your builder to incorporate some of these ideas into the construction.
Tips on How to Save Money
- Design Efficiency: When building a new home, the contractor will be sure to meet building codes as a minimum. Implementing the extra measure of installing the most energy efficient windows and appliances may cost you a bit more upfront, but will save you hundreds of dollars annually, year after year.
Ask the experts about the best energy efficient solutions you can integrate into your custom home.
- Thermostat Timer: One of the largest monthly expenditures in South Florida can be the utility bills, especially the electricity.
Because Sarasota area homeowners basically run the air conditioner non-stop, the bills can quickly add up. A programmable thermostat allows you to automatically adjust the temperature, allowing the home to be a bit warmer when you are at work, and begin to cool back down when you are due to return.
Setting up a monthly reminder to change filters is also a great way to keep your air conditioner running at optimum performance.
- Organize from the Beginning: New homes give us the opportunity to begin again. Use this opportunity to set up some new habits which save money without too much effort.
For instance, begin to stock your new refrigerator in such a way that foods more likely to spoil are kept within sight, while condiments or less perishable items remain towards the back.
Many consumers report that they waste money monthly by having to throw out food, so utilize the new refrigerator to start a new way to save food.
- Don’t Neglect Preventative Maintenance: Although the little charges seem never ending, they are much easier to deal with than an unexpected huge expense.
The roof is a great example.
Many homeowners never really think about their roof year after year, and few think about annual roof inspections. But as water intrusion can be in your walls and eaves unnoticed for quite some time, the structural and electrical repairs may be extensive by the time you catch the problem.
Small maintenance costs are the perfect prevention against large scale repair bills.
- Revisit Your Insurance: Home insurance premiums are based on many factors, and many homeowners have not taken all the discounts available to them. If you have done any renovations (such as new impact windows, hurricane shutters, or a new roof) be sure to ask your agent if there are any program you qualify for – and don’t be afraid to shop around.
- Make Extra Payments: The first several years of your mortgage payment tend to only pay down the interest on your loan, not the principal.
By making extra principal payments on the front end of your loan, you reduce the overall payback amount and can significantly shorten the life of your loan.
If you are building a new home in the Longboat Key or Sarasota area, don’t forget to ask your builder about incorporating energy efficient, money saving tips. Lindahl Construction can help you to start off your new adventure with a plan to save money, and enjoy life in your new house for many years to come.