The Amateur Financier

(Welcome to yet another great guest post here on the Amateur Financier.  This week, we’re looking at how to assess the costs of your home, and how to cut down on those costs.  Read on for advice on how to save!)

There are two ways to look at your home. You can love the fact that you are a homeowner and own a piece of real estate or you can look at the house as a sponge that is absorbing your cash each and every month.

For most people it is probably a combination of the two. Sometimes you love it and sometimes you get frustrated by the cost.

Refinancing and lowering your energy payments is an acceptable way to cut costs but it is probably just a short term solution. A more long term strategy would be to make sure that both you and your home are energy efficient. However, switching providers is a good start so you may want to begin by checking out a comparison site such as money supermarket to get the latest interest rates and online loan offers.

Energy and utilities are one of the biggest expenses a homeowner can face outside of the actual mortgage payment and property taxes. Electricity, gas and water are necessities that you can’t live without.

So is there a way to make your home energy efficient and save yourself some of the cost?

Assessing your home for energy efficiency can cut some of those monthly costs and put a little more money in your pocket. Take the assessment one step further and look at the cost of your bills and find ways to manage them more affordably.

Start with a phone call to your utility provider. Many companies offer to send out an energy efficiency expert to your home. They will look around and check certain places in the home to find out if there is a better way to conserve energy.

The electric or gas company can check out your doors or windows to make sure that the air you are cooling or heating isn’t escaping out. They check the seals and find places where you can make improvements.

Some will recommend certain types of windows that will help you keep the temperature in your home consistent, lowering your utility payment.

Consider calling your utility companies to search for any rebates offered for purchasing replacement parts or new equipment for your home. These rebates can be offered through the company or through a federal tax program.

While there will be an upfront cost and the rebate won’t cover the entire amount, the savings can last for years to come.

Check to make sure that your appliances are energy efficient. As you walk around the house check your refrigerator, water heater and even the air conditioning unit to make sure that they are marked “energy efficient”. If you are planning to replace any of the appliances in the near future, shop only for those guaranteed to use energy efficiently.

Part of conserving energy and saving on the cost of operating your home comes from developing smart habits.

While you may not think it is a big deal to cut the lights off in your house before leaving, it does save you money overall. Setting the thermostat in your home to a consistent temperature without varying the air and heat to extremes will save you money.

Some people only leave appliances that are in constant use plugged up. Everything else is unplugged and stored until it is needed. You aren’t going to notice a $50 drop in your bills, but again, over time you will notice small changes.

Check for programs in your local area that encourage customers to save money on their energy costs. Depending on the climate where you live the electric or gas companies can offer a discount program for customers that only use the energy during a certain part of the day. Seek out these programs to find out if you are eligible for the savings.