Ways to Save on Home Ownership

Real Estate Agent with Morrie Mages Property

Americans are fighting a two-front war, one against this pandemic and another against an economic collapse. Social distancing is winning, but Congress has failed to pass temporary economic relief, such as UBI (universal basic income), so it's up to homeowners to take action to save on home ownership, which they can do in some of the following ways.

Cut Unnecessary Costs

You will need to make smart decisions, and that means cutting bills you don't need to pay. Everyone is at home and using streaming services to entertain themselves, but the reality is you don't need a lot of them. There are even some free streaming services out there that you can enjoy.

It might be time to cut home phones and maybe even voice plans and opt for a data plan and use wi-fi calling. If you are paying for cable, make sure you cut that bill as soon as you can. What you can do is make a list of the things you need to live (things you would die without) versus everything else.

Consider Bundling

Okay, there are some necessary bills you have to take care of as a homeowner, but that doesn't mean you can't do anything to save. A few bills you might be able to get a deal on are your car and home insurance policies. The thing is that insurance companies do offer insurance bundling, which usually comes with a few discounts.

On top of that, there's a lot of insurance companies and other types of companies offering discounts right now to help alleviate some of the economic distress affecting Americans across the nation. It might not be something you're comfortable with, but you should consider inquiring if there's something you qualify for that'll help you save.

Handle Repairs

All homeowners have to worry about repairs, but that means something else right now. You don't want anyone coming to your home to minimize risk and keep your family safe. The best thing you can do is try to learn how to take care of your repairs.

Now, this doesn't mean fixing something dangerous, like your wiring or working on your roof if you have mobility issues, but there are some light issues you can take care of. You can fix a door, replace faucets if they need replacing, deal with clogged drains, change HVAC filters, and other similar projects. Divide some of the work you have to do among other family members if they are particularly good at something to keep costs under control.

Reconsider Energy

Everyone needs energy, but there are different things you can do to save right now. For example, if you live in an area that allows you to choose your energy provider, then you can find a provider that'll offer a better price. Those who can get wind or solar energy provided to you could reduce your carbon footprint and save money as well.

If you are willing and can make this kind of investment, you can invest in solar-powered water heaters and other solar-powered appliances. Maybe you can invest in small appliances that rely on human power, such as hand-crank food processors and other similar options. It may be strange, but it'll end up saving you money, and you get to exercise at home.

DIY Living

As a homeowner, you are going to have to worry about replacing some stuff at home at some point. Maybe your couch is simply too old or maybe your dining table is falling apart. Normally, you would simply go to the store and get whatever you need, but that's become a little more difficult to do nowadays.

It may be time to consider building your own. Yes, you can turn on that creative spirit inside of you now that you've got the time. Make your own tables, couch, or whatever it is you need. You might have to learn how to do a few things online, and it may take some time to feel comfortable making your own stuff, but it's a skill worth learning. Maybe this could become a side gig because you know that handmade stuff is always in demand.

These are just some things you can consider doing as a homeowner to save during these uncertain times, but there's a lot more you can do, like finding mortgage relief. You and the rest of the world are going to overcome this pandemic, but it'll be something people do together.

Comments (0)