Q: How Can I Save Money as a Homeowner?

Recently I spoke with some of our homeowner clients—they don’t plan to sell anytime soon, but they wanted to know what they could do to save money. Here are few tips:

1. Reach out to your insurance company. Most people get that initial insurance policy and stick with it for a couple years. I’d suggest reaching out to either that company or another and start to shop around for rates to see if you’re currently getting the best deal. You might find yourself saving hundreds of dollars a year.
2. Apply for the homestead exemption. Check with your township to see if these exemptions are available to you. We try to inform our clients to do this before the application period is up, which lasts from the end of December up until March. A homestead exemption can reduce the amount you pay in property taxes each year.
3. Get a home warranty. I know this seems like an expense, but a home warranty can help cut costs when it comes to replacing or repairing appliances, your roof, and other things around the home. For just a couple hundred dollars a year, you can make sure that your home is protected.
4. Get a home inspection once every five or six years. Doing so will alert you to any repairs that may become necessary before they worsen, which could save you money when it comes time to tackle them.

Hopefully, these tips gave you a few ideas on how to save money as a homeowner! If you have any other questions about homeownership, please reach out to us. We’d love to provide our list of resources that you can take advantage of for all your home needs.