10 Ways to Reduce Running Costs in your Home

It’s important to start your new financial year off on the right foot! Whether you’re an owner occupier or investor, thinking of small ways to reduce your home running cost and create good money habits is essential for any homeowner.

This financial year stay on top of your maintenance work around your home to reduce your overall running costs. Here are 10 easy ways to reduce your home’s running costs to ensure you’re saving more money long term – all the little things add up!

1. Set Time Aside

We get it, life is busy! Get your calendar out and designate time in your schedule to attend to the maintenance jobs around your home. It doesn’t have to be a whole day thing, but tackling these tasks slowly but surely and staying on top of them will reduce costs in the long run.

2. Stay in your lane

As much as some of us like to believe that we’re the Jack of all trades, remember you don’t have to do everything on your own. Sometimes for the best results, it’s worth hiring a professional originally to ensure that a small problem doesn’t become a big one in the long run.

3. Drip, drip, drip

That’s not the tap or loo leaking, that’s money leaving your bank account! Thirty drips a minute can equate to one thousand litres a year. Get those taps or the leaking toilet fixed!

4. Have efficient hot water

Old hot water heaters are inefficient and expensive to run and will have you waiting for ages for a hot shower. Replacing them isn’t cheap, but water utility companies often have options to add them to your quarterly bills and pay them off over time. A new model will save you up to 50% on water heating costs so is worth the investment. 

5. Pest Control

When was the last time you had a pest inspection? These are usually conducted when buying a home. But if you’ve not checked for termites for the past decade, then you should. They can cause substantial structural damage to wooden beams and foundations. Watch out for bubbling paint, wood that has gone soft and mud tubes. If you tap a suspect beam and it sounds hollow, that’s not good.

6. Light-bulb moment

Love your house being bright but don’t love your ever-growing electricity bill? Well, you could save even more money by replacing old-school, incandescent bulbs with modern LEDs and halogens. It’s environmentally responsible, and your bank account will appreciate it, too. Electricity companies and councils may have a checking service. 

7. Double-down on drafts

 If you can feel a draft in your home, then there’s a problem. Seal crevices and cracks around the house so that you don’t let the cold air inside. Walk around your home to detect any issues and pay special attention to window and door seals. Most problems can be fixed cheaply, often with a caulking gun and silicon.

8. Through the Roof

Heating escaping through a poorly insulated roof is an expensive problem. It’s fixed by installing insulation batts in the roof cavity. It also gets hot up there during the summer, and that makes it a challenge to keep your home cool. Hire a professional to check the quality and placement the insulation batts – it will pay off in the long run!

9. Aircons love a clean filter

A super easy way to reduce your home’s running cost! When you have a dirty air-conditioning filter, the unit will pull more power to meet the cooling temperature that you’ve set. And that will burn additional electricity – and dollars. Clean or replace the filter regularly. Make sure you read the manufacturer’s instructions before cleaning, as filters can be delicate.

10. We’re a big fan

Did you think ceiling fans were just for summer? If you climb a ladder and look at the stem of your fans, you’ll find a summer and winter setting. The winter one will reverse the rotation and push hot air back down towards you, ensuring you get all the warmth available and you are not wasting money on heat that sits on the ceiling.

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