Homeownership can get expensive, especially as first-time buyers navigate the summer months. Not only are homeowners responsible for the maintenance and upkeep of their property, but also bills, insurance fees, property taxes, and even HOA fees, in some cases. And as the summer heat drives up your bills and your home requires more maintenance, learn how you can reduce some of these homeowner costs with the following tips.
Keep It Cool
One of the biggest holes in homeowners’ pockets is their energy bill. And we all know what a Texas summer looks like: hot, hot, hot! Homeowners should do their best to utilize ceiling fans and natural breezes over dropping their thermostat to 68 degrees and hoping for the best. Additionally, many homeowners are looking for more energy-efficient upgrades to their homes, i.e., a smart thermostat that can help reduce costs but still keep homes cool.
Refinance Your Mortgage
Mortgage rates are rising. Many homeowners negotiated their mortgage rates prior to the current state of the market and might be able to save significantly more money if they considered refinancing. So, the question you might be asking yourself is: how do I know if it’s time to refinance? The general rule of thumb is that if you can reduce your interest rate by at least 2%, it’s time to refinance. There are numerous other reasons to refinance your mortgage, so ensure you have considered all your options.
DIY Home Improvement
Whether you are looking to renovate your dream kitchen or upscale your home to add value for the next buyer, home improvement projects can get expensive very quickly. Whether you consider yourself handy or not, you can easily tackle some of the more minor home improvement projects on your own. Another easy way to save on renovation costs is by buying the materials yourself. This can save you from enormous upcharges and even offer cash-back benefits if you use your credit card.
There’s no denying that homeownership has become expensive. But it doesn’t need to be. You can easily reduce homeowner costs this summer by implementing the tips above! If buying or selling a home is one of your dreams this summer, email me at krista@bloomrealtytx.com or contact me here.
