Being a homeowner is wonderfully freeing. You no longer have to abide by the whims of a landlord when you decide to hang shelves, redo the tile in your bathroom, or put in a new kitchen sink. If you want to build a shed in the backyard, you can just do it, no questions asked. The same goes for painting, installing new appliances, and the rest of it.
The bad news is, of course, that you also have to pay for all of those pleasures. No one will be sending a handyman over to fix anything for you, and no one will be covering any utility bills either. If you just became a homeowner, you may be wondering how to save some dollars on electric bills so that you can start to pay for the renovations that are more fun. If this sounds like you, read on for helpful tips.
Research energy rates and energy providers.
You may not know this, especially if you’re a new homeowner, but you can actually choose your energy supplier based on various criteria like electric rates per kWh (kilowatt-hour), whether you’re interested in renewable energy, and how the energy market looks in your area of the U.S. In this way, you can actually save a lot of money on electric service and you can even make sure that you’re getting energy from renewable sources if that’s important to you. It’s not even hard. You just need to go online and compare electricity providers for residential customers (or business customers, if you work from home) and choose a new plan if you want. You can search by zip code and you’ll be able to find out all about electric providers in your area.
Get energy-efficient appliances.
If you’re not interested in researching energy plans, an easy way to lower your energy usage, thus saving money, is to switch out old appliances, like dishwashers, refrigerators, and washers, for energy-efficient ones. Look for appliances that have an Energy Star sticker on them. Those are the ones with the most reliability when it comes to lower energy usage. You’ll see the impact on your energy bill right away when your usage goes down.
Insulation is key to saving on electric bills.
Another easy way to save on your electric bills is to make sure that your home is properly insulated. Even if your electric rates per kWh are extremely low, you’ll still be seeing high electric bills as long as your home is losing hot or cold air. After all, if you live in Manhattan, you’re not trying to heat (or cool) all of New York, are you?
This may take some renovating, but once you’ve sealed off any cracks and installed new, insulated windows you’ll be using less energy to heat or cool your home. This will translate into savings pretty quickly. There are plenty of online guides to winterizing your home, and energy experts swear by proper insulation as a way to use less of the electric supply.
Consider a private money loan to cover renovations.
Once you’ve figured out how to get your energy plan lowered and you’re spending below the national average on electric costs, you can get to the fun part of homeownership—renovating it to be exactly as you want it to be. One great tip if you’re looking for lenders to bankroll your renovation project is to consider private money options.
Private lending firms such as Pacific Private Money can be more sympathetic to the needs of homeowners who are looking to upgrade their abode without paying too much in interest. In fact, if you’re thinking of adding a home office and opening a small business in your new home, Pacific Private Money will give you the best rate. A private lender isn’t beholden to the needs of a big financial institution, which gives both the lenders and the borrowers more flexibility when it comes to things like interest rates and contract terms.
If you’re looking for ways to save money in your home, don’t lose heart. There are plenty of ways to get this done without bringing in renters to occupy a spare bedroom. Consider the amount of electricity you actually use, research energy suppliers, and find the type of plan that actually suits your needs. Then find an approbate lender to pay for the rest of your dreams to come true.
