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Home Maintenance Tips for New Homeowners

Sep 26, 2017

Signed, sealed and delivered. Now that the paperwork is complete, you’re officially a new homeowner! You’ve likely just put a big dent in your savings, but there are simple ways you can work toward making your new house your home without breaking the bank. Follow these home maintenance tips to save money.

Home Maintenance Tips for New Homeowners to Save Money

Insure your new home

There’s no place like home, so make sure to protect it. Shop around for insurance. At PFCU, we offer homeowners insurance to provide the best possible insurance coverage for new homeowners at the most affordable cost. Through PFCU Insurance Services LLC, we work to meet all of your needs by exploring your options and identifying eligible discounts. Both property and liability coverage for household items, including jewelry, artwork, and computers and electronic equipment, can be included in your package. Protecting your home – and your valuables inside it – now can save you money in the long term.

Develop a home maintenance checklist

  1. Evaluate your space
    Once your home is insured, it’s time to evaluate your space. Take a close look at your attic, common rooms and basement for ways to improve your home. Starting from the top, check for loose roof shingles and clear the gutters. Move on to check the insulation in your attic and add more if needed.
  2. Lower hot water temperature
    To reduce your monthly bills, lower the temperature on your hot water heater.
  3. Install ceiling fans
    Rather than bumping up the thermostat keep your home cool by installing ceiling fans as a low-energy option.
  4. Check the plumbing
    Make sure all faucets, toilets and under-sink plumbing are not constantly running or leaking.
  5. Replace the air filter
    Replace your air filter right away and keep tabs on your furnace or AC unit every few months to check if the filter needs to be changed again.
  6. Identify cracks in the foundation
    Finally, identify any cracks in the basement from foundation shifts and mark with dated masking tape. If the cracks continue to grow, contact a specialist to address the problem.

Get handy with DIY projects

Rather than call in extra help, take the lead on “Do-It-Yourself” projects. Home improvement can include upgrades to existing home interior (plumbing and electrical), exterior (roofing and siding) or other improvements to the property (landscaping). To get started, create a workspace and make sure it’s tidy. If you only plan to use tools once or twice, consider renting or searching for great finds at yard sales. Home improvement is an ongoing process, so keep any leftover materials — nails, bolts and screws —for future projects to save money. Use our home budget calculator to find out how each of these techniques may save you money each month.

Being a new homeowner is an exciting milestone! The process can be overwhelming, but step by step, your house will become a home. To save money on home maintenance in the short term and long term, purchase homeowners insurance, create a checklist of projects and take a hands-on approach rather than splurging on labor costs.

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Five Money-Saving Ideas for Fall

erin_elis

Erin Ellis
Accredited Financial Counselor ®
Philadelphia Federal Credit Union
eellis@PFCU.COM
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