How to Reduce the Financial Burden of Owning a Home


There is no doubt about it: Homeownership is wonderful, but it is also expensive. Regular maintenance costs, insurance, supplies, repairs, and more can cost you thousands of dollars every year. However, while homeownership is unquestionably expensive, there are ways to reduce your financial burden. Here are four ways to reduce your financial burden if you are a homeowner.

Preventative Maintenance

More often than not, simple preventative maintenance can save you tons of heartache and expense. This includes regular cleaning, inspections, and having important HVAC systems—like your furnace—checked at least once a year. You should make sure you talk with a specialist to determine what sorts of preventative maintenance you need.

Energy Audit

The average American spends thousands of dollars a year in energy-related costs, and a lot of that money is unquestionably wasted. Many power companies offer free energy audits that can give you a better idea of various ways that you can save money on your energy costs. There are also green energy appliances you can purchase and upgrades you can make to your home that may be expensive at first, but save you money in the long run.

Property Tax Appeal

Property taxes are a primary way of funding local government and schools in most places in the United States. Depending on where you live, they can be a major expense. However, it is possible that you are overpaying your property taxes. As such, there are ways to appeal your property tax payment with your local government. If you aren’t sure whether or not it is worth it, check with a property tax attorney in your area, and have them look closer at your finances and tax expenditures. They can give you legal advice and help you determine if an expensive property tax appeal is worth it.

Home Security System

Installing a professional home security system can be expensive, but it can help you save money in two ways. First, a home security system can reduce your home insurance rates. Second, and perhaps more importantly: It can deter thieves, thus saving you thousands of dollars and countless hours of inconvenience and stress.

Homeownership is expensive, but the good news is that you have control over just how expensive it gets. By acting proactively, you can limit the burden that owning a home can place on your wallet. Following these tips can be very helpful for assisting your efforts to reduce your homeownership expenses.

Emma Sturgis is a freelance writer based out of Boston, MA. She writes most often on health and education. When not writing, she enjoys reading and watching film noir. Say hi on Twitter @EmmaSturgis2

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