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Reducing The Cost Of Homeownership

Reduce Your Homeownership Expenses

Making Your Home More Financially Comfortable

Buying a home is one of the wisest financial investments you can make, but it can feel like a burden when the maintenance costs, utility bills, and mortgage payments start to stack up. Fortunately, there are a few things homeowners can do to minimize the expense of owning a home.

  • Minimize Your Mortgage: Your mortgage is probably the biggest expense associated with your home, so it is a great place to look when trying to save. Consider refinancing for a lower interest rate or shorter term to save you money in the long run. You can also pay half of your mortgage every two weeks to minimize interest accrual.
  • Undercut Utilities: Keep your thermostat level to avoid unnecessary heating and cooling expenses. Try to keep it at around 68 percent in the winter and 78 percent in the summer to further minimize costs. Keep your freezer full so it does not need to work as hard, and try to keep your laundry loads back-to-back so your dryer stays warm between cycles.
  • Eliminate Water Waste: Install a low-flow showerhead to reduce water use. Lower your water heater temperature to 120 degrees to reduce costs (this can shave up to 5 percent off of your electricity bill) and avoid getting scalded. Do not run your dishwasher or a load of laundry until you have a full load. Take the time to fix leaking faucets and pipes.

If you are using these tips even as you are in the process of shopping for your next home, you deserve to have your escrow services during the real estate transaction flawlessly executed. For all of your escrow service needs, contact the escrow experts at Brighton Escrow in Hermosa Beach, California.

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