Homeowner s - your sanctuary, a place of refuge and relaxation where you surround yourself with loved ones and the meaningful things in your life.
But owning your own home does come at a price.
Cast your eyes over the following money saving tips for frugal living for saving-wise options.
And remember ... it is very important to maintain your home so that you can benefit from future capital gains growth linked to your investment.
HOMEOWNER S - 101 MONEY SAVE WAYS
No need to move ... why not improve?
Keep in mind that there are significant costs associated with buying a new home.
You will need to consider solicitor's fees, mortgage registration fees, agents commission, transport costs and capital gains tax (to mention just a few).
Perhaps it's time to think creatively and either maximize the space that you do have, add on a room or two, do some basic renovations and transform your home into "your sanctuary".
Consider adding living space, adding or renovating bathrooms and upgrading your kitchen as they tend to add value to the selling price of your home.
Remember to get at least three different quotes from reputable builders (in writing) before you undertake any home improvement projects.
(And remember too - there is always room for negotiation.)
Homeowner s ... keep in mind:
- your cheapest option is to knock down an internal wall
- second cheapest is going outward with your extension
- going upwards for a second floor or a loft conversion gets even more expensive
- and digging down to create a basement is the most expensive option
Invest in your own home repair manual and become a homebase diy.
Part of your saving-wise proactive strategy should be to try and prevent the problem before it happens.
If you wait until a home crisis occurs , you'll end up paying more for emergency call out charges and after hours penalties.
Proactive prevention should include:
- cutting back overgrown shrubs and trees to prevent them from damaging electrical wiring, paving, gutters, nearby walls and even underground plumbing.
- have the foundations of your home assessed annually for potential damage.
- clear your gutters regularly to ensure efficient drainage.
- assess and clean the plumbing or sewer pipes yearly
If you have decided that you want to buy a new home then homeowner s remember:
- negotiate on all costs (agents fees, solicitors charges, bank fees, conveyance fees and definitely the purchase price of your home)
- make sure that you earn interest on any deposit that you may make when making an offer
- if possible buy your new home when the housing market is low and that you try and sell your home by yourself to save on agent's commission
- hire a home inspector to confirm the structural credibility of the house and to alert you to any potential problems
- if you are going to buy into a condominium development make sure that it has been in existence for a few years
(you don't want to get caught out investing your money in fly-by-night operators)
- if property values have dropped so it is worth your while to appeal your property tax assessment for a potential saving
Keep meticulous records of home improvements:
- it will save you money in the long term because they can be added to the cost of your home to offset capital gains tax when you sell your home.
Cheap decorating ideas allow you to economize without compromising your home decorating ideas:
- avoid buying the latest trends in decor
- buy items that suit your style and specific pieces that you really like (you won't want to re-decorate as each new trend comes and goes)
- try sourcing affordable antique pieces or vintage items to create a timeless, elegant and classic feel to your home
- saving-wise floating shelves or box sets are both affordable and versatile display and storage options (an added benefit is that you can take them with you when you move)
- neutral colors for the walls are an inexpensive base to work from
- use accessories like cushions, rugs, throws, ceramics, lamps and flowers to add your chosen color theme affordably (and for more long term versatility)
- a wall collage of your favorite framed photos are an eye-catching and topical alternative to wall paper
- investigate durable floor coverings
- tiles are relatively affordable and they need less maintenance costs than wooden flooring
Homeowner s - there are so many great "how to save money tips" out there!
Go on - look into how to save electricity, diy solar power and even the best replacement windows.