5 Typical Ways Your Home Is Draining Your Wallet

As a homeowner, you are responsible for the maintenance and upkeep of your abode. When something breaks, you must pay to get it fixed. The thing is, prevention is better than the cure, as the old saying goes.

With that in mind, it makes sense to carry out periodic maintenance on your home to keep those repair costs down as much as possible. But, did you know there are some ways your home is costing you money without you even realizing it? Check out these five examples:

1. Your heating system is inefficient

You will use your home’s heating system the most during winter. Have you ever noticed that your heating bills are quite high, even though your home has insulation and glazed windows and doors?

It’s likely you may need to replace one or more furnace heating elements, or remedy some other internal component that has failed. The reasons for heating system failure are either due to lack of maintenance, or a problem with hard water deposits in the system.

2. Your rooms have inefficient lighting

Do you live in a big house, for example, and some of your family members have a tendency to leave lights on quite often? If so, it’s likely your lighting costs are eating away at your wallet. The good news is you can take some steps to resolve the problem.

For instance, you could replace your light bulbs with LEDs or energy-saving CFL bulbs. You could even install motion detectors in rooms to turn lights off whenever there’s a period of inactivity.

3. Your windows and doors need replacing

Some homeowners don’t realize they are literally throwing away money outside because of gaps and cracks in their windows and doors. It’s not a problem you’d notice during the warmer months of the year.

However, in the middle of winter when you’re constantly using your heating system, you will find the heat generated inside your home escapes to the outside. Replacing your windows and doors with energy-efficient ones is another practical way to cut your heating costs.

4. Your insurance policy doesn’t think your home is secure

Most property insurance companies will ask you what kinds of locks you have on your doors and windows. If you don’t have modern ones that make it hard for people to break into your home, your insurance policy will be significantly expensive.

Believe it or not, the cost to replace your locks (or add ones) isn’t beyond most people’s budgets. Your insurance company (and wallet) will thank you for upgrading your home’s security with modern locks.

5. There are gaps in your brickwork

Last but not least, another common way that heat escapes any home is when there are holes in your walls! The typical reason for those holes is down to cracks in the mortar between your bricks. In some cases, there’s missing mortar due to the effects of weathering.

The way to fix that problem, of course, is by applying new mortar between your bricks to seal up any gaps and cracks.

Jeff Campbell

Jeff Campbell is a father, martial artist, budget-master, Disney-addict, musician, and recovering foodie having spent over 2 decades as a leader for Whole Foods Market. Click to learn more about me

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