10 Things Homeowners Waste Money On – As a homeowner, there are a ton of responsibilities that fall on your plate, and those responsibilities can be expensive. The trick is determining what you should splurge on and what you need not waste money on. Here are ten things homeowners waste money on, to help you keep your cash in your pocket.
When you buy a new appliance, sales people will tend to upsell the extended warranty. Don’t fall for it! Your appliance likely won’t break down in the time of the extended warranty anyway.
You should always be shopping around to find the best insurance policy for your current situation. The one you purchased a decade ago, probably doesn’t meet your needs now.
Furnishing Your Home
When you become a homeowner and throughout the time that you’re living in your home, your taste in interior changes. Don’t immediately furnish your home within a month of living there. Give it some time and let your style develop.
Energy inefficiency is an expense you don’t want to pay, but will have to deal with when you move into a home. Perform an energy audit on your home to make sure you aren’t wasting your hard-earned cash.
Private Mortgage Insurance
The best possible time to overpay on your mortgage is the first few years. While the 20 percent down payment is promising at the beginning, you often overpaying as much as $100 per month.
SEE ALSO: Tips For Financing Your Home Renovation
Whether you’re moving from an apartment or smaller home, you will be astounded by how much extra space you have. However, don’t fall into the trap of buying a ton of little things to fill that space.
Don’t Dive In
While it seems incredibly luxurious to have your own backyard pool, it’s not always worth the cost of up-keep and maintenance.
Don’t Use a Backup Plan
Some people are prepared for any type of emergency, but it isn’t always necessary when it comes to a backup generator. While they cost a lot of money and can help you prepare for the worst, they don’t provide a ton of value when you sell your home.
No one willingly throws money out the window, but that’s what you’ll be doing if your windows aren’t insulated properly.
Lawn Care Services
Often times, lawn care services promise you a beautiful, lush lawn in exchange for a hefty paycheck. Those costs can add up, while the job looks like something you could’ve done in your spare time.
For more information about things homeowners waste money on, and to help you avoid those mistakes, visit here.