Steps to Decrease Everyday Home Costs

Austin Mortgage – Steps to Decrease Everyday Home Costs

At Austin Mortgage, we understand that home owners are looking for mortgages with the best rates and lowest fees. Our team of expert mortgage professionals are here to provide you just that along with additional ways you could save on your everyday home costs.

1.) Refinance

The first step towards decreasing your everyday home costs is to take a look at your largest expense, your mortgage. With mortgage rates at an all-time low, there is a chance you could refinance your current residence and lower your monthly mortgage payment. Contact Austin Mortgage today to see if refinancing is a good option for you.

2.) Insurance

Homeowner’s insurance is likely to be another large piece of your home costs pie. It is important to check in with your insurance agent annually to determine whether or not you are getting the right amount of coverage at the absolute best price.

3.) Real Estate Taxes

Another way to cut back on everyday home expenses is to check out your real estate taxes. As the assessed value of your property increases, as do your real estate taxes. If your city of town is about to conduct another reassessment and you believe that they have placed too high of a value on your home, ask for an abatement. In order to win, you must do your homework. Before requesting an abatement, research the assessments of homes similar to yours in your neighborhood. Usually found at the tax assessor’s office, the home assessment records are available for public use.

4.) Monthly Expenses
A big way to reduce the amount spent on home costs is to reduce your recurring monthly expenses.

While sewer and homeowners’ association costs are generally fixed expenses, water usage can be controlled. Small changes like turning the water off while brushing your teeth and running the washing machine only when you have a full load can make a big difference on your next water bill.

Even if you are happy with current house keeper, lawn and gardening services, or private trash collector, never stop shopping around for a cheaper rate. Many times, if you inform your current supplier that you saw that their competitor’s rates were cheaper, they will often provide the service at their competitor’s cost to keep your business.

Do not keep renewing your same cable and internet packages every year. If you know that your renewal
time is coming up, check out other companies to ensure that you are getting the best deal. If you find a
better deal than what you currently have, switch providers.

You can manage your electric bill in ways similar to that of your water bill. The most important way to watch your electric costs are to remain aware of your usage. Set a sleep timer on your TV instead of letting it run all night and turn your air conditioning unit up or off when you leave the house. Just as with the water utility bill, simple solutions to conserve electricity can have a huge impact on your monthly expenses.

6.) Major Home Renovations

Renovating and remodeling your home will increase its value and give you a greater return on your
investment. However, major home renovation projects can easily drain the wallet. If you know that you
want to remodel your kitchen, bathroom, etc. get a price quote for the renovation first. Take notes on
what material you would like used as well as cost of new appliances. Total up everything for a rough
estimate of what the renovation will cost. You may want to add on some extra cushion to your budget
at the end just in case there are a few surprises or unexpected costs once the renovation begins. If you
wish to begin the project in X amount on months, then divide your budget by that number and put
aside that amount of money every month until the project begins.

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