Successfully securing a mortgage, closing on your property, and finally moving into your new home is a super exciting time.
And then the utility bills come due.
In addition to starting to pay back that mortgage every month, you’ll also have utility bills to pay, possibly for the first time. They may seem overwhelming at first, but there are ways to keep your utility bills as low as possible—and prevent them from ruining the joy you feel about being a new homeowner.
The bulk of your utility bills will come from electricity, water, and gas usage—the typical American household can spend $3,000 or more every year. Following are some tips for keeping these bills under control.
Keep vents and filters clean
Your HVAC systems were likely inspected as part of the closing process, but don’t forget to keep up with regular maintenance.
Change or clean filters every couple of months, more often if you have pets. When airflow is blocked, furnaces and AC units have to work harder and are less efficient.
Also be sure to keep furniture and drapes away from vents for both safety and efficiency.
Adjust your thermostat
You can use less energy if you turn down the temperature on your thermostat in the winter and vice versa in the summer. But beware of making huge swings on the thermostat by, for example, turning off your heat completely when you're not home during the day in the winter. If you often make extreme adjustments, your heater or air conditioning will kick into overdrive and could cause a spike in your bill, not to mention wear and tear on your unit.
A programmable thermostat could be a great option for keeping a comfortable and steady temperature throughout the day and night—and saving money on your electricity bill.
Cut down on water usage
If your home doesn’t have them when you move in, it’s easy to swap out old shower heads and faucets for the low-flow variety.
Dual-flush toilets are a bit more of an investment, but they save water by using less per flush for liquid waste compared to solid waste.
Check your hot water heater
Running hot water can account for up to 20% of your utility bill, according to Consumer Reports. One way to make a dent in that amount is to turn down your hot water heater thermostat.
According to the EPA, a maximum temperature of 140 degrees wastes up to $60 per year—most people find that 120 degrees is warm enough.
Seal your home
Feel around your new home for any drafts, and use weatherstripping or caulk to seal any cracks in windows and doors.
If you have a drafty attic or walls that lack insulation, adding some is not too expensive and can make a big difference in your energy bills.
Check fixtures and appliances
Make sure you’re using energy efficient LED light bulbs—they use up to 80% less energy and last significantly longer than iridescent bulbs.
Make sure your appliances carry the Energy Star label—they use between 10% and 50% less energy. Also check whether your energy provider has an off-peak option, meaning using your appliances during certain times of day will be less expensive.
You might also consider unplugging appliances when you’re not using them. Some use standby energy even when they’re turned off.
There are endless ways, both big and small, to make your home more energy efficient and save money on your utility bills.
You can collect rainwater or use a greywater system, which uses water from sinks, showers, and laundry for irrigation purposes. Or, it can be as easy as lowering your air conditioning thermometer by a degree or two, or doing laundry during off-peak hours.
It’s up to you how much effort you want to put into saving money on utilities, but it’s nice to know you have some control over how much you’ll spend each month.
Sources: Consumer Reports, Bankrate, Constellation, Move.org
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