Monday, June 1, 2015

19 Things a New Homeowner Should Do Immediately to Save Money

couple moving into new house
So you’ve just moved into your nice new home. You’ve unloaded the boxes and started to unpack your life.
Right now is the perfect time to walk through a checklist of ways to save money on your home for years to come.
Starting on these things as early as possible will allow you to start saving money sooner rather than later. Plus, some of them will be easier to accomplish before you hang pictures or get too settled in — and lose your move-in momentum. Here are 19 things to check or do immediately that will reduce the energy and maintenance costs of your home over the long haul.

19 Things to Do Immediately to Reduce Your Home Energy and Maintenance Costs

1. Check the insulation in your attic – and install more if needed.

If you have an unfinished attic, pop your head up there and take a look around. You should see insulation up there between the beams, and there should be at least six inches of it everywhere (more if you live in the northern part of the United States).
If there’s inadequate insulation up there – or the insulation you have appears to be damaged – install new insulation. Here’s a great guide from the Department of Energy on attic insulation, including specifics on how much you should have depending on where you live. Many states offer financial incentives, up to a 75% refund for instance, to encourage homeowners to better insulate their homes.

2. Lower the temperature on your hot water heater down to 120 degrees Fahrenheit (55 degrees Celsius).

This is the optimum temperature for your hot water heater. Most people don’t use water hotter than 120 degrees — indeed, water hotter than that can scald you or a child — and thus the energy needed to keep the water above 120 degrees isn’t used effectively. Lower the temperature, save money on your energy bill, and you’ll never skip a beat.

3. Toss a water heater blanket over that hot water heater as well.

While most modern hot water heaters are well-insulated, some are insulated better than others, and many older heaters aren’t insulated well at all. A small investment in a blanket for your water heater will slowly and gradually save you money on your heating bill over time by keeping the heat in the water instead of letting it disperse slowly into your basement or utility closet.
The Department of Energy recommends being “careful not to cover the water heater’s top, bottom, thermostat, or burner compartment.” And of course, on-demand (or “tankless”) water heaters don’t require this treatment.

4. Install ceiling fans in most rooms.

Ceiling fans are a low-energy way to keep air moving in your home. Because of the air circulation effect, you can get away with keeping your thermostat a degree or two higher in summer and a degree or two lower in winter, netting a rather large savings.
A while back, I wrote a guide to maximizing ceiling fan use. The most important thing to know is that the air directly below the fan should be blowing down on you in the summer and should be pulled upwards away from you in the winter — you can use the reversal switch on your fan to switch between the modes at the start of each season.
installing a ceiling fan
Installing ceiling fans to circulate air can save on cooling – and heating – costs. Photo: Ryan Schreiber

5. Wrap exposed water pipes with insulation.

Exposed hot water pipes lose heat as they move water from your heater to your faucet or shower. Wrapping them in pipe insulation, especially in cold basements or garages, can make a two- to four-degree difference in the temperature of the water, and also allows hot water to reach your faucet faster.
Check the pipes into and out of your hot water heater first, as the first three feet out of the heater (and the last few feet of inlet water) are key. Use good-quality pipe insulation for the job, which is actually quite simple — here’s a tutorial.

To read the rest of the article, click here.

 For more information on LiveWell Homes, click here

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