Top Money-Saving Tips for New Homeowners

The ‘Sold’ sticker is proudly on the sign out the front and the empty bottle of Moet is safely in the recycling bin.

Now it’s time to make the right decisions for your new home to save you money for years to come! While there are bound to be some elements of the new home that you can’t change, there are small things you can do that will make a big difference when the bills roll in each quarter.

Tim Wolfenden, Managing Director at saving service Make It Cheaper, shares his top tips to help new homeowners:

Tips for new homeowners:

1. Install ceiling fans as an alternative to using the air conditioning. They operate far more efficiently as a lot of the heat comes down to circulation as much as creating cool air.

2. Find out who your local gas and electricity providers are and shop around for a better deal. Customers are entitled to terminate the current contract at the new property and join up with another retailer offering a better deal. The alternative is to migrate the contract from the retailer at the previous property. Call a saving service (such as Make It Cheaper) to find the best saving solution for your new home. They will mitigate the risk around early termination fees – a big headache for many homeowners when moving home.

3. If you are moving into an older house, install insulation or have new insulation installed. It is essential in winter – and will mean you don’t have to keep your heating on all evening and night to keep the cold at bay.

4. Ensure your blinds and curtains are thick enough to block out sunlight, which will keep your house cooler during the warmer seasons.

5. Select new appliances that have high energy star ratings as they will save you running costs in the long run. The more energy-efficient appliances you buy, the less of a strain it will be on your first energy bill.

6. Find out what the orientation of the house is and lay out the rooms accordingly. Westerly-facing rooms will be warmer in the afternoons while easterly-facing rooms will be warmest in the morning, so work out when you’ll be using each room and what temperature you’d like it to be.

7. Do you really need five televisions and four stereos? Re-evaluate where you’re putting appliances so they can be seen and heard from different parts of the home.

8. Change all the lights to energy-efficient bulbs. Thousands of Aussie homes have old, incandescent bulbs which give out as much heat as they do with lighting.

Wolfenden says: “We often get so excited about moving into a new home that we forget the costs that our decisions may incur down the track. We recommended new homeowners take measures to make their homes as energy efficient as possible from the beginning and get into the routine of running an energy efficient household moving forward. A new home is a new chance to clean up energy usage patterns and make for a sustainable future that is free of unnecessarily inflated bills.”

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