9 Ways to Save on Your Home That Grandma Never Told You

Classic advice — with a few modern twists for today’s homeowners.

Your grandma and her ma before her knew how to pinch pennies. Bet they knew where every dime of their household income went. Do you? Don’t kick yourself if you don’t. It’s tough in this day and age of automatic billing and apps that tap your debit card.

But we all could still learn a thing or two from grandma. Here are a few money-saving and money-making habits that your grandparents cultivated — some with a few modern twists that your grandparents wish they’d had back in their day.

1. Rent Your Rooms — and More

Your four-bedroom Cape Cod was ready for your future rugrats the day you moved in. But you? Not quite so ready. Your grandparents knew that extra space was a goldmine, and would rent it out. You’ve got it even better today with Airbnb or HomeAway (just make sure to check city regulations first).

Or commit to sharing space long-term: Finding a roommate makes you an honest-to-god landlord (and could score you a new bestie!), complete with tax deductions and blessed additional income.

There are other ways to leverage extra space that are easier today than in your grandparents’ day because it’s so easy to use the internet to advertise. If you’re lucky enough to live near a concert venue or ballpark, let attendees park in your driveway or parking space for some extra cash.

Have a rooftop patio perfect for parties? Check out Splacer, a new online marketplace for event planners, which can turn your home into a money-making event venue.

2. Revisit Your Insurance

The coverage you needed when purchasing the home might not be the coverage you need forever. Perhaps you sold your grandmother’s antique diamond ring, added a security system, or finally ditched the trampoline. Any of those things could actually make your rate go down. Give your agent a call to make sure you’re not over-covered.

You might even find savings on things you didn’t realize come built into your insurance.

“A lot of times, you find you have double insurance,” says Deb Tomaro, a REALTOR® in Bloomington, Ind. When a breach compromised her personal information, she set out to buy identity protection — only to find it was included in her homeowner’s policy.

“I would have paid for double coverage,” she says. “I didn’t know that until I asked.”

3. Research the Problem Before You Pay Someone

Your grandparents would have raged about paying someone for something they could do (or learn to do) themselves. Google DIY options before calling a pro — you might find your irritating issue super easy to fix on your own (and way, way cheaper).

Hiring a plumber to fix your leaky fill valve might cost $45 per hour (or much more). Handy homeowners might spend $25 or less on materials, saving you enough cash for a decent bottle of wine. And don’t bring out the handyman to fix cracking caulk — a $4 tube from the hardware store will do the job nicely.

4. Stock Up That Fridge

File this under strange-but-true: A full fridge regulates temperature better than an empty one. Open space in your refrigerator fills with warm air whenever you peek inside, making your poor appliance work overtime. Your grandparents’ fridges were smaller and easier to fill, so it wasn’t an issue for them. But today’s larger fridge/freezers can waste significant energy.

So go ahead, stock up on veggies, meat, and milk — just don’t let your grocery costs run amuck in the process. If you can’t fill it with usable food, place pitchers of water in your fridge to take up the space. And set your fridge between 36 and 38 degrees Fahrenheit for max efficiency.

5. Get FREE Stuff From Your Utility Company

Now this is a new one on your grandparents. Energy efficiency wasn’t quite the thing that is today. So, believe it or not, unlike a couple of decades ago, your utility company is working to save you money. Their methods might even be a little Oprah-inspired:

You get a free LED bulb!
You get a free energy audit!
You get an HVAC coil cleaning!
That’s right. Some utilities give away free stuff, like usage assessments, efficient bulbs, water-saving shower heads, faucet aerators, and more. And they may offer rebates for upgraded appliances. Bet your grandparents would have snapped those up if they had the chance.

“There are tons of ways to save,” says Steven Hughes, founder of Know Money, a financial literacy advocacy organization. “Some [utilities] are even sending out solar-powered panels to different houses, depending on the neighborhood, for no cost.”

6. Watch Your PMI

What’s PMI? Private mortgage insurance. If you put less than 20% down on your home, you’re probably paying for PMI, which protects your lender if you default on the loan. But once your loan-to-value ratio hits that blessed 20% mark, call your lender to cancel it.

Lenders aren’t required to remove it until you’re at 22% — meaning an eagle eye can save you a good bit of cash. You’ll save between $600 and $1,200 for each year’s worth of premiums you can avoid (for a typical homeowner).

You might reach the goal post earlier than you think.

“PMI usually ends seven or eight years down the road, but if you’ve made big changes to the home, you might reach that 20% value much quicker,” Tomaro says. Most lenders will require an appraisal to determine if you’ve passed the magic number.

7. Resist the Urge to File an Insurance Claim

Your homeowner’s insurance company doesn’t need to know about every bump, scrape, and petty theft. Think about how much you’re willing to pay out-of-pocket before an incident occurs. Frequent claims can increase your insurance score. That’s right, your insurance company gives you a score, which can affect your premium, so carefully assess your budget and deductible before filing.

“Have a conversation with all the decision-makers,” Tomaro says. You might decide you’ll skip any claim that would cost less than $1,000 to fix. In that situation, increasing your deductible might make sense — and it will save you on your monthly premiums.

8. Negotiate for the Best Price (You Can Do It!)

Accepting the first price you see can cost you — even when it comes to things like insurance premiums and handyman quotes. And you can put those haggling anxieties to rest: You don’t need to be a hard-nosed negotiator to save money on your monthly payments.

Often, asking politely for another rate is enough. Some home insurance companies offer discounts or extended coverage for teachers, long-term customers, and other groups. And when it comes to your cable bill, mentioning you need to check out a competitor before committing might net you another year’s worth of free HBO.

9. Reap the Power of Rags

Although paper towels did exist back in your grandparents day, they didn’t spend money on them when an old rag would do. Disposable to them meant throwing money away. Follow their lead, and skip the one-use roll for washable rags, available in cheap multipacks. Or use the rags you already have: old T-shirts, cut-up beach towels — even socks work.

Even if you calculate the energy cost to run a load of laundry just for rags, you’ll still come out ahead by replacing your paper towels, unless you’re tossing your rags in the wash after every tiny wipe.

By: Jamie Wiebe @ House Logic

1320 W 168th Street # 6, Gardena 90247

LISTING PRICE: $375,000

In Escrow. Located just blocks from the up-and-coming Artesia Corridor, this lovely 2 bedroom, 3 bath home is conveniently located near shops, restaurants and eateries. The first level features an open concept living room with a cozy fireplace and leads into the kitchen, dining area and outdoor patio area. As you walk up the stairway to the second level, you will first notice the roomy hallway that leads to two complete master suites with balconies, bathrooms and walk-in closets. The second level also includes an extra spacious laundry area with lots of storage space. Additional features of this move-in-ready home are central air and heating and a spacious two-car garage that provides direct access to the home.

2 BEDROOMS
3 BATHS
1,200 SQ. FT
BUILT 1989

MLS#: SB17001515

Please call me if I can help you sell your home – Lucy Garber at (310) 293-4866.

The 7 Most-Needed Repair Tips Every Homeowner Should Know

Relax. Here’s how to make short work of every common repair annoyance.

These are the 7 most-needed repair tips every homeowner should know.

1. Fix a Leaky Toilet

Running toilets not only rob sleep, they waste water and jack up your bill. Here’s how to change a flapper — the usual suspect:

    1. Identify the correct flapper using model number of toilet.
    2. Turn off water valve (clockwise).
    3. Flush toilet to drain.
    4. Remove old flapper.
    5. Clip chain to lever.
    6. Attach new flapper to mount pegs and check chain length.
    7. Remove and adjust length to be allow about 1-3 links of slack, if needed. Reattach.
    8. Turn water valve back on (counterclockwise).
    9. Test and you’re good to go.

 

2. Repair Drywall Holes

The hardest part of drywall repair is making the patch flush with the existing wall. A “pumpkin patch” is an easy repair that cuts down on sanding.

3. Adjust Cabinet Doors

Changes in humidity can make cabinet doors rub, refuse to close, or just look cockeyed. Adjusting them is easy and generally requires only a screwdriver.

4. Open a Stuck Window

Windows stick when paint, dust, or moisture builds. Use a utility knife (or a pizza cutter) to remove old paint. Be careful not to gouge the wood sash. If high humidity is making windows hard to move, run a humidifier that sucks moisture out of air.

5. Stop a Leaking Faucet

A dripping faucet can waste 5 gallons of water per day. If you can’t replace the faulty part immediately, tie a string around the faucet and let it fall into the drain: Dripping water will silently flow down the string.

6. Silence Door Squeaks

Take the squeak out of doors by lubricating top and bottom hinges with a little WD-40 or white lithium grease. If you don’t have any on hand, olive oil is a quick but temporary fix.

7. Turn Off the Main Water Line

Don’t wait until water gushes into your house to search for the main water line. When things are calm and dry, locate and practice turning it on and off.

Written by Lisa Kaplan Gordon / Houselogic.com

Solar Christmas Lights: Should You Make the Switch?

LED vs solar-powered Christmas house lights

 

Solar Christmas lights don’t cost anything to operate, but are they better than plug-in LED strings?

In the last few years, energy-efficient LED holiday lights have largely replaced more wattage-thirsty incandescent strings, resulting in significant savings — LED lights use 50% less energy than their incandescent predecessors, and they last up to 10 times longer as well.

Now there’s a newish kid in the string-light neighborhood: LED solar Christmas lights promise grid-free festive lighting.

Powering Up Solar Christmas Lights

A string of solar Christmas lights uses a small solar panel for power; there are no extension cords that must be plugged into outlets. The panel — about the size of a hockey puck — powers rechargeable batteries that illuminate a 25- to 100-bulb string of LED lights.

Panels come with small stakes so you can put them in the ground, where they can take advantage of the sun. A fully-charged string of lights should glow for six to eight hours after the sun goes down.

Solar Lights vs. LED Plug-In Costs

Pricing for solar-powered and plug-in LED holiday lights runs neck and neck. Compare purchase prices:

  • A 100-light string of miniature solar-powered LED lights costs about $10 and up.
  • A 100-light string of miniature plug-in LED lights costs about $10 and up.

Compare costs to operate:

  • Operating a string of plug-in LED holiday lights for 300 hours — more than enough time for an entire holiday season — costs about 24 cents, using an average energy cost of 12 cents per kilowatt hour (kWh).
  • Solar-powered Christmas lights, of course, don’t cost anything to operate. That means you’re saving 24 cents per year in energy costs.

Advantages of Solar Lights

  • No extension cords
  • No need for exterior electrical outlets
  • Withstand cold temperatures and precipitation
  • Zero cost to operate
  • Light output comparable to plug-in lighting
  • Green option

Disadvantages of Solar Christmas Lights

  • May not operate under cloudy skies
  • Unproven longevity (too new on the market for results)

Article by Alyson McNutt English for HouseLogic | REALTOR