A new fitness routine? More time spent with family and friends? A conscious effort to remove a certain habit from your life? With the start of the new year, resolutions and goals (and how you plan to achieve them) are likely on your mind. If you’re a homeowner, you might want to consider some house-related goals for the next 12-months.
Here’s a list of 3 New Year’s resolutions for homeowners, tips on how to make them happen, and the results you could see if achieved:
Resolution #1: Save More at Home
Who doesn’t want to save more money? In 2017, watch for places around the home to save more. Here are a few hiding places where you may find some savings:
By refinancing … Depending on when you took out your current mortgage and how much your overall finances have improved, refinancing your home loan at a lower rate could help you see considerable savings on interest. Here are 5 signs that it might be time to refinance your mortgage. If you think refinancing might be right for you, contact a Sindeo Mortgage Advisor. And, be sure to check out our newly released SindeoOne, where you can shop more than 1000 loan programs simply by filling out a single application that takes less than 5-minutes.
By being aware … When you own a home, it’s easy to focus on all the big costs —the mortgage, the insurance, the maintenance. But, with a bit of creativity and focus, there are quite a few smaller ways that you can save money in a big way. These 10 creative ways to save during the summer and 8 simple ways to save on your energy bill articles are a great place to start.
By doubling up … Making extra payments or paying a bit extra on your mortgage every month can help you shorten the time until your loan will be paid in full and can enable you to build home equity quicker. Just remember that some mortgages have hidden costs that sneak up when you pay off your mortgage early, so be sure to read the fine print and discuss this strategy with your lender.
Resolution #2: Improve Home Safety
From home break-ins to accidents around the house, home safety is an important part of homeownership. In 2017, make the resolution to improve your home’s safety and you can sleep better at night knowing you’re protected. Here’s how:
By reducing fire hazards … Hidden dangers like outdated wiring or lint buildup from your dryer can increase the risk for home fires. Have a professional inspect these areas and don’t forget to test your smoke and carbon monoxide alarms monthly.
By rethinking security … You don’t have to install a costly alarm system to increase your home’s safety. Take a walk around your home —both inside and out— and rethink your security. Perhaps you need to switch to deadbolt locks or add more light outside your home at night. There are just two small changes that could deter would-be burglars. You might also consider wi-fi enabled doorbell cameras like Ring.
By checking coverages … Not only can you save money when you re-shop your insurance coverages, but it gives you the opportunity to audit your coverages to ensure you’re protected when it counts. Make sure you have enough coverage and consider purchasing flood or earthquake coverage if you live in an at-risk area.
Resolution #3: Practice Good Maintenance
As a general rule of thumb, homeowners are encouraged to set aside at least one percent of the purchase price of your home each year for ongoing maintenance. In 2017 —in addition to setting aside a maintenance emergency fund— set aside some time to practice good maintenance and your home (and wallet) will thank you. Here are some tips:
By monthly check-ins … Create a checklist of home maintenance items you’ll commit to doing each month. This can range from checking the smoke alarms to cleaning the gutters and replacing the HVAC filter.
By hiring help … Home maintenance is one of the many hidden costs of homeownership, but DIY projects gone wrong can be even more costly. When tackling a home maintenance project that might be out of your league —think roof repairs or plumbing projects— be sure to hire a professional.
Make 2017 a Great Year!
These are just a few of the ways you can make 2017 a great year for homeownership. What resolutions will you add to your list? Share your favorite “homeowner resolutions” with us on Facebook! And, don’t forget to check out SindeoOne.
Here’s to a great New Year!