3 Things You Can Do Around the House to Save Money Later

One of the positives of renting is that you don't need to worry about maintaining your property yourself. But as a homeowner, keeping your house in good shape is vital. The last thing you want to do is avoid making a small repair only to need a larger, more expensive repair later on.

Performing certain maintenance tasks around your home throughout the year can help to keep your budget safe and sound. That said, here are a few things you can fix up around your house to keep more expensive damage from coming back to bite you later on.

Fix leaky pipes

Approximately 10% of U.S. households have leaks in their plumbing. While these leaks might not look like much of a problem on the surface, they can actually waste up to 90 gallons of water per day. Left alone, leaky pipes not only eat into your water bill but they also get worse. If DIY plumbing fixes don't seem to do the trick, consider looking up local plumbing companies who are adhering to COVID-19 guidelines to have a professional come take a look. There are roughly 55 million Americans in 12 different industries, including plumbing, that are operating as essential workers right now.

Turn down the temperature on your water heater

Water heating makes up approximately 18% of your home's energy costs. If you want to save money on your heating bill while also prolonging the life of your water heater, consider turning the temperature down. According to the U.S. Environmental Protection Agency, turning your water heater down to 120 degrees can save you up to 10% a year on hot water heating.

What's more, turning your water heater temperature down keeps your water heater working more efficiently for longer because it doesn't need to put in as much energy into heating up your water. Considering the average water heater lasts between six to 13 years, you could get more bang for your buck by turning your water down to 120 degrees.

Go ham with your insulation

About 20% of every dollar you spend on your home heating goes through the roof without adequate insulation. During the winter months when you're pumping warm air through your vents, you're introducing air into your home that's less dense than the air outside. When you have inadequate insulation or drafts in your home, the less dense warm air will rise up to the second story to your attic and out through the roof.

Inadequate insulation not only causes high heating bills but it can also make your heating system work harder, your water heater work harder, and it can put your roof at risk. That said, make sure to properly insulate your attic. You can also close up any drafts around your home with spray-adhesive insulation.

It's no secret that home maintenance can be pricey. But when you take care of smaller issues before they become major problems, you can save yourself a lot of money in the long run.