4 NEW YEAR’S RESOLUTIONS THAT SAVE HOMEOWNERS MONEY
Posted by Joshua Stein
The start of a new year is a great time to make changes in your finances and the way you maintain your home.
If saving money is one of your New Year’s resolutions, I’ve got four smart ways for you to do just that:
If you haven’t yet refinanced your mortgage or home equity loan to take advantage of today’s low interest rates, there’s still time to lock in a great deal. Jay Brinkmann, chief economist for the Mortgage Bankers Association, expects mortgage rates to rise above 5 percent in 2014 and to 5.5 percent by the end of 2015.
If your current mortgages exceed your home’s value, you may still be able to refinance using one of the federal government’s Home Affordable Refinance Program.
Change Your Furnace Filters
New Year’s resolutions don’t get much easier than vowing to change your HVAC filter once a month in 2014 to increase your furnace’s life span.
To make this task easy, buy 12 filters and store them in the furnace room so they’re at hand when you need them. Put a reminder on your calendar or tie this chore to another monthly chore, like paying your household bills, so you remember to do it each month.
Seal The Air Leaks In Your Home
Sealing the air leaks in your home is one of the most cost-effective ways to cut your utility bills. Check to make sure your winders are caulked around the outside of the trim on the inside and outside of your home. Use foam to fill large gaps where the plumbing, electric or cable comes in the house.
Shop Your Insurance Policies
Yes, it’s a bother to shop for insurance, but if you haven’t checked what’s out there lately, you may be overpaying. The easiest way to get this chore done is to delegate.
Copy the declarations pages from your current home, auto, life and umbrella policies and ask an independent insurance agent to look for a better overall deal for you. You can also visit your current agent or call your insurance company and ask for an annual review to make sure you’ve got the right coverage and are getting all the discounts for which you qualify.
About Joshua SteinThey say that owning your own home is a major part of living "The American Dream." I'm proud to be an active part in making that dream a realty for the good people of the Delaware Valley as a Realtor® with Coldwell Banker Preferred's Conshohocken office. I am actively involved with the Brotherhood of Congregation Beth Or as well as a proud parent in the Greene Street Friends School community. I also served as Den Leader for my son's cub scout pack as well as a member of the Cub Pack 173 Committee in Flourtown, and now with Boy Scout Troop 665. Professionally, I also hold membership in the Montgomery County, Pennsylvania, and National Association of Realtors®. Whether you or someone you know and love are buying or selling your home, I look forward to servicing all of your real estate needs on the Main Line and beyond.
Posted on January 14, 2014, in Real Estate and tagged ABR, buying, Coldwell Banker Preferred, Conshohocken, HARP, Home Affordable refinance Program, home ownership, Homeowner's insurance, Housing, housing market, HVAC, Joshua Stein, Montgomery County, mortgage, Mortgage Bankers Association, National Association of Realtors, Philadelphia, real estate, real estate market, Realtor, refinance, selling, utility bills. Bookmark the permalink. Leave a comment.