Category: Property

Can I Reduce the Cost of Living in my House?

Many of us are very happy living in the house that we are in, but we might find that it is rather expensive. There might be things that we can do though, that could make it cheaper to live there.

Buy Rather Than Rent

If you rent your home then you will find that it could be more expensive than if you have a mortgage. It can therefore be worth looking into whether it is possible to buy your home. If you are renting from a council or housing association you will find that it can be possible to buy your home form them. This may not make much difference in the short term, but it can make more of a difference in the longer term. This can be particularly important once you are retired and the mortgage is paid and you no longer need to pay anything out. It may even be possible to buy a private rental if the owner decides that they want to sell up and you could even try to tempt them with an offer to see if they are interested in selling.

Check Council Tax Band

Many people are paying too much council tax because their band has been incorrectly calculated. It can be worth searching online to find out whether this might be the case for you. Of course, it could be the case that you are not paying enough, but you do not need to worry because if the band has changed then the council tax charges do not changed until the house is sold. However, if you are paying too much, it will be adjusted quickly for you.

Switch Utility Providers, Insurers etc

There are a lot of different things that have to be paid when you have a house. You have to pay for contents insurance (and buildings if you own the house), for electricity, gas, water, broadband, phone etc. All of these things can really add up. However, it can be possible to reduce the cost of these by switching the provider. You cannot switch your water provider but you can all of the others and it is worth checking to see whether you can find any cheaper ones. Chances are that there will be cheaper providers and it is worth looking at them carefully to see whether you think that you want to switch to them. They may not be companies that you have heard of but do not let that put you off. Take a look at the reviews and then you will be able to judge more easily as to whether you think they might eb a company that you want to try out and that you think that you will be able to trust.

Insulate, do Work Yourself etc

There are also other changes that you might be able to make. If you get the home insulates, perhaps change windows, put in carpets and things like this, you will be able to do this if you own the house but not if you rent, although you could ask your landlord about it. You could also think about other things you could to save money such as doing jobs in the home yourself. Some people pay others to do repairs, decorate the gardening, cleaning and ironing. If you do any of this then it could be a good idea to think about whether you would like to stop paying someone to do those jobs and to do them yourself. You could also cut down of your usage of electricity, water, gas and things like that which will help you to keep your bills down.