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5 Home Issues That Are Draining Your Bank Account in Charlotte, NC

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Purchasing your first home is usually one of the most exciting events of a lifetime. Maybe you had been renting for a long time and wanted to take on your own property so that you had more freedom with the space. Even if you are a long-time homeowner, there are aspects of ownership that are important to understand. 

One of those aspects is how to save money with your home. The main advantage of owning a home versus renting is that you are building equity in the property with each monthly payment. The longer you live there, the more the principal you can pay to earn equity. But another advantage is that you can make changes to the home without having to ask a landlord for permission, provided you get permission from the town for larger upgrades.

There are multiple ways to save money while living in your Charlotte home. Many of them are simply the result of dealing with issues that can raise your utility bills. Here are some home problems that could be draining your bank account but could be turned into saving opportunities. 

Poor Windows

Maintaining temperatures for your interior spaces can have a big impact on your utility bill. In the summer, you want to keep the hot air out and the air conditioning in. During the winter, the name of the game is heat retention. Windows can be a popular culprit for causing your heating or cooling systems to work harder during these seasons. Replacing these windows can help solve this issue, especially if the models are very old. Insulation and sealant can degrade over time, so the integrity of the connection between the window and the wall could be compromised. However, if those connections seem okay, you could still consider home window tinting to make temperature control a little easier.

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Drafts

Another common issue that homeowners face is drafting. When air is coming in from the outside when the house is supposedly sealed, then there is something wrong with the structure, either on the interior or the exterior. If you ever feel a draft in your home, then this issue could result in your HVAC systems working harder, which means higher utility bills when extreme temperatures are outside the home. A draft could also indicate an opening that could cause a water leak during rainy days as well. Windows, doors, outlets, attics, and crawl spaces could all be sources for drafting in your Charlotte home, so try to locate the entry point and take steps to seal up the opening.

Old Appliances

Energy efficiency is a hot topic in the home improvement industry. The less power your home requires, the more money you can save and the smaller your impact on the environment can be. Typically, the largest users of power in your home are appliances. Washers, dryers, refrigerators, ovens, dishwashers, and other similar machines tend to use a lot of power when in operation, especially older models. While you can invest in alternative energy sources like home solar panels, it can be simpler to fix the issue by replacing old appliances that raise your utility bill. Plus, the older they get, the harder they have to work to perform their functions, drawing even more power than usual. Look for new appliances with high energy star ratings to eliminate this issue and stop losing money every month on electricity. 

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Light Bulbs

Going through a lot of light bulbs can be an unnecessary cost. Older bulbs tend to not last as long as newer, LED bulbs. Old bulbs will also require more power to stay lit. By upgrading to greener options like LED bulbs, you can save money on purchasing new bulbs frequently and the electricity required to power them. 

Water Leaks

Water damage is another area of concern for homeowners. Few things are worse than discovering a water stain on your ceiling or finding a mold infestation that indicates the presence of water damage. Small water leaks may take a long time to be noticed, increasing your water bill. If you ever notice signs of water damage, you must take steps immediately to find the source of the leak, whether that means inspecting the nearby area yourself or calling a restoration service. Regular maintenance of your water appliances and fixtures is a wise strategy to prevent this issue in the first place. Respond quickly to signs of water damage and keep up with preventive maintenance.

Essentially, Just Take Care of Your Home

A temptation once you become a homeowner is to avoid unnecessary expenditures. Sometimes, that might mean ignoring a maintenance issue in the interest of saving money. Usually, small maintenance issues will develop into larger problems that will be even more expensive. If you are vigilant and take care of your Charlotte home when needs arise, you are more likely to avoid these issues that can be a drain on your bank account. 

 

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