Tips on How to Reduce Running Costs in Your Property

Whether you’re a property owner, investor or an occupier, having to reduce running costs in your home will help you in so many ways!

Here are 10 long-term strategies to ensure you’re spending more money for the right things:

1. Make time

Sure, you’re busy and so is everyone else. Bring your calendar out and make time to attend to the maintenance jobs around your house. You don’t have to spend the whole day with it, but making sure to get this done will certainly make you stay on top of your tasks and reduce costs in the long run.

2. Know your place

We may sometimes believe that we can be an all-rounder, and that is fine. However, you don’t have to do everything on your own. It is always better to seek help or hire a professional to make sure that a tiny problem doesn’t become a huge one.

3. Fix those leaks

It may seem like it’s nothing, but thirty drips a minute can equate to one thousand litres a year. Imagine how much money you could’ve spent if only you got those taps or the leaking toilet fixed.

4. Clean aircon filters regularly

This is a very easy way to reduce your home’s running cost. Having a dirty filter in your air conditioner requires the unit to pull more power to meet the cooling requirements you’ve set — and that also means adding more dollars to your electricity bill. To avoid this, make sure to clean or replace your air conditioning filters regularly, but don’t forget to read the manufacturer’s instructions before cleaning, as filters can be delicate.

5. Schedule a pest control inspection

If the last time you had a pest inspection was when you bought your property, then that would be a serious concern. Now is the right time to schedule that inspection to check if there are termites or any other pests that are causing substantial structural damage to your wooden beams and foundations. Check also if there are bubbling paint, wood that has become soft and mud tubes. If you tap a suspect beam and it sounds hollow, that’s a bad sign.

6. Invest in LEDs

Just like with heaters, replace those old-school, incandescent bulbs that you still have and you can save even more money. There are various types of LEDs and halogens that are already environmentally friendly, and electricity companies and councils may even have a checking service. Not only will you appreciate a bright house, but you will also love spending less money than ever.

7. Seal, seal, seal

Walk around and feel if there are any drafts. Pay special attention to window and door seals. If there are, then it’s time to seal those crevices and cracks so that you don’t let the cold air into your home. You don’t have to spend a fortune to fix these — often, all you need are a caulking gun and silicon.

8. Install insulation batts

Another expensive problem that you may have is heat escaping through a poorly insulated roof. Prevent that from happening by installing insulation batts in the roof cavity, especially that it gets very hot during the summer and you might find it challenging to keep your home cool. To ensure you’re doing it right, you may always hire a professional for quality checking and placement of the insulation batts.

9. Have efficient heaters

Old style bar heaters are not only outdated but also inefficient, expensive and a fire hazard. Having a new and efficient heater will save you up to 50% on your electricity bill heating costs. The price of a new heater is usually less than the additional electricity costs of running an old heater.

10. Install ceiling fans

If you think ceiling fans are made for summer, then you got it all wrong. If you look at the stem of your fan, you’ll find a setting for both summer and winter. Of course, the winter one will reverse the rotation and push hot air back down towards you to ensure you get warmth instead of the other way around. Maximize its use, so you won’t have to worry about wasting money on heat that sits on the ceiling.