Four Things to Buy for Your New Home
Four Things to Buy for Your New Home
Written by Money.com
Moving into a new place can be a great opportunity to turn over a new leaf and make your house the home of your dreams. If you have money left over from your home purchase, consider investing in amenities that will add value to your property, offer you additional protection and peace of mind, and give your abode a unique touch.
Keep in mind however, that the best purchases for your new home will largely depend on your and your family’s needs, budget, and location. Take these suggestions with a grain of salt and don’t skip on doing your own calculations to ensure you’re investing in the right upgrades and appliances.
Enhanced Home Security Features
Whether you live in a bustling city center or a remote rural area, investing in home security features like alarms, security cameras, and motion-activated exterior lighting could give the peace of mind that comes from knowing your loved ones and property are protected from possible home invasions and other costly accidents.
While burglary rates in the Unites States have continued to drop in recent years, about 1,401,840 burglaries took place in 2017, most of them between spring and summer when the weather was most favorable and less people were home during days and evenings. Putting money towards improving your home security can be a preventive measure to ensure your belongings are protected from these kinds of events. Installing a DIY or monitored home security system doesn’t only discourage burglary attempts, it also alerts you in the event of fire or smoke and helps you keep an eye on your property while you’re traveling.
An added perk to installing home security features, including sprinklers and smoke detectors, is that they can save you between 15% and 20% on your homeowners insurance premium, according to the Insurance Information Institute. Plus, new technologies have made it easier to integrate home security with smart home features, delivering both safety and convenience by allowing you to monitor your property and control other smart home devices (cameras, lights, doorbells, thermostats, locks, etc.) from your phone.
2.Energy-Efficient Appliances & Windows
Energy efficiency can save you hundreds or possibly thousands of dollars a year. Features like energy-efficient appliances, low-emissivity storm windows, ENERGY STAR-certified fixtures, lightbulbs, washers and dryers, etc. How much you save will depend on your energy consumption, but most report saving over $100 dollars a year. The true value of seeking greater energy-efficiency at home, however, is the savings over the life of your equipment. It’s also a huge plus for those concerned about their carbon footprint and wanting to make changes that have less of an impact on the environment.
If you already have appliances and they’re not energy-efficient, don’t create further waste. Set some money aside to invest in new technologies once your current equipment breaks down or look to sell them in your community. It also helps to read about and compare products to get a better idea of actual cost savings for you based on the upgrades you want and can afford to make.
3. Water-Efficient Toilets & Faucets
Another excellent purchase for your new home can be water-efficient fixtures. Water-efficient faucets, for example, can save you up to 700 gallons of water per year, while WaterSense toilets could reduce your water usage by 20% to 60% or 13,000 gallons. According to the EPA, that could mean saving up to $140 annually or $2,900 over the lifetime of your toilet. While small, these kinds of improvements can increase the value of your property while saving you on overall home expenses, and as any savvy homeowner can tell you, those savings add up overtime.
4. Comprehensive Homeowners Insurance
Our last item on the list is homeowners insurance. If you’re purchasing your new house through a mortgage lender, you’re probably already required to take out insurance on your home. While a homeowners policy is a choice many take without a second thought, taking the time to assess the value of your personal belongings and the risks in your area can help you determine the right amount of coverage and save you money.
Compare homeowners insurance from different companies, whether large or small, assessing first and foremost their educational resources and customer service skills. Many homeowners don’t inform themselves about what’s covered under their policy until they need to file a claim, at which point they’re unpleasantly surprised to find they have to pay for damages out of pocket. Opting to do business with an insurer that takes the time to answer your questions and assess your needs can save you headaches down the road.
While our list of top things to buy for your new home doesn’t include any shiny new gadgets, it does list some items that can increase the value of your most important asset while saving you money and potential headaches. Again, look into cost savings and consider your own needs, likes and budget before making any purchase.