6 Money Tips I Wish I Knew as a New Homeowner
I’ve been a homeowner for 4 years, and looking back, there are a few things I really wish someone had told me from the start. These tips have saved me thousands—hopefully, they help someone here too:
1. Your home equity is powerful—use it wisely.
Instead of turning to payday or high-interest personal loans, consider a HELOC (home equity line of credit) if you’re in a pinch. It usually comes with way lower interest rates and more flexibility.
Not a fan of debt? Check out equity-sharing options like Hometap, where you sell a portion of your home's value without taking a loan.
2. Switch auto insurance regularly.
I cut my premium by $1,300 just by switching carriers—same coverage.
If it’s been over 6–12 months, get a quote. You might save a few hundred bucks a year with almost no effort.
3. Don’t trust Amazon (or any site) to give you the best deal.
I use Capital One Shopping—it automatically checks for lower prices and coupon codes across the web. I'm normally anti-browser extensions, but this one actually saves me money.
4. Financial advisors aren’t just for the rich.
If your net worth is $100k+, you likely qualify for an advisor.
The average benefit? About 3% better yearly returns, mostly from smarter tax planning.
5. You can ask for help with debt.
If you’ve got $10k+ in debt, debt relief companies can negotiate with creditors for you. According to NDR, average users save about 23%, even after fees.
6. Re-shop your home insurance.
I saved more switching home insurance than I did with auto.
A quick check can save you $1k+/year—definitely worth the few minutes.
Hope this helps someone else avoid the mistakes I made early on. Happy to answer questions or hear other homeowners’ tips!
#FrugalLiving #HomeownerTips #MoneyHacks #SaveMoney #DebtRelief #HELOC #InsuranceSavings #FinancialAdvice #CapitalOneShopping #FrugalHomeowners
