Homeowner New Year's Resolutions

Whether you see the New Year as a time to start fresh on new endeavors or not, you can take advantage of the momentum of your holiday hustle and bustle to get started on some projects around the home.

Since recent years have brought widespread financial pressure, it makes sense that many homeowners will be focusing on saving money and getting their finances order this year. Utilities—especially in the wintertime in Michigan—make up a formidable chunk of the budget. So it makes sense that many homeowners will be re-evaluating their energy usage this year: how efficient are your appliances? How much electricity do you use each month, and how much do you really need? Are you wasting power (and money) due to drafts? There are a few ways you can answer these questions:

• Some homeowners are investing in getting energy audits or smart meters to monitor and moderate their energy usage.
• Others are trading in old, energy-sucking appliances for newer efficient models. A recent Harris Interactive survey cited in this article found that 49% of responders said they would spend more money on a new, energy-efficient appliance if its use meant they could save money over time.
• Check your windows and doors to make sure they are properly sealed. If you have cracks, you’re probably losing heat, driving up your bills. Poorly-installed insulation could also be a culprit.

Homeowners trying to cut costs aren’t the only ones making resolutions. Home buyers are also gearing up for their new year, organizing their financial affairs to prepare for a streamlined buying process, getting pre-approvals for loans, laying out the year’s budget and navigating a real estate environment where sellers may be reluctant to negotiate amid falling home prices. In turn, home sellers may find themselves reinvigorated, putting in the time it takes to spruce up their homes so they’re in top selling shape.

As a homeowner, buyer, or seller, what are your biggest real estate goals this year?

www.pattimullen.com