10 easy money-saving tasks for home owners during the COVID-19 lockdown

If there’s one positive aspect of the current COVID-19 lockdown, it’s that most of us have a little extra time on our hands. And for home owners who use this time wisely, it can translate into real
cash savings.  We here at JW Prestige Agents are always looking out for our valued clients, especially during these uncertain times. So, we’ve put together a list of ten simple tasks that you can do during isolation that will put money in your pocket.

Refinance your mortgage
Are you getting the best deal on your mortgage? Chances are you’re not and there’s a better
product out there waiting for you. Make sure to consider smaller, online institutions in your search,
or use a reputable website tool that makes comparisons easier. If you’re not ready to switch
institutions, try to negotiate a better interest rate.

Lock in some bargains
As retail spending stalls, now is a good time to shop for any furnishings or homewares that you’ve
had your eye on for some time. Keep a close watch for clearance sales and discounts, and don’t be
afraid to ask for a better price, particularly on higher-cost items.

Shop around for better insurance
When was the last time you obtained a few quotes for your building and contents insurance? If you
can’t remember, then maybe it’s a good time to review your policy. Shop around for a different
insurer, and take a close look at your policy and check things such as the insured value of your home,
additional benefits and flood cover. Make sure it’s accurate and get rid of things you don’t need.

Solar panels and energy efficient light globes
Investing in solar energy is a great long-term investment that you can make through your home,
particularly if your household is a heavy consumer of power. Plus, even if you decide to rent out your
property, you can still receive solar credits by writing it into the lease agreement. Replacing tired old
globes with newer, greener alternatives will also make a difference to your electricity bill over time.

Improve water efficiency
Increasing water efficiency in your home is both cost-effective and environmentally friendly.
Consider upgrading old toilets, taps and shower heads with ones that maximise water savings. If you
rent your property to tenants, this will allow you to pass on water consumption charges.

Cheaper electricity and gas deals
There’s one sure-fire way to obtain a better gas and electricity deal: shop around! Many providers
offer discounted packages for doing things like paying for your power in advance, so make sure you
do your research. This is a job that can save you big dollars.

Do a rental market appraisal
Once lockdown restrictions begin to lift and the economy starts ticking again, consider speaking with
your rental manager about conducting a market review for your property. Often over time, rental
markets can shift, especially with new local infrastructure or improvements to your property. You
don’t want to be missing out on extra rental income.

Home DIY
Regardless of how talentless you may be on the tools, there’s always a job within your skill-set. A
fresh coat of paint is a good starting point. Or what about some simple garden improvements? For
an even better list of value-adding DIY tips, see our previous article located here. Home
improvements increase property value, which can lead to a better sale price down the track.

Review your pay tv subscriptions
While pay TV and streaming services have been a lifesaver for many in recent weeks, are you getting
a good deal? There have been a number of providers that have sprung up in recent years, so perhaps
there’s another service better suited to your taste, and your wallet.

Home internet
Another easy money saver. There are many internet service providers out there, with many smaller
providers offering much more value than larger, well-known companies. Also worth doing if NBN has
recently become available at your address.