Home renovations blog: Slash your energy bill

By the resi financial blog team, 19 June 2014

How to save on your energy bill

Let's face it: Even if you've got the cheapest fixed home loan available, you're still going to hate receiving an expensive power bill. 

Fortunately, we've rounded up some of the best power-saving tips, to help you reduce your energy bill, even in winter!

Lock up the heat

If you warm up your living space each evening when you get home from work but don't draw the curtains, you may as well be throwing money down the drain.

In order to say goodbye to a big-figure power bill, you need to focus on using energy efficient heating options, but you also need to contain the warmth.

Thermal-backed curtains are certainly worth the investment, as they'll keep your living space - not to mention bedrooms - cosy during the winter. Plus, you can draw them during the summer in order to keep your home cool, too.

Evaluate your definition of "squeaky clean"

Now, we wouldn't advocate ditching your personal hygiene habits in order to slash your power bill. 

However, if you could bake a cake in the time it takes to have a shower, you're probably wasting time. Encourage the whole household to have shorter showers, for starters.

If your showerhead's flow is as strong as a jet engine, it might be worth switching it for a water-saving variety in order to use less hot water.

Make sure your hot water temperature is set to the right level, too. Energy Australia recommends setting it to 50 degrees celsius.

Look into Insulation

Insualtion is a highly effective and practical way to reduce your energy bill in both winter, and summer, by acting as a barrier to heat loss, or gain. Half of the energy used to heat, or cool your home, can be lost without insulation. As such, it is a valuable investment.

Refiancing, or accessing a line of credit can help you finance the inital costs of installing insulation, allowing you to benefit from reduced energy bills faster. 

As there are many insualtion products on the market, it's important to seek the advice of a qualified builder, or insulations installer.

No matter whether you've got a first home loan or are onto your third or fourth property, reducing your energy expenses is always going to help leave you with more money in your back pocket.

Categories: Home Loans