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3 Ways Your Home Is Leaking Money (And What You Can Do About It)

Your home is perhaps your biggest and most important investment. Look after it and it will continue to pay dividends in all sorts of ways. Of course there’s the prospect of increasing resale value, but there’s also the non monetary value that you’ll get. Such as the peace and tranquility that comes with knowing that you live in a home of your own and that a substantial portion of your income won’t be wasted on paying off someone else’s mortgage. Still, like any investment, you need to understand everything there is to know about your home… including the ways in which it could be leaking money right under your nose. 

There are a number of ways in which you can (and should) protect the investment that is your home. One of the chief among them, however, is identifying ways in which money might be leaking out of your home and knowing what to do about it. 

Heat loss through your attic and walls

In these cold months, many of us have been relying heavily on our heating apparatus to keep us comfortable. Still, what many of us don’t realise is that much of the heat we feel is escaping out of our homes meaning that we need to keep the heating on for longer lest our teeth start to chatter. 

Venture up into your attic and you may find that your once effective insulation has been compromised by water ingress or rodents burrowing through it over the years. The good news is that Spray Foam Insulation can be applied to your wall cavities and your attic space to help your home stay warmer for longer. If your roof tiles are starting to look the worse for wear, replacing them with metal shingles may be a valuable investment. These can help to seal heat within your home in winter while also repelling heat from the sun in summer. So your home maintains a great ambient temperature naturally without as much reliance on heating or air conditioning. 

Going way past the boiling point

Speaking of heating, your boiler works so hard on your behalf that it’s all too easy to take it for granted. But that hard working boiler may not be burning energy as efficiently as it should and could not only be costing you more in energy use but also be on the verge of giving up the ghost. If you notice any of the following signs it may be time to replace your boiler;

  • Pilot light burning yellow instead of blue
  • Radiators taking longer to heat up
  • Radiators not getting as hot as they used to (even after bleeding them)
  • Funny smells or noises coming from your boiler

According to Metro, replacing your boiler could save you up to £200 per year while even something a simple as switching from a 25mm to 80mm boiler jacket can save up to £20 a year.

Losing track of energy spending

Finally, your home is a financial liability as long as it prevents you from keeping track of energy spending. Only when you can see how much you use without relying on sending meter readings to your energy supplier can you take control of your energy use and identify money leaks. Get in touch with your energy supplier today and see about installing a smart meter. Contrary to popular belief, you can get a smart meter installed even if you don’t own your home. 

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