Ways Your Home Could Be Leaking Money – And How to Fix Them

Last Updated on May 10, 2023 by Kimberly Crawford

While owning a home is most people’s biggest dream, it doesn’t come without a fair share of costs to cover. But even then, your home ownership costs do not necessarily have to hurt your finances.

For inspiration, read on as we cover some common causes of money leakage in the home – from water wastage to air leaks – and how to quickly fix them.

1. Water Wastage: Diagnose and Fix Plumbing Leaks

water leaking

Are you constantly paying for water that you’re not using? When you have a plumbing leak, your water bills will be higher than normal because of this waste. Estimate where the leaks are from and hire someone if necessary, as serious problems can abound if left unchecked.

To diagnose water wastage yourself, start by listening for running water or other unusual sounds in pipes when turning off the main switch to check for air leaks. Looking for standing water or constant dampness? Check around the edges of any appliances or fixtures connected to a water supply and exterior plumbing valves.

Leaks in your pipes can be caused by age, improper installation, natural wear-and-tear, corrosion, or mishandling during maintenance—but no matter what’s behind it, catch it swiftly before serious damage occurs!

2. Heating and Cooling: Repair or Upgrade Your HVAC System

If your energy bills have recently been skyrocketing, chances are your current system isn’t operating as efficiently as it should be. In this case, the folks over at cwaohio.com, a renowned provider of heating services in Columbus Ohio, would recommend speaking to a professional HVAC company.

Whether they recommend repairs or upgrading to an energy-efficient system, both options can help bring your power bills down significantly.

Also, a newer system would provide greater control over temperature and allow for quick adjustments depending on the weather outside. If upgrading is too expensive an option right now, make sure you increase insulation in any rooms not receiving enough heat or air conditioning – this could save a surprising amount of money in the long run.

3. Air Leaks: Seal Drafts to Reduce Energy Usage

Drafty rooms can be expensive, particularly if you’re living in an older home or one that lacks insulation. Make sure door and window frames are properly sealed with weather stripping and caulking, as small air leaks here can add up to lost dollars on your utility bill over time.

Also look for signs of wear in attic access panels, basement doors, windowsills, exhaust fan covers – any area where two building materials meet and there’s potential for a draft or leak. Caulk is relatively inexpensive and easy to apply, so don’t hesitate in taking the steps necessary to keep your home snug as a bug!

4. Poor Insulation for Doors, Windows, and Walls

Improperly insulated doors, windows, and walls can also cause drastic energy loss. Not only does it make your home drafty when the seasons change but can ultimately cost you more money than necessary on monthly bills.

To prevent this from happening, you should focus on home insulation that’s been designed to form a tight seal and block the exchange of both cold and warm air.

You can easily add insulation yourself or hire a professional. Either way, it’ll be worth it in the long term when your energy bills become consistently more manageable due to properly sealed doors/windows and insulated walls.

5. Improper Usage of Electronics and Appliances: Unplug When Not in Use

Appliances and electronics not only require energy to keep running but they also use energy while plugged in, even when on standby mode – called ‘vampire’ electricity.

For old TVs, printers, and routers, it’s best to unplug these appliances or turn them off at the wall switch when not in use. On laptops and mobile phones, enable energy-saving settings that shut down when not in use to keep them from pulling unneeded electricity.

If you’d like to take it further, guard yourself against energy waste with power bars attached to the wall sockets. These will help ensure all devices are correctly turned off, and perhaps even warn you if anything is unintentionally left on!

6. Improve Cooking Efficiency: Upgrade to Energy-Efficient Appliances 

Upgrading kitchen equipment to modern, energy-efficient models can not only help you save money on your electricity bills but it is also eco-friendlier and too often overlooked when attempting to increase the efficiency of the home.

Consider swapping out old hobs and ovens for induction or infrared technology as they use considerably less energy and will heat up faster. This cuts down on wasted energy and can lower your cooking time as well.

Similar advances in dishwashers mean utility bills can be lowered substantially as well. Keep an eye out for those with low-flow nozzles and interior heaters, and consider products that let you accurately adjust water temperature settings and wash cycles. Taking these steps means fewer waiting times for the dishes to finish washing, plus lower electricity costs.

By bearing these tips and improvements in mind, you should be able to reduce energy bills around your home while offering maximum comfort and convenience. It’s time to stop losing money – start identifying those potential sources of household leakage right away!