Preview

Pros And Cons Of A Frugal Homeowner

Good Essays
Open Document
Open Document
488 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Pros And Cons Of A Frugal Homeowner
Owning a home can be expensive at times. Saving money where you can is never a bad thing. But, there is a difference between being frugal and being cheap.

A frugal homeowner only spends money when it is needed. A cheap one uses quick fixes and half-baked ideas to avoid spending money. In the end, the cheap homeowner will need to pay out the big bucks to fix the minor problems that turned into major ones.

Are you a frugal homeowner or are you a cheap one?

Six Signs You are a Cheap Homeowner

Putting off basic maintenance to save some money. It is so easy to ignore basic maintenance around your home. A bit of flaky paint here or there is no big deal. Actually, it is a minor problem that can become a big one. Sun can break down the paint, exposing the surface beneath to damage. Fixing the underlying surface will definitely cost more than repainting it.
…show more content…
Doing the work yourself is definitely a way to save money on home projects. However, some jobs are just too complicated or too big for the average homeowner's skills. If you don't know how to properly sand your new wood floors, bring in the professionals. Otherwise, you may find your new wood floors have dings, dents, and uneven spots that cannot be fixed.

Refusing to pay retail prices. Comparing prices to get the best deal is definitely a smart thing to do with any major home improvement project. However, refusing to make the purchase until you get wholesale prices can end up costing you more than you might think. When your ideal tile goes on clearance, you may find that you cannot get enough to do the job.

Not using the right tools for the job. Some jobs require special tools for the best outcome. Trying to paint with a cheap brush will leave you with uneven color and a sloppy looking finish. Trying to remove a special fastener with the wrong tool can cause irreperable

You May Also Find These Documents Helpful

  • Satisfactory Essays

    GDP11 Unit10 Rep046 13 S

    • 303 Words
    • 2 Pages

    Buying a home is a process that many of us will go through in our lifetime. If we are like many other prospective buyers, we will experience this major decision three or four times in our working years. A home is often the largest purchase we will make, and it therefore deserves our careful attention.…

    • 303 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Look at your take-home pay and living costs—and how those numbers will change when you move into a home. Even when you factor in the mortgage deduction you'll be able to claim on your taxes, in some areas renting may still be more economical than buying. Personal factors such as your age, family size, health, and career help you to answer some of the following key…

    • 836 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    The purchase of a home has many benefits in the economy. The way the strength of the economy as a whole can affect the marginal benefits and the marginal costs associated with the purchase of a home are interest rates and home values. If the economy is good the value of homes typically increase, and interest rates will be driven by prime rate which is set by the Feds. When the rate is low people want to buy or refinance, but when the economy is poor there are fewer buyers because there job market is tough and banks will slow down lending by making it tougher for people with credit problems to buy a home.…

    • 262 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Com 156 Week 3 Assignment

    • 602 Words
    • 3 Pages

    In conclusion, it has been shown that renters will pay less for their living arrangement. Renters also do not have some of the worries that a homeowner does. A renter is not responsible for upkeep and maintenance on the place in which they reside. Renters also several amenities included at no extra cost that homeowners would have to purchase separately. The savings of becoming a renter keep adding up and it almost seems a waste of money to become a homeowner. The final decision is always up to each individual, but the savings of renting is a strong persuading factor in the decision of whether to rent or…

    • 602 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Xeco 212 Week 1

    • 469 Words
    • 2 Pages

    Purchasing a home is likely the most monumental commitment one will be faced with. This deduction is based on the overall cost of purchasing a home, the average length of a mortgage, and preparation for home repairs. It is naïve to believe that portions of all the decision making principles would not at some point factor in with such a long term investment, any errors in the decision making process would create long term financial hardships.…

    • 469 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Price objections are one of the biggest obstacles salespeople have to conquer. There are two important points to keep in mind concerning price resistance. First, it is one of the most common buyer concerns in the field of selling. A salesperson must learn to negotiate skillfully in this area. Secondly, price objections may be nothing than an excuse. Price can be a barrier while selling to a transactional buyer. Buyer 's generally raise a price-based objection under three circumstances.…

    • 1245 Words
    • 5 Pages
    Good Essays
  • Better Essays

    First Time Homebuyers

    • 978 Words
    • 4 Pages

    No one really realizes the time and patience it takes to get a first time home buyers loan. The first and most critical step in homeownership is getting the right mindset. This principally involves making all the key financial decisions. The current financial situation of the person will determine the amount to be spent on a home loan. Financial factors like income, credit worthiness, person’s debt and the amount available for a down payment if requested, will be studied carefully to determine how much loan will be offered to the individual. Some banks will even consider debt consolidation to help eliminate the person’s debt, which could potentially help their credit score. Some will even recall the question of renting over buying and here is why, a home is an investment. When you rent, you write your monthly check and that money is gone forever. But when you own your home, you can deduct the cost of your mortgage loan interest from your federal income taxes, and usually from your state taxes. This will save you a lot each year, because the interest you pay will make up most of your monthly payment for most of the years of your mortgage. You can also deduct the property taxes you pay as a homeowner. In addition, the value of your home may go up over the years. Finally, you'll enjoy having something that's all yours - a home where your own personal style will tell the world who you are. (Common Questions from First Time…

    • 978 Words
    • 4 Pages
    Better Essays
  • Better Essays

    People purchase manufactured homes because they are cheaper. They also love the idea of being able to choose their own floor plan, they have a more open layout, and they have more square footage for the amount of money that was spent. Some may believe these are huge advantages. Although purchasing manufactured homes have their advantages, they also have their disadvantages. People should not buy manufactured homes because; the consumer will experience big financial burdens. They are not energy efficient, and trying to finance or resell them is difficult. In this, one will see…

    • 1835 Words
    • 8 Pages
    Better Essays
  • Better Essays

    Renting vs Buying

    • 1713 Words
    • 7 Pages

    Picking a place to live is one of the biggest decisions we make in our lives. It is a decision that is not to be taken lightly and must be planned out way in advance. One thing you need to decide is whether you want to buy or rent a home. There are pros and cons of renting and buying a home; and you need to be able to decide logically what is going to work best for you.…

    • 1713 Words
    • 7 Pages
    Better Essays
  • Satisfactory Essays

    Business

    • 405 Words
    • 2 Pages

    Despite the current struggles of our country and the fluctuation in the economy, people will always need to buy houses. Many Americans cannot afford to buy a house in one payment. Since 1929, Americans were provided with different options in order to make their decision of buying a home more comfortable and affordable. A 30-year mortgage rate on a home is vital to the development of new families. This allows families to start a healthy line of credit with minimal risk. Also for new homeowners, government grants can help cut the cost of housing. A 30-year fixed mortgage rate along with a government grant can help new homeowners afford their…

    • 405 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Matt and Caroline are a young couple from Tennessee just out of college and ready for the next chapter of their life. Matt is a part-time landscape photographer that travels many miles to and from his college town of Knoxville to capture the unspoiled scenery of the Great Smoky Mountains. In her spare time, Caroline visits historic home sites in the foothills of the mountains to inspire her free-lance writing. Like most couples starting out, Matt and Caroline are looking to purchase their first home. Finding a move-in ready home seems impossible, so they consider building a house to suit their budget and needs. A traditional house is on average two thousand square feet, but for a young couple spending most of their time outdoors square footage is not really a necessity. The tiny house movement has people like Matt and Caroline trading the traditional house for a more affordable lifestyle in a mere six hundred square feet or less. In comparison to a traditional house, a tiny house is more economical, efficient, and can encourage people to collect life experiences not material things.…

    • 886 Words
    • 4 Pages
    Good Essays
  • Good Essays

    worth. Many people came to the conclusion that it was cheaper to rent than to pay the mortgage…

    • 856 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Essay On Homeless Home

    • 479 Words
    • 2 Pages

    The cost is a major deal in world because you have to have money to spend it.The water bill and the heating and cooling bill is like three times less than a regular house because it's less room you have to cool or heat up . Costs of a regular house to a tiny house is a big margin between the two .Tiny house can cost up to three times as lower that a regular house.…

    • 479 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Unless the item is brand new it will most likely require a little cleaning and maybe a light sanding. Using a fine grit sandpaper and light pressure will usually remove any surface rust or rough areas. A mild soap such as dish soap and a bucket of water will clean most items very well. Thoroughly dry the item before beginning to paint. Some items may need to have areas protected from paint. Masking tape is especially helpful for doing that on both wood and metal. Spray painting is a process that is best done outdoors whenever possible. The area being used to paint in should be well ventilated and protected by using either a large piece of plastic or cardboard.…

    • 438 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Lowcost Housing

    • 805 Words
    • 4 Pages

    Low Cost Housing is a new concept which deals with effective budgeting and following of techniques which help in reducing the cost of construction by using locally available materials along with improved skills and technology without sacrificing the strength, performance and life of the structure.…

    • 805 Words
    • 4 Pages
    Good Essays