9 Things Frugal People Always Do When They First Buy a House

Young asian couple holding keys of new house, smiling happy and excited moving to a new apartment.
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Frugal people don’t stop saving once they’ve bought a house — they keep looking for ways to make the most of their money. From claiming every property tax exemption to tackling DIY projects, they know exactly how to avoid unnecessary expenses.

Here’s how to follow suit and make sure you don’t spend more than necessary after purchasing a house

Take Advantage of Property Tax Exemptions

Frugal people look for every opportunity to save, including on their property taxes. 

“If you want to be frugal about your property tax bill, there’s no better way to do it than to take advantage of each and every property tax exemption that is available to you,” said Chris Gleason, the founder and CEO at Simplicite Tax Loans.

“Plenty of homeowners fail to take the necessary steps to claim their homestead or primary residence exemption. There are also generally other exemptions for seniors, veterans and disabilities.”

Prioritize Needs Over Wants

Frugal people have a good handle on their budgets and focus their spending on what they actually need instead of things they might want.

Matt Vernon, head of consumer lending at Bank of America, recommended focusing on acquiring essential items for your new home first, such as a bed, sofa and basic kitchen appliances. 

“Create a list and budget for these necessities before considering non-urgent purchases like decorative items,” he explained. “This helps you prioritize ‘needs’ and prevents overspending.”

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Take Advantage of DIY Projects

Frugal homeowners know that they can save big if they tackle home improvements themselves rather than hiring a professional. Considering you could spend $45-$150 per hour to hire a professional to do anything from painting an accent wall to replacing a showerhead, this makes a lot of sense.

“Use online tutorials for guidance on tasks like painting, assembling furniture or installing shelves,” he said. “Investing in multi-purpose tools can be cost-effective and allow you to handle various projects. Start small to build confidence and gradually take on more complex tasks.”

Shop Second-Hand

It might be tempting to buy furniture for every room in your home with so many long-term 0% financing offers available from national furniture stores — but frugal people know better. 

“Consider furnishing and decorating parts of your home on a budget by buying second-hand items,” Vernon suggested. “Check thrift stores, consignment shops and online marketplaces for quality used furniture and decor.”

He continued, “Inspect items for damage and test electrical goods before purchasing. Don’t hesitate to negotiate prices, especially when buying multiple items.”

Use Energy Wisely

Frugal people know that energy costs can put a big drain on your budget if you don’t make an effort to increase the efficiency of your home and curtail energy usage.

“Reduce utility bills with energy-saving measures,” said Vernon. “Switch to LED bulbs, seal drafts around windows and doors and adjust your thermostat. You can even consider a programmable thermostat for better energy management.

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According to Vernon, these changes will not only help you save money but will also support a sustainable home.

Use Coupons and Cashback Apps

Frugal people know it’s not practical to expect to buy everything secondhand. When they can’t, frugal people find other ways to save. 

Jaclyn Anastasakos, a real estate agent at LUXE Properties LLC said when buying new appliances, tools or household items, look for discounts, promo codes and cashback offers.

“Apps like Rakuten or Honey can help you find the best deals and rebates,” she said.

Install a Water Filter

Bottled water is a nice convenience, but frugal people know that paying for those bottles is like pouring money down the drain. . 

“Instead of constantly buying bottled water, invest in a quality water filter for your tap,” suggested Anastasakos. “It’s an eco-friendly and cost-effective way to enjoy clean drinking water.”

Avoid Unnecessary Subscriptions

Buying a new home is like a fresh start, and frugal people always evaluate their current expenses to see what they can reduce or eliminate. 

Anastasakos said you should consider whether you need multiple streaming services, magazine subscriptions or memberships right away.

“Limit them to essentials until you’re certain of what you use regularly,” she suggested. 

Reevaluate Insurance Policies

Frugal people also know not to assume that their current insurers are offering them the best bang for your bank. In actuality, it pays to shop around. 

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“Compare homeowners insurance rates regularly to ensure you’re getting the best deal,” Anastasakos recommended. And keep in mind that “bundling insurance policies can also save money.”

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