So, you’ve decided to buy a house and move into a new neighborhood. There’s nothing like the fresh smell of new paint, the sound of new rain falling on your roof, and the knowledge that you’re finally getting some privacy and peace of mind in a place that you could never afford if you weren’t a homeowner. However, there’s also the financial burden of paying the mortgage, the upkeep of the home, and the added stress of a new neighborhood. To help your new community, here are some tips for homeowners that will help save you money and resources.
If you don’t have enough money to pay for a mortgage, you’re not alone. According to a study done by the Center for Housing Policy, a quarter of all renters in America are spending over half of their income on rent. This is why the government now encourages housing associations to look at ways to save money, not only to keep their housing stock available for renters, but also to keep the money they make available for services (such as schools or parks) closer to their local residents.
A lot of people believe that technology has caused a housing crisis in the United States, because of the money it costs to live. Some blame technology for the general increase in prices, while others blame the government that gives tax breaks to the wealthy and cuts the funds for the poor. So, how does technology help the housing market? Technology is a tool that can be used in many different ways to change how we approach life and build our homes.
One of the most common challenges that housing societies have is exceeding their monthly/annual budgets and being unable to successfully decrease expenditures owing to a lack of understanding of new software and technology that can assist with budgeting and financing. Here’s how to do it:
App-based security can take the place of expensive security systems.
Although CCTV surveillance is a must-have these days, additional security systems such as Access Control Systems, remotely operated sliding security gates, perimeters, and electric fences can be eliminated.
The most cost-effective option to protect privacy is to subscribe to a monthly app like MyGate, India’s leading society management app. It is based on a passcode verification system, with only visitors who have received a one-time password being granted admission after being confirmed by a security guard at the gate.
It saves time because no pen and paper registration is required, hence there is no line at the gate. The password verification takes about 5-7 seconds to complete.
Accounting Made Simple
The treasurer or secretary of a society must devote a significant amount of time to maintaining general accounting ledgers, receipts, and cash books, among other things. They also have to deal with the tedium of collecting maintenance bills, which are delivered in cash and checks by a number of residents on a monthly basis.
Rather than spending money on different programs like Tally or Excel, as well as paper ledgers, you can simply use the accounting suite incorporated in society management apps, which allows you to:
Create individual online bills for each unit, send unlimited email and text alerts, and accept payments via mobile wallets and mobile banking.
Consolidate payments, apply penalties, and keep track of vendor, staff, and utility payments all in one place with customizable accounting categories.
This saves money by limiting the number of persons who can manage all of society’s annual and recurring accounting with restricted access to only one or two people.
Among the unique features are:
Documents, bills, receipts, and group/individual invoices can be quickly uploaded and downloaded.
Readymade templates with GST calculations, P&L reports, and other defaulters, collection list, etc.
Admin can easily store and retrieve documents due to well-organized and accessible sections, whereas searching for old files and historical logs in physical registers or different excel sheets takes time, and many hands are required when it comes time to consolidate all financial records during the annual audit.
Budgeting can be done ahead of time using a variety of accounting software.
Without Hiring Excessive Manpower, Managing Complaints And Amenities
Residents can book their preferred slots to use the clubhouse, gym, swimming pool, and other amenities using the built-in calendar in society management apps.
Residents will save time because they will not have to wait in line for their turn. There’s also no need to hire multiple facilities managers to handle each unit separately because everything can be handled by a single helpdesk executive who can pre-configure the number of slots per household and monitor usage through the app.
Complaints can be resolved in-app by filling out an online form. Residents can book a complaint online, which they can track as pending, open, or in progress, rather than wasting time calling the security guard or managing committee members when there are problems with the plumbing, electrical, or elevator.
This not only saves everyone’s time, but it also eliminates the need for servicemen to be called multiple times for consultation because all complaints are streamlined and resolved without delays or additional fees.
There are many technologies available to help home owners conserve energy. Some of these include solar panels, insulation, and smart thermostats. A good way to find out the best deals is to use a comparison website such as Simply Switch, as you can put in your postcode then see what deals are currently on the market in your area.
Frequently Asked Questions
What technologies are available to home owners to help them conserve energy?
There are many technologies available to help home owners conserve energy. Some of these include solar panels, insulation, and smart thermostats.
How can technology help us save energy?
Technology can help us save energy by using less electricity and reducing our carbon footprint.
What are three ways that technology has contributed to energy conservation in the home?
The three ways that technology has contributed to energy conservation in the home are as follows:
1. Energy-efficient appliances, such as refrigerators and dishwashers
2. LED lighting
3. Smart thermostats