The Motley Fool was founded by brothers Tom and David Gardner in 1993. Through our website, podcasts, books, newspaper columns, radio programs and quality investment services, we help millions of people achieve financial freedom.

Motley Fool issues rare "all-in" purchase alert

You are reading a free article whose views may differ from The Motley Fool's advanced investment services. Become a Motley Fool member immediately and have instant access to our top analyst recommendations, in-depth research, investment resources and more. Learn more

For many people, winter is reminiscent of a night spent in front of a warm fireplace, drinking hot drinks, an Afghan, a good book and a pet. This is a holiday where family and friends gather among decorations, movies, music, and plenty of delicious food. You can even build a snowman, make an ice tree, or go skiing or sledding.

If you are a homeowner or real estate investor, you can certainly enjoy all of this. But you may want to consider completing some work first. That's because winterizing your house can save you thousands of dollars.

Let us see what you might need to do, how much it might cost, and how much you can save.

There is no scene more like a beautiful snow-covered landscape. It was spectacular to see that the yard you had been looking at all year turned into a winter wonderland overnight. But the severe winter weather can not only bring beauty to your property. Cold temperatures, strong winds and heavy snow can threaten your home.

Fortunately, careful preparation helps to ensure that your home stays safe this winter and that your utility costs are not too high. It can also reduce the chance of you losing large amounts of cash due to painful repair bills.

Home service company Angi surveyed more than 2,000 homeowners to find out how they deal with wintering issues. The results show that the average homeowner spends $1,316 a year to prepare their home for the winter. The result confuses those who hire each task with the DIY staff, so you can spend less money if you are willing and able to handle some of the chores by yourself. 

Here are some tasks that homeowners can perform before Old Man Winter enters the city.

According to Angi, insulating the pipes with plastic foam pipe wraps is a step that can save a lot of money. How old? Well, a pipe burst may cause you a loss of $3,500. That price tag—not to mention the mess—may be a big hindrance to your holiday celebrations. According to HomeAdvisor, the cost of pipe insulation varies widely, but the minimum is $110.  

Cracks around doors and windows allow cold air to enter and increase heating costs. Caulking, using foam or rubber weather strips, or installing a door sweep under the outer door is a low-cost repair method that can help you keep more money or spend it on better things-like yours Holiday parties and gifts.

When all the lovely snow melts, you don't want the sink to fill up with water and become clogged. The result may be water damage or broken drains, unable to divert all the water from your foundation. This is why you want to make sure your drains are clean before winter.

And don't forget the comfortable fire. On cold winter nights, the atmosphere of the fireplace is difficult to break, but the fireplace does require maintenance. According to HomeAdvisor, you need to pay about $252 a year for chimney sweeping. Starting a fire when soot and ashes accumulate in the chimney is a house fire risk, so it is not very good for the peace of mind brought by cleaning the chimney.

Another reason for not letting it go for too long? When you have years of accumulation, hiring a chimney sweep can raise the price to $800. 

If you are not sure where to start, or if you have not had the winter recently, Angi recommends that you hire a local handyman for a drill. They can point out what needs to be done and what may need to be updated, and provide estimates. Then, you can view in detail what will be involved in each step of the house overwintering to understand which tasks (if any) you can solve by yourself.

Like many things in nature, winter is both awesome and devastating. Fortunately, a little preparation can greatly protect your investment. Whether you are a homeowner or an investor, knowing that you are ready for everything that winter may bring can make you feel warm and comfortable throughout the season.

Why should we invest in this way? Learn more

*The average return of all proposals since its establishment. The cost basis and return are based on the closing price of the previous market day.

Market-leading stocks from our award-winning service.

Calculated based on the average return of all stock recommendations since the launch of the stock advisory service in February 2002. Returns as of December 14, 2021.

The discount offer is only applicable to new members. The price of the stock advisor is $199 per year.

Since 2002, time-weighted returns have been calculated. The volatility distribution is calculated based on the past three years of the standard deviation of service investment returns as of January 1, 2021.

Use Motley Fool to invest better. Get stock recommendations, investment portfolio guidance, etc. from Motley Fool's high-quality services.

Make the world smarter, happier, and richer.

Market data powered by Xignite.