Moving is an exciting time! You’re entering a new chapter in your life, turning your latest investment into your very own humble abode, and there is a lot to be enthusiastic about. However, it’s important to never let the excitement get in the way of reality because with a big move comes a lot of responsibility. So, whether you’re thinking about signing on the dotted line or are exploring new cities to move to, it’s important to make sure you can afford it before you commit to it. Here are some ways you can calculate your monthly utilities before you move in.
Talk to The Seller’s Real Estate Agent
The first thing you should do when trying to calculate the monthly utilities of a prospective home is to talk to the seller’s real estate agent. They should have all the information needed for you to determine whether the move is a plausible option for you.
However, it’s important to remember that their numbers are only estimates. Your monthly utilities may be significantly lower depending on your lifestyle. Also consider who currently lives on the property and whether or not that estimate accurately reflects how you’ll live in the same space.
Contact Service Providers in The Area
A simple call to a service company in the area can provide you with enough information to give you a generalized idea of pricing. Home phone, cable, and Internet companies can provide you an exact price on their current plans so you can accurately factor them into your monthly utilities.
Other services, such as electricity and water, can be a little more difficult to get an estimate on but the service providers should be able to point you and your budget in the right direction.
Consider Your Current Usage and Costs
If you’re staying within the same city, you can easily estimate the new cost of monthly utilities by comparing them to your current costs. Just remember to factor in any changes that will play a role in the price, such as roommates or other occupants, large square footage, energy efficiency, etc. If there will be any significant changes, try to increase the monthly utility costs accordingly.
Analyze the Features of The New Home
Things such as the type of appliances, light bulbs, and heating can play a huge part in the overall costs of living. In order to accurately calculate the monthly utility costs, you need to analyze the features of the home to see how much electricity, gas, and water they use. For example, radiator based heating will cost differently than gas heating, and energy-efficient appliances will use less power than older versions.
Think About the Season
It’s also important to factor in the time of year in which you’ll be moving into your new home. Some months require more or less energy, heating, electricity, and water throughout the year. For example, you’ll likely see a spike in your electricity bills during the winter months as you’ll be home more often, using lights more frequently and jacking up the heat regularly. On the contrary, you can expect your electricity bill to decrease come the summer seasons, as the natural light decreases your use of electricity. So, think about the seasons and how your lifestyle changes with each.
Do Your Research Online
The internet can be a great place to garner information needed to calculate monthly utilities. Search the city’s cost of living, and don’t forget to factor in other fees that will affect your budget. Things such as a $2 transportation fees or $5 monthly parking pass can quickly add up.
Once you know whether or not you can afford the move, it’s time to calculate the cost of actually moving. Your humble abode awaits your arrival.