August 18, 2014

How to Estimate Utility Costs for a New Home

Utility meter and calculator

If you are like most, you probably keep your finances in order by staying on a budget. But if you are moving to a new home, it can be hard to set up your budget if you don't know how much the utilities will cost each month. So how do you estimate utility costs for your new home?  Here are a few ways you can get estimated utility costs to work with before you move.

  1. Look at your current bills: Take note of your current usages. If you can see how much energy, gas or water you are using now, this can be a good indicator of how much you will use in your new home if it is similar in size or as a baseline if you are moving into a larger or smaller home.
  2. Ask about previous bills: Call your new power, gas and water providers to find out what the previous owner’s average and low/high bills looked like. At the very least, you should be able to get average utility costs for the neighborhood.
  3. Use online estimators: Getting an online estimate will not be exact, but it can give you a good idea of how much you may end up paying for your utilities. Home Energy Saver offers a free online tool to help you do just that.
  4. Get a home audit: If you are really concerned about the utilities in your new home, consider having someone come out and do a home audit. This will not only help you determine what your energy costs will look like, but you will also learn new tips for decreasing your usage and how to improve your home's energy efficiency.