Utilities

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Grizzy_89

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I am planning to buy a house in the coming months and trying to make sure I can actually afford it.

Any care to share there monthly utilities expense? (gas, hydro, water)

Will most likely be a 3 bedroom bungalow with finished basement

Thanks
 
my house in Mississauga is 3 bedroom, finished basement, 2 stories. House is fully rented out so you can imagine renters love leeching off the utilities.

last month my gas bill was around $150 most of it fixed cost like delivery charges, hydro just over $100, water is not much but I'm renting a water heater that costs something like $30/mth from reliance.

But you have to factor in that winter your utility expenses will be a lot higher and summer too I guess if you like your home air conditioned.
 
Good move... your house will be one of your biggest assets.

A couple of tips.... avoid buying on a busy street, in front of a bus stop, or an empty field (my brother now lives across the street from a huge Home Depot/Canadian Tire).

Gas, Water, Electricity $300.00 (about $ 100.00 per month each -with seasonal fluctuations - pool, lawn watering, winter heating)

Phone, Rogers, House insurance, Property tax - about an additional - $1000.00 per month.

Don't forget to factor in that all utilites will charge you a "hook-up" fee. Plus; add your car/motorcycle expenses, groceries, entertainment etc....

If you haven't done so, "pre-qualify" at the bank - the bank takes these bills into account.
 
And don't forget to factor in closing costs, lawyer fees and land transfer tax into your calculations when you buy. These will add thousands to the final number.
 
SunnY S said:
And don't forget to factor in closing costs, lawyer fees and land transfer tax into your calculations when you buy. These will add thousands to the final number.
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OOOps, forgot that one (it's been a few years). Should we add window coverings and furniture etc....?
 
SeaBreez said:
OOOps, forgot that one (it's been a few years). Should we add window coverings and furniture etc....?
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Go to an open house and take a note pad. Write down all the things you will want to change and ask what comes with the house. Develop a check list. Window coverings, Light fixtures and appliances may or may not go with the house. Lots of oopsies.
 
Please remember that your gas bill will go to as high as $600/month in the winter months and will be as low as $50-75 in the summer months. We have gas furnace, water heater and stove. This winter was VERY mild. I just compared our march number. 600 cu feet of gas used last March, just under 200 used this March. Electricity is not bad for a bungalow, ~75 per month (again, gas stove here). Water is around $100 per month, but can go as high as 300 per month in the summer months if you have a big lawn and want to water it properly.
 
you also need to make sure you have some money saved for house maintenance and repairs such as fixing the roof, plumbing, and any other unexpected problems such as your furnace not working. You don't want to neglect your house for if you want to sell it in the future.
 
Am I ever glad I'm building up north.
Have my own well and septic (no hydro). Property taxes are like 1000-1500 / year.
Dont need a home phone, and I get enough channels on the digital airwaves.

1 acre property, house is a 2 bedroom bungalow style on top of a 3 bay shop :)
 
rmemedic said:
Am I ever glad I'm building up north.
Have my own well and septic (no hydro). Property taxes are like 1000-1500 / year.
Dont need a home phone, and I get enough channels on the digital airwaves.

1 acre property, house is a 2 bedroom bungalow style on top of a 3 bay shop :)
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Unfortunately not all of us can land such a lifestyle, i.e. I am working in downtown TO, so the commute would kill all the benefits of living up north.
 
I'm a 6 hour drive one way. I live where not everyone wants to, especially if you like the convenience of a city.

This thread is helpful even to me though. Such a huge decision.
 
Your costs are largely dependent on the age/quality of your house and your lifestyle. A substantial amount of the costs of operating your home are mostly variable. If you are wise with how you use your energy, you can save a lot. If your attitude is that it's really insignificant to do those little things then things can get expensive fast. Invest in a programmable thermostat, rain barrels for watering plants, turn off those lights, running dryers when you can hang your clothes, save the AC for the hot nights, caulk those drafty windows, and watch for and cancel any unnecessary bills for things you may find yourself not actually using like land lines, cable packages etc.

I just changed my 25 year old furnace and it now runs at 95% efficiency to my old one running closer to 60%. Even with the rebates, that will also save $ for many years. Even if you don't have the $ today, consider saving for those kinds of things a little each month to eventually change those kinds of things that have a large impact on your expenses. Furnaces and windows are big ones.
 
My costs are around $100 per mo for hydro in the winter $200 in the summer A/C
$40 for water
and $120 per mo for gas in the winter and $20 in the summer (min charge Electric hot water)
This is for a 1800 Sq ft cape cod
BTW window are a nice improvement but on the bottom as far as payback goes.
 
Thanks everyone!!

I submitted my offer this evening and it was accepted... closing is set fro August 1st conditional on home inspection and financing (already pre-approved)

Property taxes are about 300 a month and I am budgeting about 600 to cover insurance/hydro/water/gas/cable/internet. I am budgeting on the high side to be safe.

I just turned 23 and this is by the biggest decision I have ever made

I'm hoping I can manage to keep peaches (my 600rr)... wish me luck
 
K
Grizzy_89 said:
Thanks everyone!!

I submitted my offer this evening and it was accepted... closing is set fro August 1st conditional on home inspection and financing (already pre-approved)

Property taxes are about 300 a month and I am budgeting about 600 to cover insurance/hydro/water/gas/cable/internet. I am budgeting on the high side to be safe.

I just turned 23 and this is by the biggest decision I have ever made

I'm hoping I can manage to keep peaches (my 600rr)... wish me luck
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Good on you. Build equity while you're young. Very smart.

Don't worry about the bike. Investment first. It will pay off in the long run.
 
DONT FORGET ABOUT DEPOSITS!!!! and HOOK-UP FEES!!!

Hydro was about $350 for me and GAS was $450...PLUS first month bill...which all came up to about $1000!!....acccount into moving expeneses and eating out and buying MISC supplies the first month.......it got expensive.
 
We are paying...

Hydro about $45 - $55 month
Natual Gas - Winter months $80 - $90, summer months $60....

Not sure how much AC we will use.....good way to save is to use darker drapes and keep windows doors closed during winter months.

Internet is $60 month....but we got first 3 months free?
 
It'll really depend on the system the house has, how old/efficient it is, etc.....

whatever houses you do see, ask the owners for their costs. it'll differ person to person, house to house, usage to usage.
 
Grizzy_89 said:
Thanks everyone!!

I submitted my offer this evening and it was accepted... closing is set fro August 1st conditional on home inspection and financing (already pre-approved)

Property taxes are about 300 a month and I am budgeting about 600 to cover insurance/hydro/water/gas/cable/internet. I am budgeting on the high side to be safe.

I just turned 23 and this is by the biggest decision I have ever made

I'm hoping I can manage to keep peaches (my 600rr)... wish me luck
Click to expand...

Might be easier on first year to have the your property tax paid by the mortgage holder. Saves you an extra head ache.

I know with my house it pay just under 200 every two months for hydro and water. water heater(rental) and funrace insurance is 45 a month. Gas is on equal Billing @ 57. Cable/ internet is 147. Home insurace shouldn't be that much something along the lines of 30 a month depending on area.

If you have good credit they should wave the retainer on gas and hydro.
 
Electricity has been a steady 80 to 90 a month for the last year, Gas has been as low as $25 in summer and as high as $95 in winter. Mind you i have 95% eff furnace and only two people living in the house. water is about $350 a year, no cable, internet is $55 with dry DSL line. Property tax is $1600 for the year.
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