Why it's important to focus on utility costs


Why it's important to focus on utility costs
By Scott Rogers • October 30, 2011
Let's start here, with a passionate narrative from a friend and blog reader (thanks Tony!) who recently bought a home here in Harrisonburg.... Boy do I regret not asking for utility data for the house we bought last year near Memorial Hall--ugh! What a leaky old house we bought, totally unawares. $750 for oil for just the month of January alone. Alert! Alert! Depending on the age of the home you are buying, it can be very important to ask for utility data. But it's a bigger issue, as Tony reveals.... We all are flying on the same plane at some level. We start in January and end in December. But everyone on this plane called Harrisonburg housing is paying a different utility fare. That's not too surprising -- some of us are frugal, some are not; some of us are in smaller houses, others in mansions; etc. But I think this cost of utilities -- not just for 30 years, but forever -- is really a sleeper issue when it comes to buying a house; particularly when your utilities are based on fossil fuels. Think the price of coal-fired electricity is going to go down? I don't. Think the cost of heating oil is going to go down? I don't. Natural gas? Etc. Tony raises a great perspective for us to keep in mind -- we can think (as a home buyer) that we have all of the costs nailed down and entered into our monthly budget -- but if we forget the variability of utilities, we're in trouble. Perhaps you live in a home now that averages $150/month for heating, cooling and electricity costs. What if you purchase a new home and that jumps up to an average of $350/month. Perhaps you made your new budget based on $150/month? So at first glance, it's important to ask the sellers of a house you are considering for some utility history. But wait -- that's not even entirely helpful because they might keep the house tremendously colder or warmer than you would prefer. Thus their heating, cooling and electricity costs could be much lower than you would experience once you move in. So what is the answer? Well, Tony goes even further, with a hope and goal of putting large amounts of data to work for us.... Wouldn't you like to know who got the best "fare" in your neighborhood--and how, and at what investment price? Indeed it would be nice to have this type of data. Imagine being able to take the utility costs for the home you own OR the home you might buy and compare them to other similar houses in terms of age and square footage. All of a sudden you'd be able to not only estimate your own costs, but you'd also be able to know whether the home was more efficient than most, or had significant energy efficiency challenges. Here's to hoping for a future where information about utility use is more easily available and more widely analyzed. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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