Home Buying in Oyster Bay>Question Details

bgreen7676, Home Buyer in Northport, NY

I am house hunting in the Suffolk/Nassau border area. How can you estimate the cost of utilities? Is there a basic formula?

Asked by bgreen7676, Northport, NY Wed Aug 29, 2012

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Alexandra 917 902 2873
0 votes Thank Flag Link Fri Feb 1, 2013
Utilities are based on individual usage, how well the house is outfitted for conservation and several other guidelines.

The best that can be done, when a property has been identified, is to ask the seller to share their annual cost information with you.

Even if a house creates high bills, look to see if there are ways to conserve that the current homeowner has not utilized.
0 votes Thank Flag Link Thu Aug 30, 2012
Unfortunately not, as every home and every person's usage will be different. As suggested below if you find a home you like you can ask the owner for several past months bills and make a somewhat educated guess from there. Also as someone suggested there are ways to make a home more energy efficiant to lower your bills, some fixes are quite cheap. There are still a lot of great buys out there, try not to buy something where you can't afford to turn the lights on. You want to feel comfortable in your new home, physically and financially. Good luck!
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803
0 votes Thank Flag Link Thu Aug 30, 2012
Thank you all very much. It is hard to determine what one can afford when the price of utilities can vary so greatly.
0 votes Thank Flag Link Thu Aug 30, 2012
Locate a property of interest, then advise your Real Estate Agent that you would like to make an offer, but first you wish to review several months of the utilities bills from the seller. Then you can best decide.

Good Luck !

Joseph Asaro, ABR, CBR
NYS Real Estate Agent

Century21AA Realty Inc.
Cell 516 - 410 - 5818
0 votes Thank Flag Link Thu Aug 30, 2012
Keep in mind that when it comes to utilities it all depends on property size, usage, etc.; therefore you can ask the current seller for an estimate of costs, or contact the utility companies directly.
0 votes Thank Flag Link Thu Aug 30, 2012
No there is no basic formula. it depends on many factors: how well insulated the house, how efficient the heating system, usage by the persons living there (do they want heat at 68 or 75 degrees, do they turn out lights when leaving the room/house), and the never-certain cost of fuel which drives costs. There are things you can do to control costs like turning out lights, using cfl bulbs where possible, insulating & caulking, adding a sweater indoors in winter instead of turning up the heat.
Paige Dawson, Laffey Fine Homes
0 votes Thank Flag Link Wed Aug 29, 2012
You would want to find out the utility company serving the area and get a sense of their rates. Your utility cost will depend on your personal usage, it will also depend on the age and efficiency of appliances, furnace, AC etc. If you made an offer on a home you should request a twelve month period of utility bills; an analysis of these should be helpful.
0 votes Thank Flag Link Wed Aug 29, 2012
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