Utility bills have featured heavily in the news recently. With the rates of energy rising rapidly, many have been left wondering what they can do to afford this cost of living increase. From early April, electricity and gas bills are expected to surge by up to 54%, for a large proportion of households. If you are a first-time buyer, this can feel worrying. Buying your first home is daunting enough, without the concerns of escalating bills.
We have collated a simple guide to help you prepare for utility bills in your new home, together with ideas on how you can reduce your outgoings.
What are utility bills?
There’s simply no avoiding it; owning a home means that you will pay, what feels like, never-ending bills! Aside from home insurance, food bills and general home upkeep, utility bills will take up a large proportion of your outgoings. Utility bills are considered to be payments for water, gas and electricity, and are issued monthly, quarterly or annually. Council tax and broadband can also fall into the category of utility bills.
How much does it cost to run a home?
The cost of running a home will vary. It can be dependent on any of the following:
- The size of the home.
- How many people reside in the property.
- Where the property is located.
- How often it is occupied.
- What its energy rating is (dictated in an EPC pack).
Setting up gas and electricity in your new home
When you move into a property, you automatically stay with the same supplier as the previous occupant. Often, the supplier will revert you to the standard rate, so it is important to do your research and negotiate a fair price or, find a company that can give you one. Upon moving in you should:
- Look for your gas and electricity meters. Often, they can be found in a hallway, kitchen or outside the property.
- Find your supplier. This handy website ‘Find My Supplier’ can help you locate which company is providing your gas. You can also use your energy network operator to track down your energy supplier.
- Take meter readings on your first day and give them to the current supplier. If the new home has a smart meter it should automatically give your readings to the supplier. Just ensure that it is working in ‘smart mode’.
Gas and energy money-saving tips:
- Turn off standby appliances.
- Wash clothes at a lower temperature
- Draft proof your home by sealing any cracks in the floors or windows and investing in double glazing.
- Use a smart meter to monitor high energy appliances.
- Add insulation to your loft.
- Replace old, inefficient boilers.
- Install energy-saving light bulbs.
- Use an electric heater.
Water bills in your new home
Unlike your energy provider, it isn’t possible to change your water supplier. Every region will have its own water provider. When you move in:
- Find out who your water supplier is. If you need help this website can locate your water supplier.
- Contact the company to set up a new account. They may ask for a water meter reading if you have one or put you onto a standard tariff.
Water-saving tips
- Have showers instead of baths.
- Replace showerheads with water-efficient ones.
- Fill up your washing machine with the maximum load, upon use.
- Fix dripping taps.
- Use a washing up bowl rather than a running tap.
- Consider a watering can instead of a hose, for outdoor use.
Setting up Broadband
Setting up broadband can be a bit of a minefield. Faced with so many competitors offering a range of deals, choosing the right one takes time. Once you have decided on a suitable company:
- Contact your supplier to set up a new account.
- Your supplier may send an engineer to your address to install a connection. Alternatively, a router will be sent to your address which will set up a connection for you.
- Setting up a new broadband connection can take time so it may be a good idea to organise this as early as possible.
Broadband saving tips
- Shop around to compare deals.
- A bundle can save money if you require a land line, a mobile phone or pay-TV, for example.
- Haggle with your supplier for a discount.
Arranging Council Tax
Council tax provides funds to support your local council. It covers firefighter services, bin collections, local library’s facilities, transport and highway services and much, much more. This handy tool www.counciltaxfinder.com enables you to see council tax bands in your area, giving you the opportunity to budget accordingly.
When you move into a property you will automatically be placed in a band from A- H, with A being the cheapest. This will be dependent on the area, property type and size. To set up you must:
- Contact your local council. They will ask for your personal details and payment will be arranged.
Help with council tax repayments
- Opt for repayment in instalments of 10 or 12 instead of annually.
- If you anticipate problems with repayments, then you can ask for your tax band to be reviewed or you can apply for council tax reduction.
- If you are carrying out building work that makes it difficult for you to live in the property, you may be entitled to a discount or exemption.
Have you moved into a property recently and do you have any money-saving tips that were particularly helpful? We would love to hear about them!