Finding the Monthly Electricity Cost on a New Home

There are many different parts of your home that use electricity. And the amount of electricity they each use has an impact on your overall monthly utility bill. If you are looking at moving into a new home, then you will probably be trying to calculate what your monthly expenses in that home will be. Just like new furniture and landscaping mulch, your utilities are an important expense of home ownership that you need to calculate when determining if you can afford the costs of the new home.

Of course if you are moving into a home that had a previous owner you can ask the previous owner what their average monthly electric bill cost. However, if it is a brand new home it is going to be a little bit more difficult to determine the costs of electricity for the home. You can keep the calculation very approximate and simple by researching what the average cost is for a home of your size. Perhaps your electric company could give you an idea of what a home your size typically costs in your area. If you are building in a subdivision, you may be able to talk to the builder to see if they have any research available for your home size.

But of course, regardless of the size of your home, each person usually electricity differently. And, the more energy conscious person that lives in a large home may actually have a lower utility bill that the wasteful consumer that lives in a small home. So, if you want a more accurate estimate on the costs you will need to do some detailed calculations.

You will need to first determine how much electricity you will likely use per month. To do this you will need to identify every item in your home that runs on electricity. Do not forget to include any lighting, kitchen appliances, laundry appliances, miscellaneous appliances, air conditioner unit and personal care items.

There are calculators out there that actually will determine the costs based on how much you estimate you will use these items daily. However, for this, you will need to estimate for each and every light bulb in your home. And, it is very unlikely that you need an estimate that is that details.

Compare to Your Old Home

So, instead start looking at the usage in your previous home as a basis. Then compare the differences in the need for electricity between the two homes. For example, if the new home has a washer and dryer while your old one did not, then you can anticipate an increase in your electric bill. Yet, if your new oven is natural gas while your previous was electric you will see a slight decrease there. If your new home is larger then it will cost more to keep it cool in the summer time.

There are some costs that should not change simply because you move to a new home because they are based on personal habits rather than impacts of the home. For example, your daily showers are likely to be the same amount of time so the cost used by the water heater will remain the same. The same will be true for the amounts of lights that you use at a time. Finding the monthly electricity cost on a new home can be difficult but an approximate estimate can be made if you adequately consider all of the factors. But the most accurate picture of your electric costs will be once you have lived in the home for a while.

safe secure

Enter your zip code for affordable home owners insurance quotes

GET QUOTES

What People Are Saying

"Thank you for your informative articles on home insurance. I was able to learn what I needed to know for home owners insurance in my state and make a good decision. I found the perfect plan at a great price."

- Todd G, Baltimore MD