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Before you buy that home, avoid utility bill shock

Posted on November 10, 2016 by Community Real Estate

Source: CNBC

Housing affordability isn’t just about your monthly mortgage or rent payment. Utility bills can also add up.

Median spending on utilities is $2,715 per year – or $226 per month – for single-family homes, according to a new analysis from real estate website Trulia. Even when you’re comparing homes of similar sizes and prices in the same region, it found, energy costs can vary widely based on factors like the local utility providers’ rates, the age of your home and the size of the lot it sits on.

To avoid a surprise, ask about utilities during your hunt. Real estate listings often include estimates, but it’s smart to ask for a copy of recent statements to see real numbers.

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