Anyone who has bought a home knows that home ownership is expensive, beyond that monthly mortgage payment. A new report shows some of the other expenses have gone up sharply in the past year.
Everywhere you turn, prices are up. On groceries, new and used cars, and those monthly bills you have to pay. A new report by saveonenergy.com, which is an online comparison marketplace, said that 89% of homeowners noticed a cost increase in utilities and services during this past winter.
The biggest hike? Electricity. Sixty-eight percent of people said their electric bill has gone up and 52% said they were hit by an increase in gas services, whether natural gas or propane, and 45% saw an increase in their water bill.
Lastly, 41% saw their cable and streaming bills go up. The only home services seeing little price changes are landscaping, landline phones, and trash pickup.
And, from the doesn’t that Stink file: other rising costs that come with owning a home.
CNBC states other prices that have gone up recently are the following
- Property Taxes, especially as home values rise.
- Home insurance, especially in Flordia and other storm-prone areas.
- Handyman costs, as they pass on rising fuel prices and other costs
- Lawn Care costs, due to the soaring cost of fertilizer.
While renting may seem cheaper, remember that you are not building up equity when you sell and that every rent dollar you spend is a dollar more.
