Tips to help avoid the rise in home costs
Bankrate: Typical American spends $329 a month on utilities, and trash and sewer services
(InvestigateTV) — The National Energy Assistance Directors Association (NEADA) reported that “oen in four households could not afford their energy bill at least once in the past year.”
Cherry Dale, a financial coach with the Virginia Credit Union, said now is the time to go over your household budget and maybe increase the costs for gas or electric bills.
Dale said this is also a good time to keep up with home maintenance. Maybe it’s time to get the HVAC serviced. Even though it may cost a little up front, it could be worth it in the long run.
“Doing those little things as far as making sure air around your windows, your door, there’s no cracks around your door,” Dale suggested. “If you are replacing your HVAC there are different tax credits associated with all of those. So, researching what you might qualify for if you were to need a replacement.”
Those on disability, veterans, or senior citizens should look into property tax breaks, which may be available from the city or county of residence. She said those who qualify might see a major saving on monthly mortgage payments.
Dale said it is more challenging for renters.
“So, it’s really important that first of all if you’re getting ready to sign a lease as a renter you understand when your rent could go up,” she said. “And plan for that if it were to go up and how much it can go up.”
She said initiating this conversation with a landlord at the beginning of the renter process is key.
Potential renters could ask up front if they are willing to lock a rent price for two years and get that written into the lease.
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