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Old 12-10-2012, 06:58 PM   #1
That guy in Maine
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Default Help! Trying to calculate cost of renting

Hello everybody!

I am looking at renting an apartment with two other roommates starting in Jan. of 2013, right now I'm in the cost planning part of it...but since I've never done this before I have no idea what things cost.

I can obviously look up renters insurance, cable, internet, etc...

But what I don't know is how much electric and heat cost.

The house is 2,600 square feet and is fairly new, it has gas heat and hot water.

Does anybody have a home of about the same size that could throw some rough figures out there for me to go on? They don't have to be exact as I'll probably multiply them by a bit to be on the safe side (like 1.3 or something), but just looking for some rough numbers!

Thanks!
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Old 12-10-2012, 07:09 PM   #2
05_wRex
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Depending on what your power company charges per kWh, I'd say power would be between 2-300 a month. Could be a bit more since you're up north and they seem to have much higher rates than we do.

My highest bill has been 160. No gas all electric. Two units heating and cooling about 2700 sq ft. Alternatively, our relatives houses range from 250-450 a month in similar sized homes. Similar kWh rates. I built our house myself so I sealed this puppy up and it shows every month on the power bill. Lol. Insulation isn't excessive, but I did spray foam every crack I could find. Air exchange rates will hurt you just as bad as poor insulation values.

Maybe a little more than you wanted to know. Lol.

Gas is going to be a tank full every year at least. Here that's about $300.

Water is only 15 a month for us (1500 gallons). Not sure on rates for you guys.
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Old 12-10-2012, 08:02 PM   #3
Loyale93
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Need more input!!!
Is it 1 floor at 2600 sqft? 2 floors at 1300 sqft?
Where are you looking to rent? Maine? Tennessee?

Best thing to do for utilities is to call up the utilities and ask them how much utility costs were the previous year during those months.
You can also ask the landlord or current tenants. I am a landlord in Medford, MA, and whenever I have to rent out the place downstairs, I always have to answer that question. Asking the people that are actually involved will probably be more helpful than asking a forum of people spanning the Northeast. Still confused how Mr. Chattanooga ended up answering...

Also, your landlord isn't allowed to charge you for water. Water/Sewage is included in rent.
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Old 12-10-2012, 08:06 PM   #4
05_wRex
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Quote:
Originally Posted by Loyale93 View Post
Need more input!!!
Is it 1 floor at 2600 sqft? 2 floors at 1300 sqft?
Where are you looking to rent? Maine? Tennessee?

Best thing to do for utilities is to call up the utilities and ask them how much utility costs were the previous year during those months.
You can also ask the landlord or current tenants. I am a landlord in Medford, MA, and whenever I have to rent out the place downstairs, I always have to answer that question. Asking the people that are actually involved will probably be more helpful than asking a forum of people spanning the Northeast. Still confused how Mr. Chattanooga ended up answering...

Also, your landlord isn't allowed to charge you for water. Water/Sewage is included in rent.
Well alright then. Listen to this guy since I own a home and don't know **** about renting. Asking current tennants would be better than asking for an "estimate".

And really, it still won't be accurate unless you take into account how hot you keep the house in the winter and how cool in the summer. How often will you be using gas appliances? Gas dryer as well? Wash a lot of clothes? If you want to get that technical, by all means...

Last edited by 05_wRex; 12-10-2012 at 08:12 PM.
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Old 12-10-2012, 08:17 PM   #5
That guy in Maine
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Quote:
Originally Posted by Loyale93 View Post
Need more input!!!
Is it 1 floor at 2600 sqft? 2 floors at 1300 sqft?
Where are you looking to rent? Maine? Tennessee?

Best thing to do for utilities is to call up the utilities and ask them how much utility costs were the previous year during those months.
You can also ask the landlord or current tenants. I am a landlord in Medford, MA, and whenever I have to rent out the place downstairs, I always have to answer that question. Asking the people that are actually involved will probably be more helpful than asking a forum of people spanning the Northeast. Still confused how Mr. Chattanooga ended up answering...

Also, your landlord isn't allowed to charge you for water. Water/Sewage is included in rent.
It's a two story home with garage on the first floor and a full unfinished basement. We're renting the entire building.

I'm aware we can't be charged for water or sewage, so our only big concerns are electric and heat.

Location is Springfield, MA.

Quote:
Originally Posted by 05_wRex View Post
Well alright then. Listen to this guy.
Haha, thank you for your help!
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Old 12-11-2012, 06:13 PM   #6
sport6
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Factor in renter's insurance. It is really cheap like 10-15 bucks a month. The landlord's building insurance only covers the stuff he owns so if anything happens you would be out of luck.

and since its Springfield it should cover theft...
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Old 12-11-2012, 07:51 PM   #7
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Springfield is cheap everything.
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Old 12-11-2012, 10:24 PM   #8
Jack
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Some of this is from memory. 2800 sq foot house. Family of 4. We paid $130 for electric last month. Heat with oil, which is currently $4 a gallon more or less (just spent $718 on it). I'm going to say that a year is probably $4k.

Don't listen to anyone out of state about electric. I lived in Virginia for 2 years. Exactly the same amount of electricity was half in Virginia as it is here. We have taxes and fees and surcharges and transmission and graft and corruption taxes that make the bill double. None of those down there. With the TVA, I hear if you live in Tennessee, they pay you to use electricity.

Oh......I can tell you about a good strip club in downtown Springfield that I used to go to. Oh, wait....no, I can't.
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Old 12-11-2012, 11:03 PM   #9
That guy in Maine
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One of the strip clubs apparently blew recently too haha, thanks for the info Jack, I have $150/mo in the spread sheet for electric except for 2 months in the summer I put it up to $175 if we use the A/C (very unlikely).

I also put in $250-$300/mo in the winter for gas, and $100-$150 in the summer, the person who showed us the house was less than helpful when I asked about the prior utilities cost "Oh, the house is heated with propane" is the response I got...

Quote:
Originally Posted by sport6 View Post
Factor in renter's insurance. It is really cheap like 10-15 bucks a month. The landlord's building insurance only covers the stuff he owns so if anything happens you would be out of luck.

and since its Springfield it should cover theft...
Luckily the home is in East Longmeadow, which is a nicer neighborhood. But yes, every one of us plans to get renters insurance, it came out to about $20 month I think when I got an estimate, probably cheaper if I add it to my car and motorcycle policy through progressive (didn't want to take the time to call and such).
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Old 12-12-2012, 12:30 AM   #10
bighappyblocker
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I live in westfield MA, about 15 minutes from springfield our "townhouse" is 1300 sq ft as for costs to help a little.

Winter: We are fat and have three computers on almost constantly so never turn on the heat and just let those heat up our rooms we don't really car about the basement (always cooler) and the middle floor (living room/kitchen and a half bath)....with that being said our gas/electric bill usually runs us about 120 a month (before split)

Summer: Same information as above except we have our ACs on full blast and those bills get up to and over 250 per month (I think we hit 290 one month this summer)

Hope this helps
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