{"id":4859,"date":"2017-06-06T00:00:00","date_gmt":"2017-06-06T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/utilities-add-25-to-homeownership-costs\/"},"modified":"2017-06-06T00:00:00","modified_gmt":"2017-06-06T00:00:00","slug":"utilities-add-25-to-homeownership-costs","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/utilities-add-25-to-homeownership-costs\/","title":{"rendered":"Utilities Add 25% to Homeownership Costs"},"content":{"rendered":"

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There\u2019s a reason utility bills feel like they\u2019re taking a bigger bite out of households\u2019 budgets. On average, utility costs\u2014electricity natural gas, water, and sewer\u2014add 25 percent to monthly housing<\/a> costs for homeowners and 21 percent to housing costs for renters, according to a newly released white paper\u00a0by ATTOM Data Solutions, a real estate<\/a> data firm, and UtilityScore, a software provider for solar and other home improvement companies.<\/p>\n

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Read more<\/strong>: 5 Ways to Trim Utility Costs This Summer<\/span><\/p>\n<\/blockquote>\n

Monthly utility costs require 7 percent of a person\u2019s average wages across 931 counties analyzed. When utility costs are included, buying a median-priced home requires more than 43 percent of a person\u2019s income, the study showed.<\/p>\n

\u201cThe risk to homeowners and lenders<\/a> is great,\u201d says Jacob Corvida, manager at the Rocky Mountain Institute, a nonprofit organization focused on efficient and restorative use of resources. \u201cThe antidote is to understand utility costs and include them in underwriting assessments.\u201d<\/p>\n

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