UtilityScore offered by REcolorado.
UtilityScore can be accessed by Realtors, consumers.
UtilityScore offers consumer energy-saving tips
When buying home, it’s not just a matter of being able to afford the mortgage.
There are other costs, such as for utilities, such as the gas and electric bills.
Indeed, utility costs account for approximately 25 percent of housing expenses, according to the U.S. Census Bureau.
Now, REcolorado, the largest MLS in Colorado, has made it easier for consumers to calculate utility costs when buying a home.
UtilityScore, a new tool that offers a simple way to see the estimated monthly and annual utility costs of a specific single-family property, is a new feature for consumers and Realtors using the REcolorado.com home search site.
With this feature, homebuyers can take utilities into account when calculating the costs of owning a new home.
“REcolorado is pleased to be Colorado’s first MLS to offer today’s savvy homebuyers a tool that will help them assess and plan for the lifetime cost of a property before they purchase,” said Kirby Slunaker, president and CEO of REcolorado.
And it’s not just for consumers.
“UtilityScore is also a tool real estate agents can use to help their clients see beyond a property’s list price and consider projected utility costs before they buy,” Slunaker said.
House hunters can use UtilityScore by going to www.REcolorado.com and doing a home search.
For all single family detached properties, the home’s UtilityScore will be shown, along with detailed and accurate information about the home.
Each UtilityScore is based on a 1-100 scale, with 100 representing very low utility bills and 1 representing very high utility bills.
“A property’s list price is only a part of the costs associated with homeownership,” said Brian Gitt, founder and CEO of UtilityScore.
UtilityScore is a software company that provides personalized recommendations for home improvements that save 25 percent on energy and water bills.
“Utility bills can significantly impact your budget, but until now it’s been impossible to easily predict how much a specific home’s electric, natural gas, and water and sewer bills will be,” Gitt said.
“With UtilityScore, house hunters can receive instant customized cost predictions based on local utility rates, personal usage habits, and home characteristics,” Gitt said.
Scoring and utility cost estimates are calculated using local utility rates (not personal bill information), the home’s size and age, and the regional climate.
Users can refine the score by indicating the number of occupants, preferred seasonal thermostat settings, and if the home will be occupied during the work week. Homebuyers can also see how a selected home measures up to others in the same metropolitan area.
Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.