Prior to buying the house, I only had one bill to pay; my cell phone bill.
Everywhere I lived before, the bills were included in the rent.
Understandably, I had (and still have) no clue what all the numbers on my bills meant.
I didn’t even know the difference between Horizon Utilities and Union Gas. I thought you got to pick which utility company you wanted. To be honest, the term ‘utilities’ still confuses me.
Here is a breakdown of my typical bills (and what they mean) *I think*. If you can offer better explanations, please, tell me! I included a rough estimate of how much I pay per month (for people who are thinking about buying a house, or are curious about home bills.)
|Property Tax||Around $200||Tax I pay to the City of Hamilton|
|Home Mortgage||Around $900||How much I owe the bank per month. Yes, I put a huge downpayment down. Refer to my previous posts about saving money and budgeting.|
|Reliance Water Heater||Around $30||Most homes rent water heaters and have to pay a rental fee. Pay this quarterly (but I broke it down by month). Looking into buying out the heater but it is not worth it if I live in the house for less than 2 years.|
|Horizon Utilities||Around $250*bimonthly||Pay bi-monthly. Pretty sure Horizon charges me based on my electricity use.|
|Union Gas||Around $15||Still trying to figure this out but I think it’s the transportation cost to bring gas in, to heat the house?|
|Home insurance||Around $40||Happy with my Square One Insurance service so far. Getting insurance for my home was so complicated and stressful. I had the quickest closing ever so collecting quotes and answering questions about the house was such a challenge. Luckily, Square One Insurance was all online and there were lots of pictures to help guide the process.|