Will my bills be higher in my new home?

Congratulations! You have moved home. The stress and excitement have (hopefully) settled down, and you can get into the swing of being in your new home. Whether you have downsized or not, looking at your bills and whether there is going to be a fluctuation in price is important.

In this article we are going to highlight factors to consider that may affect the bills in your new home, and what to do if your bills are significantly higher in your new home.

Factors that affect bill price:
  • Location: In Australia, certain states may be more expensive due to it being more rural. Also, if you have moved to a more expensive area such as a capital city, companies may hike up the price due to the commercial popularity of the area.
  • Size of property: If you are moving to a property that has an increase in rooms or is split over more floors, then naturally your bills will be higher as there is more room to heat and supply energy to.
  • Supplier: Your old house supplier may be more expensive in the new area you have moved to. The best way to check you are getting a commercially viable deal is to use a price comparison website and look at plans that are relative to the area you now live in.
  • Variety of energy: Some states in Australia offer multiple providers, which can help with the price point. Others may have only one provider for electricity and gas, in which case you have to unfortunately deal with the hike in price. We recommend checking out energy suppliers prior to moving so you are not shocked by prices.
  • Who is in the property: The more people in the property, the more expensive the bills. Be mindful of this, particularly if you are looking to have a family how it will affect bills.
  • Insulation: This also is relative to how old your new property is. Newer properties usually (and should) have better insulation to make them economically friendly. Poor insulation means that your bills will be higher.

What to do if your bills are high:
  • Switch providers: Use a price comparison website to see what is out there and what plan will work best in your new home.
  • Insulate: This can be costly, but it will save you a lot of money in the long run. Insulating the home means that your house will use energy better and you will spend less.
  • Be mindful: If you can see that your bills are significantly higher, look at your usage. Are you forgetting to turn lights off? Are you being excessive with how often you use air conditioning or heating? Make sure that you are strict with yourself.
  • Find a smart plan: There are smart plans that can be flexible depending on your usage. Similarly so, if you are in a large family that needs to use a lot of energy, finding fixed plans may be better for you.

All in all, there are a number of factors to consider when moving into a new home. If in doubt, ensure that you check beforehand what your average costs may look like so you do not get any surprises!

Author: Claire Stapley
Claire Stapley is ElectricityComparison.com.au's Energy Editor, based in Melbourne Australia. Claire is a founding member of ElectricityComparison.com.au News and Energy Team.