Saving for a New Home – A Renters Guide to Saving Money on Energy Bills

Saving for a New Home - A Renters Guide to Saving Money on Energy Bills

For those who are looking to buy but are faced with renting a home, condo or apartment, they understand better than anyone just how high rental rates can be. In many American cities, the cost of rent is rising faster than wages, which means it eats up even more of your budget. As renters realize that the price of rent isn’t something they can control, they are starting to realize that there are other ways they can be saving money towards buying a new home. One area is the cost of their energy bills, which is something they can make an impact on.

Be Picky When Choosing a Rental

Rather than just looking at the cost of rent and how much you like the unit when touring different options, you want to look at things from an energy standpoint. Ask the landlord about the age of the building and what the previous power bills have been to give you a general idea. Feel for drafts that could signal cracks or gaps in caulking. Older buildings are often less energy efficient since there were different codes and materials being used back then. When you take a look at the technology, practices, and materials being used today in order to increase the energy efficiency of buildings – then a new build may make more sense. New York Engineers is known for its construction management, design, and consulting services in some of the biggest markets in the country. Take, for example, their Chicago engineers who have worked on some of the most notable projects in the city. They also happen to focus on green building design where energy consumption is reduced, which reflects on your energy bills. Choosing a building with this kind of energy-efficient design just makes good economical-sense from a renter’s perspective.

How Old are the Appliances?

One of the biggest energy guzzlers in your apartment tends to be the appliances. You want to take a look at the age of these and if they are energy-star rated. If the unit doesn’t offer energy-star rated appliances, then you can either ask the landlord about installing them, or you may want to consider a different unit.

Ensure You Can Adjust the Thermostat

You also want to be sure that your unit has an adjustable thermostat where you are in charge of the temperature. Ideally, you want to look for a programmable thermostat as this can allow you to set separate temperatures for night time while you’re sleeping, during the day when you are at work and the times that you spend at home. These simple adjustments can end up saving quite a substantial amount on your energy bill.

Switch All Lightbulbs to LED

The final tip is to switch over all your light bulbs to the more energy efficient LED models. They are able to save up to $60 a year on your energy bill, plus they last up to 15 times longer than a typical incandescent bulb, which means you’ll save money on replacement bulbs.

Each of these tips will work together to help you save money on your energy bill in your rental unit which can help towards your finances when you are ready to buy.


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