The Cost Of Running A Home Is Rising

As every homeowner knows the cost of running a household can be almost as much as paying the mortgage. Whether it is a bijou studio apartment or a rambling 60 bedroom mansion the same bills come through the door every month.

The cost of maintaining a home over the course of a year has risen, new figures from recent research reveal. According to a leading high street bank, overall, mortgages account for more than half of the costs of running a home, followed by money spent on alterations and improvements at just over 10 per cent.

Utility bills are increasing at the most dramatic rate and council tax rates are close behind however, and are now rising faster than inflation. With the costs of maintaining a household rising, it is more important than ever to maintain its value with a decent home insurance policy.

"The costs involved in running a home are rising," said commented a spokesman for the bank.

"This makes it all the more important for homeowners to shop around in order to make sure they are getting the very best deals available, not just on home insurance but the collective running costs, everything from your mortgage to gas supply."

Top tips to cut your household bills:

•    Electricity – turn off lights when you leave a room and unplug or switch off appliances when they are not in use.
•    Groceries – make the most of in store offers and buy in bulk. Use coupons and vouchers where possible. Also sign up to loyalty cards as many offer discounts and money off things you buy frequently.
•    Heating – turn the thermostat down by 1deg or more if you can handle it and wear more clothes in cold weather. Make sure any cracks around doors and windows are sealed.
•    Telephone – cut back on either your landline or mobile phone. Make sure you have the right package for your usage.

If you would like to know more about the cost of running a home why not ask AnswerBank Home and Garden. Or, if you would like to see our web search results click here.