Posted by Damon L. Chavez on Tuesday, September 13th, 2016 at 4:58pm.
SEPTEMBER 13, 2016 / REcolorado
REcolorado has added homebuyer information to its popular home search site, REcolorado.com, with UtilityScore, a new tool that offers a simple way to see the estimated monthly and annual utility cost of a specific single-family property. Utility costs are approximately 25 percent of monthly housing expenses according to the U.S. Census Bureau. Now 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. “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.”
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, a software company that provides personalized recommendations for home improvements that save 25% 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. With UtilityScore, house hunters can receive instant customized cost predictions based on local utility rates, personal usage habits, and home characteristics.”
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.