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My friend and I are looking to move into an apartment in the Cherry Hill area. One complex we were considering (The Grand) includes all utilities, but we are concerned the fluctuations in utility costs in other apartments. In other words, if we can get a 2BR apartment w/all util. incl. for $1650, would it be worth it to get an apartment for $1480 with only some included utilities? I know utilities tend to spike during the warmer and colder months, but it would probably even out over the the course of a year.
The apartments we are looking on in particular are: Burrough's Mill, Cherry Hill Towers, The Highlands at Cherry Hill, and The Club at Main Street in Voorhees.
It depends greatly on what kind of heating system they have (gas or electric heat pump, etc). I have a one bedroom, and in the winter my heating bill is $100-$200 (closer to $100 this year) with gas heat. My electric is in the $40-$50 range in winter, and goes up to close to $200 in summer due to my A/C window units.
My friend and I are looking to move into an apartment in the Cherry Hill area. One complex we were considering (The Grand) includes all utilities, but we are concerned the fluctuations in utility costs in other apartments. In other words, if we can get a 2BR apartment w/all util. incl. for $1650, would it be worth it to get an apartment for $1480 with only some included utilities? I know utilities tend to spike during the warmer and colder months, but it would probably even out over the the course of a year.
The apartments we are looking on in particular are: Burrough's Mill, Cherry Hill Towers, The Highlands at Cherry Hill, and The Club at Main Street in Voorhees.
Any insight would be greatly appreciated!
What utilities are you talking about? Heat and electric (central air)? Everything included makes it convenient to pay and you know what your bill is going to be every month, but you have the ability to control how you use your utilities.
Is it worth paying $170 every month for heat or a/c when you don't use it? It's been awhile since I've rented, but I don't remember anyone paying for central air (any electric).
There are too many variables to give you the dollars and cents answer to the question. It all depends on what is and isn't included and then what kind of things you would be using; gas range or electric range, clothes dryer in the unit, is it gas or electric, do you have central AC or window units, etc.
What I can tell you is that going into a place with a friend you might be better off getting a place with everything included. This way you know exactly what the monthly bill is and can split it evenly. This helps to avoid a lot of fights. For instance, the electric bill is through the roof in the summer and you and your friend agree to keep the thermostat higher. Then you come home one day and it's been cranked down to 64 and the friends curled up in a blanket on the couch. Stupid example, but it's the kind of things that people fight over when they live together.
Thank you everyone for your advice. It appears that the most common bills are gas or electric, it appears that water is already included in most rents. I like the idea of not having to worry about what my bills will be month to month, but I would hate to think that I could save money on utilities if they are in fact cheaper. I suppose I would have to ask the gas/electric question when I visit the apartment complexes.
Thank you everyone for your advice. It appears that the most common bills are gas or electric, it appears that water is already included in most rents. I like the idea of not having to worry about what my bills will be month to month, but I would hate to think that I could save money on utilities if they are in fact cheaper. I suppose I would have to ask the gas/electric question when I visit the apartment complexes.
Thanks again for your advice!
Just to give you an idea, the last actual apartment I rented was around 1,100 sq.ft. and had 2BR and 1BA. We also had a washer and dryer in the unit. The complex included heat and hot water, water and sewer in the rent. We were responsible for electric, cable, phone, internet. We had an electric stove and electric dryer and we paid for the AC in our electric even though it was central units.
In general our electric bill ran around $50 in a regular month and then peaked to around $160 in the summer with the AC on. The cost of cable/phone/internet is all dependent on what you pick.
So, it all comes down to what is and isn't included. I think it would be reasonable on a place that did not cover electric and gas (they all pretty much include water and sewer) that you will probably spend on average around $75-$100 a month on those utilities for the average sized apartment. In the summer and winter, expect to add another $100 to that when the heat or AC is going.
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