| It’s easy to forget the cost of utilities when you think about the cost of owning your home. But when you factor in electricity, gas, heat, phones, and other costs, the total can be surprisingly high. A little care and research can be helpful in keeping these costs down:
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Keep air conditioning and heat off or turned down when you’re not home, or set them on a timer |
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Shop around for the best phone plan |
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If you have a cell phone with lots of free minutes, consider using it as your main phone |
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If you have a dishwasher, use it — it takes a third less hot water than washing dishes by hand does — but not for drying, since it uses a lot of electricity |
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For better or worse…
If you’re getting married, another way to cut costs is to set up a bridal registry with the Federal Housing Administration (FHA). Your friends and family can contribute toward a down payment on a home you buy using an FHA mortgage. So if you feel like a step toward a home would be more important than a toaster or another pair of candlesticks, you might want to think about including this option. |
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A gift isn’t always free
Even if your family wants to help you buy a home, you should be aware of gift tax rules.
Click here to learn more!
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