Understanding Bills

Prior to buying the house, I only had one bill to pay; my cell phone bill.

Everywhere I lived before, the bills were included in the rent.

Understandably, I had (and still have) no clue what all the numbers on my bills meant.

I didn’t even know the difference between Horizon Utilities and Union Gas. I thought you got to pick which utility company you wanted. To be honest, the term ‘utilities’ still confuses me.

Here is a breakdown of my typical bills (and what they mean) *I think*. If you can offer better explanations, please, tell me! I included a rough estimate of how much I pay per month (for people who are thinking about buying a house, or are curious about home bills.)

Type Monthly Fee Description
Property Tax Around $200 Tax I pay to the City of Hamilton
Home Mortgage Around $900 How much I owe the bank per month. Yes, I put a huge downpayment down. Refer to my previous posts about saving money and budgeting.Β 
Reliance Water Heater Around $30 Most homes rent water heaters and have to pay a rental fee. Pay this quarterly (but I broke it down by month). Looking into buying out the heater but it is not worth it if I live in the house for less than 2 years.
Horizon Utilities Around $250*bimonthly Pay bi-monthly. Pretty sure Horizon charges me based on my electricity use.
Union Gas Around $15 Still trying to figure this out but I think it’s the transportation cost to bring gas in, to heat the house?
Home insurance Around $40 Happy with my Square One Insurance service so far. Getting insurance for my home was so complicated and stressful. I had the quickest closing ever so collecting quotes and answering questions about the house was such a challenge. Luckily, Square One Insurance was all online and there were lots of pictures to help guide the process.

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