When we buy a house, we tend to think about the cost involved in the initial purchase. How many of us take the time to think about the running costs associated with living in a property?

With energy prices rising around the world, more and more people are becoming very concerned about their utility bills. After all, since the price of basic products such as gas and electricity have increased at a faster rate than inflation, energy bills take up an ever-increasing proportion of our income.

So should we think about the cost of heating and lighting a property before making our purchase? It seems like a sensible thing to do: with any purchase you make, it’s always wise to make sure you fully understand all the costs involved.

But you might be wondering if it really matters. After all, if you’re looking for properties within a certain budget, won’t they all be the same size and therefore cost the same to heat?

If this were true, things would be much easier, but unfortunately this is not the case. To begin with, you should be aware that there will be many different sizes of properties available within a similar price range.

More importantly, different properties will have been built using different materials, insulated in different ways, and may be heated by different appliances and power sources.

So how should you estimate ongoing costs? The key here is to ask lots of questions and gather as much information as you can.

Ask what kind of appliances are used to heat the property and the water supply. Is a single boiler used to heat both? Are all the rooms in the house heated in the same way?

Some properties may have multiple fuel solutions. This can be quite common in period properties, where electric radiators may be used in all rooms, but a traditional multi-fuel fire is used as a feature in the living room.

Find out exactly what the situation is and ask the current owner about their fuel bills. If you’re not sure you’re getting an honest answer, you can always get estimates from an energy provider.

Don’t overlook these additional costs that could make a big difference when you come to buy a fire.