Definition
Utility deposits are security deposits required by utilities for new account setup—typically $100-$500. Deposits are usually returned after 12+ months of on-time payments. Plan for these costs.
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Utilities often require deposits ($100-$500) for new customers to ensure payment. Deposits are typically returned after 12+ months of on-time payments. Some utilities waive deposits for good credit histories. Planning for deposits affects moving budgets.
Pro Tip
Factor utility deposits into moving budgets. Total deposits can reach $500-$1,000 for new locations.
Example
Moving to a new property requires electricity deposit of $250, gas deposit of $150, and water deposit of $100