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Budgeting for a house.

(16 Posts)
QueenLizIII Mon 24-Oct-16 14:06:43

How much does it really cost to run a house / flat. I mean small, one bedroom, two maximum. Just one person living there who is out working.

I am looking to budget for a mortgage but have no idea of bills as where I share a flat at the moment bills are included.

YelloDraw Mon 24-Oct-16 15:18:47

1 bed flat, 2 people.
Out at work.
Modern well insulated flat, gas for central heating and hob, electricity for oven and lights.
Do not cook every night.

£35 water. This is quite high - my partner takes VERY long showers. 1 person should be more like £25 if on a meter.
£35 for gas and electric but think were paying more like £45 over winter
£30 internet

+ council tax
+ home insurance
+ car permit

QueenLizIII Mon 24-Oct-16 15:52:48

So I guess you dont cut bills in half for one person.

Cut maybe 30% off? It would be just me there.

UrethaFranklin Mon 24-Oct-16 16:15:25

I live on my own and pay £25 for water (on a meter) and £72 for gas/electric combined.
Council tax don't forget you will get 25% discount - mine is £72
Contents/building insurance - c£20
TV/phone/broadband package - £60 but you can get cheaper
Emergency fund (in case your boiler breaks or something)
Then you will have transport costs/food/mobile phone etc

QueenLizIII Mon 24-Oct-16 16:44:15

I didnt know about the council tax reduction for a single person. Thanks.

Im not bothered about a tv package as i dont watch much. Could probably get cheap broadband from my mobile provider.

specialsubject Mon 24-Oct-16 19:52:43

Doubt it... Broadband costs are the same with or without line rental, vodafone ads dont tell you that.

YelloDraw Tue 25-Oct-16 13:50:59

I forgot TV license on there too. That is £145 a year I think.

Water is less for 1 person but your gas and electricity will be hardly any different. Still need to heat the same space, have the oven on as much etc. Maybe a bit less tumble drying and a bit less gas for hot showers.

The absolute cheapest you can get decent internet for is about £30.

Tryingtosaveup Tue 25-Oct-16 21:17:34

I live alone. I pay per month
£23 water on meter
£22 electricity ( no gas here)
I have a fire / stove and burn wood I cut/ collect/ get given
I have oil CH but hardly use it.
25% discount on council tax
No television
BT phone/ broadband ( all that is available here) £50 ish
I am very careful and batch cook and freeze to save electricity

QueenLizIII Tue 25-Oct-16 23:05:11

So im looking at about £200 a month for bills incl council tax

YelloDraw Wed 26-Oct-16 12:46:28

So im looking at about £200 a month for bills incl council tax

I would say £200 to £220 would be an appropriate estimation if you are reasonably careful with water, gas and electric.

strangeclouds Thu 27-Oct-16 08:43:47

If you buy a flat you should investigate annual/service charges.

Also, I'd suggest adding a small amount each month to your budget and saving it for maintenance or emergencies.

YelloDraw Thu 27-Oct-16 11:10:25

If you buy a flat you should investigate annual/service charges.

Yes very good point. Defo consider that when you are looking to buy. Flats I looked at this year ranged from £1200/year (ex-La block) to £4,000/year (new private, block concierge and included hot water)

JoJoSM2 Thu 27-Oct-16 11:51:16

When I lived on my own renting a room out to a friend, my water was only £20-25/month
electricity was £60 (no gas in the property) but it was a new build with amazing insulation so you barely needed to put the heating on. If you're in a Victorian flat with single glazing then I'd budget double that
for internet, I got a dongle to plug into my laptop for £10-15/month but you'd need to fork out for proper broadband if you want to watch films etc.
council tax - you can check with your council
TV licence £145/year
Service charges are the biggest expense usually - I'd look at the history for the last 3 years. Some buildings are well managed and there will be a fund for bigger repairs. They can vvary widely, though. I've seen people paying £60 for a very basic block with no garden and £250+/month in fancy blocks with gyms/concierge/great garden + possibly heating included.
In smaller properties, e.g. converted houses you might not have a regular service charge but be asked to fork out large amounts on repairs without that much notice + get charged insurance every year.
Altogether, in a very average block with no Sky or other overpriced stuff, I'd hope to spend about £250/month.

QueenLizIII Thu 27-Oct-16 13:50:17

I was worried about service charge. My friend lives in a fancy block with a lift and pays £250 a month.

Another friends is only £100 a month as it has nothing, no lift etc

JoJoSM2 Thu 27-Oct-16 16:51:59

Yes, it's important to ask about the service charge when you view a property. I wouldn't go for the flat with the cheapest service charge either - it's important that repairs are regularly carried out and the property well-maintained + it might be quite a nice lifestyle perk to have a gym or landscape gardens smile

QueenLizIII Fri 28-Oct-16 01:50:26

My friend with the cheap service charge it all looks ok.

It has made me realise though I cant buy a flat. I can afford a mortgage and bills and service charge.


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