Home Living Costs

Jonnybmac

Jonnybmac

Jonnybmac

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17 Dec 2009
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I'm wanting to move out, but I'm trying to sum up the affordability of it.

I'm trying to figure out If I can afford to move out. I was wanting to get a morgage but thats not feasable at this present time so I'm looking into renting.

I'm unsure as to what my outgoings would be. Do I need home insurance on a rented accomidation?

So far I've got these, but I'm unsure If I'm missing something and If gas,electric and food is a little underpriced or not? This is based per month with me, my partner and baby.

Rent = £400-£500
Food = £300-£400
Gas + Electric = £150
Water = £15
Council Tax = £110
TV Licence = £12
Sky = £20
 
£300-400 for food a month! Jesus Christ that's a lot!

I thought I'd spend around £150 a month when I moved out last year, but, i rarely spend over £80-90, learn to find the BOGOF's etc, saves so much in the long run.
 
Forgot internet. I thought £300 for food would be average when considering how much crap I eat such as bait. When I stop at my sisters to look after her house, I generally spend around £70-£100 on a fortnight of food, and thats just freezer stuff from farmfoods and essentials.

Gas & Electric was quoted for the pair and not induvidually. I've never really experienced life on my own, and the costs of runing a home so everything is rough estimate apart from what I could look into, which was council tax, tv licence and an estimated water rate.

Would be looking at hopefully a 2 bedroomed home. Am I over budgeting here?
 
obviously it will depend on where abouts youre looking but we paid £550 for a 1 bed flat and £650 for a 2 bed flat
check out rightmove or similar to find out what's more realistic for you (£400-500 for 2 beds seems very cheap to me!)
 
Gas and electric costs will vary hugely depending on your life style and factors such as how well the property is insulated and how big it is.

In a modern flat you'll spend next to nothing heating it. In an old terrace house you'll spend a fortune!
 
goldilocks said:
obviously it will depend on where abouts youre looking but we paid £550 for a 1 bed flat and £650 for a 2 bed flat
check out rightmove or similar to find out what's more realistic for you (£400-500 for 2 beds seems very cheap to me!)
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Ive had a look about and £400 is average money and £500 will find me a decent property near to where I live. Im a village/town person and not a city man :P
 
Don't forget your fuel costs + additional extras as its not just what the home costs you its your lifestyle also.
 
I recently calculated my monthly budget as this

food £200
gas, water & electric £100
tv licence £13
home insurance £25
phone line £12.50
council tax £80
mobile £30
internet £15
 
Not sure on the actuals, but these are rough estimates I was using before me and my partner moved a few months ago for a 2 bed flat...

Gas / Elec 70
Water 20
C Tax 174
Rent 1175
Phone 11
Broadband 30
Mobile 20
Home ins 10
tv license 10
Food Shopping 200
Commuting 253
Lunch 75

Excludes fuel, car maintenance, socialising, etc etc
 
schnipps said:
gas and leccy are to high, budget 25 - 35, depends on the house/flat but 150 a month for both is v high.
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Agreed.

tombrr said:
£300-400 for food a month! Jesus Christ that's a lot!

I thought I'd spend around £150 a month when I moved out last year, but, i rarely spend over £80-90, learn to find the BOGOF's etc, saves so much in the long run.
Click to expand...

I spend over £300 per month on myself only. If you eat well and buy good quality foods in decent quantity (as I'm an ogre :p) it does clock up.

Sharing a flat/house with someone does make it a LOT cheaper. :)
 
I've already calculated additional costs such as fuel and mobile phone bills ect.

Thanks for the break down summarys guys, really helps me better with things.. 1175 a month though, are you renting a mansion? Ha
 
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