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  • FIRST POST
    • jordon1703
    • By jordon1703 8th Jan 18, 5:42 PM
    • 8Posts
    • 1Thanks
    jordon1703
    First time renter question
    • #1
    • 8th Jan 18, 5:42 PM
    First time renter question 8th Jan 18 at 5:42 PM
    Hello all,

    First time poster and new to the housing world so ease me in gently, thanks

    I just have a few questions about first time renting and, more specifically, what that entails; I live at home with my parents and, whilst all my friends have moved off to uni, I, myself would like to move out and be self sufficient.

    I take home approximately £2,334 per month; that varies from month to month as I am paid weekly and some months I get paid 5 weeks. It's simply an average when you add up my earnings for the year and divide by 12.

    I'm sorting myself out financially currently so not looking to move out quite yet but have been looking at 1 bed flats available in St Albans as a benchmark. I would ideally love to live in St Albans as I have always loved the small city. I like the community aspect, the history, the shopping/markets and the people! I used to work on the high street before I became a lorry driver and so have come to know a lot of locals as well as made friends there, much to my pleasure.

    So I've got a list of everything I need to factor in:
    Rent - Looking at between £900-£1100 for STA
    Council tax - £88 (25% discount as living by self)
    Electricity - £50
    Gas - £62
    Water - £33
    Mobile - £43
    TV license - £13
    Sky TV/Broadband package £38
    Contents insurance? - £11
    Food/general day2day - £150 (includes toiletries, cleaning equipment, things like that)
    Ground rent/service charge - £90
    Car finance - £336
    Car insurance £115
    Fuel - £70
    Birthdays/Xmas etc
    Flying - £130 (Private pilot so this keeps my rating valid)
    Going out - £50 (I don't tend to hit the clubs very much as my friends are away at uni and I can do long hours at work - unpredictable)
    Netflix? - £8 (I don't currently use Netflix but reckon that I would get something like that upon moving out)

    Have I over/under estimated anything in the list?
    Have I missed anything out?

    That leaves me with a small amount of spare cash which I'd save in case I needed it for emergencies. I would already have a fund built up before I move out for emergencies anyway, please note. I could also save on a few of the things in the list above but I'm trying to get a 'middle ground' that's realistic.
    CAT B,C,C+E Lorry driver, PPL license holder
Page 1
    • Slithery
    • By Slithery 8th Jan 18, 5:53 PM
    • 501 Posts
    • 770 Thanks
    Slithery
    • #2
    • 8th Jan 18, 5:53 PM
    • #2
    • 8th Jan 18, 5:53 PM
    You won't have to pay ground rent/service charge as these will be included in the rent.
    • ThePants999
    • By ThePants999 8th Jan 18, 5:57 PM
    • 977 Posts
    • 1,136 Thanks
    ThePants999
    • #3
    • 8th Jan 18, 5:57 PM
    • #3
    • 8th Jan 18, 5:57 PM
    Good list.

    For a 1-bed flat, £112/mth combined on gas and electricity should be a significant overestimate. We don't spend that on a 4-bed house.

    Things I budget for that don't look like they're in your list:
    - car servicing/repairs/tax/MOT; I assume fuel includes parking though
    - clothing
    - healthcare (e.g. dentistry)
    - eating out (perhaps included under food for you?)
    - holidays
    - home maintenance - while renting, a lot of what's in my "home maintenance" budget would actually be your landlord's responsibility, but I find myself regularly spending low-level amounts on things that don't fit any other category. To give you examples of the sorts of things I'm talking about, recent examples have included a new wifi router, replacement shower hose/head, a new garden hose (perhaps not relevant to a flat!), some new crockery, lightbulbs, yadda yadda. Nothing particularly big, but put it all together and it merits a line item in a budget...!

    You might want to post this in the budgeting forum, though - it's not really a question about renting
    • jordon1703
    • By jordon1703 8th Jan 18, 5:57 PM
    • 8 Posts
    • 1 Thanks
    jordon1703
    • #4
    • 8th Jan 18, 5:57 PM
    • #4
    • 8th Jan 18, 5:57 PM
    Ah I wasn't aware of that. Is that the same everywhere then? Or worth checking everytime? Thankyou
    CAT B,C,C+E Lorry driver, PPL license holder
    • ThePants999
    • By ThePants999 8th Jan 18, 6:04 PM
    • 977 Posts
    • 1,136 Thanks
    ThePants999
    • #5
    • 8th Jan 18, 6:04 PM
    • #5
    • 8th Jan 18, 6:04 PM
    Ah I wasn't aware of that. Is that the same everywhere then? Or worth checking everytime? Thankyou
    Originally posted by jordon1703
    Same everywhere. Ground rent and service charges are the leaseholder's (landlord's) responsibility, not the tenant, though the tenant essentially winds up paying them through the rent.
    • jordon1703
    • By jordon1703 8th Jan 18, 6:06 PM
    • 8 Posts
    • 1 Thanks
    jordon1703
    • #6
    • 8th Jan 18, 6:06 PM
    • #6
    • 8th Jan 18, 6:06 PM
    @ThePants999 Thankyou for the reply, based on your response, I'll tone down the gas/electrics.
    I haven't mentioned MOT or servicing because I have it free for the next 3 years - I would eventually need to take it into account however.
    Car tax is quite minor, only being £20-30 per year.
    Denistry/opticians - noted.
    Home maintenance - noted.
    Eating out is factored in but I don't tend to eat out and I wouldn't see that changing all that much.
    CAT B,C,C+E Lorry driver, PPL license holder
    • aneary
    • By aneary 8th Jan 18, 6:08 PM
    • 866 Posts
    • 792 Thanks
    aneary
    • #7
    • 8th Jan 18, 6:08 PM
    • #7
    • 8th Jan 18, 6:08 PM
    Do you intend to rent furnished or unfurnished.

    If furnished you will need £200/£300 for linens, kitchen items (you will need kettle/microwave/toaster too)

    If unfurnished add 1k as you will need a sofa/bed/draws as a min.
    • jordon1703
    • By jordon1703 8th Jan 18, 6:12 PM
    • 8 Posts
    • 1 Thanks
    jordon1703
    • #8
    • 8th Jan 18, 6:12 PM
    • #8
    • 8th Jan 18, 6:12 PM
    Good list.

    For a 1-bed flat, £112/mth combined on gas and electricity should be a significant overestimate. We don't spend that on a 4-bed house.

    Things I budget for that don't look like they're in your list:
    - car servicing/repairs/tax/MOT; I assume fuel includes parking though
    - clothing
    - healthcare (e.g. dentistry)
    - eating out (perhaps included under food for you?)
    - holidays
    - home maintenance - while renting, a lot of what's in my "home maintenance" budget would actually be your landlord's responsibility, but I find myself regularly spending low-level amounts on things that don't fit any other category. To give you examples of the sorts of things I'm talking about, recent examples have included a new wifi router, replacement shower hose/head, a new garden hose (perhaps not relevant to a flat!), some new crockery, lightbulbs, yadda yadda. Nothing particularly big, but put it all together and it merits a line item in a budget...!

    You might want to post this in the budgeting forum, though - it's not really a question about renting
    Originally posted by ThePants999
    Have thought about this, would likely be unfurnished and I'd budget £2,000-£3,000 or so to get everything I need. Although I haven't looked into this all that much yet and so not clued up on how much I'll need.
    CAT B,C,C+E Lorry driver, PPL license holder
    • Slithery
    • By Slithery 8th Jan 18, 6:15 PM
    • 501 Posts
    • 770 Thanks
    Slithery
    • #9
    • 8th Jan 18, 6:15 PM
    • #9
    • 8th Jan 18, 6:15 PM
    There's no need to spend anywhere near that much on furniture. Look at gumtree, freecycle, etc and you could get away spending a 1/10th of that.
    • lotteryman
    • By lotteryman 8th Jan 18, 6:57 PM
    • 46 Posts
    • 36 Thanks
    lotteryman
    Don't forget to budget for having to put down an often substantial deposit on the flat.
    Also if you go through an agent they will sting your for fees. If you go private see the notes below about legals.
    Make sure when you get into looking for a place that you make sure the landlord keeps everything legal and above board.
    Go to https://www.gov.uk/government/publications/how-to-rent as this gives legal requirements etc. If you also dig around the GOV.uk site you will find sample tenancy agreements with a checklist that the landlord has to do.
    • aneary
    • By aneary 8th Jan 18, 7:40 PM
    • 866 Posts
    • 792 Thanks
    aneary
    Whilst you are at home you have the opportunity to save, you can buy cheap but if you have the opportunity to buy nicer things you are better doing that.
    I spent £1500 in Ikea fitting out a two bed flat I also spent £600 on a mattress always always spend as much as you can afford on a good mattress. I was lucky that my parents were upgrading their sofa so I have a nice leather corner sofa for free.
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