Budgeting for 1st buy- any advice?

smeets

thanks, i feel better now :beer:

does anyone know of any good budgeting tools that may be usful for calculating these things i.e. how much it could all add up to per month etc?

thank ya!

Chris2685

I like the budget sheet on Rightmove. It doesn't cover everything, but is quite a good indicator. Of course, you have to fill in the values yourself
Budget calculator: http://www.rightmove.co.uk/pdf/p/propertyguides/Budget_Calculator.xls
Their full guide: http://www.rightmove.co.uk/template/publicsite%2Cpropertyguides%2CBuying%2CBuyingGuide.vm

smeets

thanks for the budgeting links, just looked at them briefly for a sec and they look really good, just what i needed, thank you.

will plug in some figures and see what i get

smeets

just a quick update, the budgeting tool has just confirmed what i thought... i will not be able to afford to buy and maintain a 1-bed flat on my current salary. i realise its just a guide and that i could probably cut back on certain things but i would just about scrape it.

either house prices need to come down or my salry needs to be bumped up

Chris2685

It is disappointing isn't it, but at least house prices are coming down and you're not in any dire position yet
You can always rent if you needed to get away from the folks anyway, but I think its worth saving a few hundred a month if you can put up with them