Can I afford it??

Rhianny2244_2

Hi there! I was looking for a bit of help if you lot dont mind! It's my first post so be nice to me! :beer:

Well I am a student nurse who gets just over £500 a month in bursary and can easily earn more through bank shifts. My partner is also a student and earns over £300 a month in his part time job and again can earn more through o/t,
We are looking to rent a 1bed flat for £350pcm through a letting agent.
realistically do you think we will be able to afford it for a long term rent?
We are not big part animals which is hard to believe as we are students but we would rather have our own place that go out drinking so that isnt a major issue of ours!
Just wondered what the going rate for water, electricity and gas was? We wont pay council tax due to our both being students and being exempt.

Thanks so much! Hope i get some replies!!!;)

Rhian

jamtart6

i would have thought so yes if you budget properly.

cant help out with rates yet Im afraid as we pay nominal amounts as not in the property yet.

Good luck

PasturesNew

It'd be a bit tight. what are your current outgoings? (e.g. phones, travel, food)... things you'll still expect/have to do when you move.

I live alone and lead a frugal life in a bedsit and my basic/essential monthly bills for one are £150 or so... for two you could expect to spend maybe £200-250 (contents insurance might be more for two and for your location).

So £350 + £200-250 = £550-£600.

Doesn't leave you enough really.

Letting agent fees could be another £200 and £500 deposit too.

You might be better off looking at one of:
- a studio flatlet.
- a shared house with bills inclusive.
- not going through an agent.

Rhianny2244_2

hi our mobiles cost £25 a month each just now but they are both up for renewal next month and we are hoping to get the most cheapest basic deal of whatever we can get!
travel is £18 a month each and neither of us drive.
We would be looking to spend about £100-£150 a month on food - maybe less due to a lidl being next door lol.
thanks so much for the quick replies!
Rhian

anotherpaul_2

I can't help you with exact numbers, but these are the numbers for our 2 bed house:

Water (inc. waste) £35 per month

TV license about £24 for the first six months, then £12 after that (if you pay by DD) - or don't have a TV and save.

Elec + Gas. We spend about £53 per month. I think we're pretty frugal, we don't have a lot of high energy using products (computers, electric heaters, etc) and we don't tend to keep the house very warm. How warm you like the house makes a lot of difference, I think, though flats are generally cheaper to heat than houses.

A side issue on the Gas front. Being a flat, does it even have gas? Everything may be electric.

Our contents insurance is about £175 per year, but I would expect yours to be less. You could always call Endsleigh for a quote - but it's worth shopping around too.

We also put aside £200 a month for food and household supplies from the supermarket. You could certainly spend less than this is you needed to.

Some other bits you haven't asked about...

BT Phone (if you need it, for example if you need ADSL internet) should be about £12 per month plus calls. But be aware that BT sometimes change £125 for connection, though they will spread the cost over a year (it seems pretty random whether they charge this or not).

Internet (ADSL) - between £8 and £20 depending on how much download capacity you need.

There may be cable options in your area.


That's everything from my list of regular outgoings on the house (except the council tax).

schueys_girl

Hi!

Be careful if it is electric storage heating because this can often work out more costly as it is not like gas where you can flip the boiler on when you want it to warm up for a bit and hot water. With electric storage heating you need to leave it on for longer etc.

Me and my fiance live in a 2 bed house (bear in mind the 2nd bedroom is not really a bedroom lol!)

We spend about £5 a week on electricity (on a meter) and spend £10 or a bit more a week on gas, which is also a meter. If you are on meters then you pay a lot more...so bear this in mind too.

Some thing else which others havent mentioned - will you have any left to save for the future - for a house deposit etc? Or anything for a backup if something breaks, or will you be able to enjoy yourself on the odd occassion and go out?

We live very frugally, my fiance is an apprentice on £80 a week. I am a college lecturer, still training. My wage is good, but I am living frugally so we save a lot ready for a house deposit and emergencys etc. This is important to me. However it is also important that we are avle to go out if we want for a meal or somethnig for a day out because its important to do this too.

We dont drink or smoke either by the way we are not party animals either. Our water rates are £21 a month. Our contents insurance was £70 for the year. But we also run two cars and travel distances to work.

Dont forget phone lines and internet etc which i guess you need for studying...

Good luck!! It migth be good to do a SOA calculator so we can help you more./ I dont have the link maybe one of the others has it for you?

Robert_Sterling_3

Have you got any savings?

Rhianny2244_2

thanks for all the replies guys! god its all so much to take in isnt it? i think i was happier living in blissful ignorance!
the only savings we have is the £600 deposit needed for the flat so not much i am afraid!
i am going to do some extra shifts and get my money up!
thanks again everyone - i am going to do a bit more research before i make any decisions!
Rhian