Having to move out

dboughtwood

Hi my friend and i are having to move out as our families are moving miles away and we have very good jobs where we are. We bout earn £1000 a month but i ll be earning £1150 at end of nov when my hours go up. we have been looking at places with rent of about £600 a month and was wondering if this is do able on our wages. i have a car loan of £265 a month and car insurance is £145 til nov then its £90 a month after that, i also have a credit card bill which i pay inbetween £100 and £300 off a month. mate has a loan and car insurance which takes around £250 off his wage.

i would like to know our options really and if we can afford a place at £600 or not??? also what sort of price can we look for at bills on say a 2 bed bungalow with oil and central heating etc???

all advice welcome please we have a month or 2

debtfreein4years

i rented a 2 bed flat with a flatmate and i think i paid around £350 a month as my share of the bills that included rent, council tax (water included as scotland), gas, electric, telephone line, and internet. We bought our food seperatly and I spent around 150 a month on me (that was pre mse )That was 2 years ago so prices may have gone up a bit more since then. I was taking home just over 1K a month and had a 6K credit card bill and a 215 a month loan commitment to pay and I managed ok. hopefully your credit card isnt as big as mine was

my budget now for a 2 bed house in england is as follows

rent - 475
council tax - 118
telephone - 20 max usually around 17
water - 18.50 on a water meter and are in credit
gas & electric - 60 always in credit even when home during the day using lap top, tv, cooking every night on electric oven or gas hob etc
contents insurance - 11
sky + internet - 30
tv licence - think its around 12 a month or 140 a year?
plus food.

it could be doable but a bit tight so sit down and go through everything. your monthly expenses, credit card, car insurance, car loan, petrol, saving for road tax, mot, car maintenance, mobile phone? and then play about wiht the figures ive given as a rough idea of what you are going to be looking at paying.

Emma1973

Dont forget:
council tax
water bills
gas and electric
tv licence
house insurance
phone
internet
cable/sky tv
food
social activities

and I'm sure there is more, but be sure to factor all these in as well. Your current outgoings without the half months rent and paying the basic credit card bill of £100 is 455, add on £300 rent takes it to 755, leaving you £395 to spend on the above. Do all the sums before you leave!

debtfreein4years

also forgot to add, you need money put aside for reference checks thorugh an agency, possibly month and a half rent as a deposit that you will get back at the end of your tennancy so you need to pay a minimum of £1100 just before you move in. then possibly need to pay bt to get telephone line connected so its not cheap!

getmore4less

Whats the going rate for a house share with others, you might find a bigger place to share with others/owner cheaper and share the bills out further.

Do you realy want a bungalow, that will have garden and other things to look after, they are usualy a bit more expensive to rent and run(lots of outside wall) unless very well insulated.

tek-monkey

We spend about £1000 for all bills etc. on a rental price of £550, although ours has crap insulation! How much can you each afford a month? Luckily this is for 3 of us, so not that expensive.

As for your insurance, I pay that per year!

carolinosourus

Whereabouts in the country are you? That will make a huge difference to rent etc. Also flats are usually cheaper than bungalows and houses. You may be much better off in a house-share where there is internet etc that you don't have to worry about sorting out, to start with anyway while you get used to taking responsibility for yourself.

Also think carefully about living with someone, you may be the best of friends until you start living together. If you fall out then one of you may find yourself responsible for everything if one of you decides to up and leave. Also, are you both as responsible as each other? One of you might get a bit fed up doing all the cleaning, taking care of all the bills etc etc.

dboughtwood

hi thanks for the replies and the credit card payment can be cut short as minimum each month is £50 but i like paying a fair bit more to take more interest off. we are both reponsible and tidy people. we are in the cambridgeshire area. we both have gf's who would stay prob some weekends as mine lives in bristol and a flat would be ok but not ideal as she has a 6yr old son so would like to have garden so he can go play etc.

we are still in the process of searching and viewing places but we dont seem to go out to much anyway but go swimming, gym and to footy now and then. well insurance i will prob pay yearly after nov as its easier and or i can downside my car i guess if needed.

my rents said they would loan me the deposit money and me and my mate would sign the 6 month agreement then see how it goes after that to be honest.

carolinosourus

I'm a little confused that your parents can lend you deposit money when a few months ago the relationship between you was so sour that you hardly ever saw each other and that you owed them quite a lot of money and couldn't get a loan to pay them back...

tek-monkey

Maybe they just want rid


(joke BTW!)

Fire_Fox

If you earn £1000 a month, but can't save up your own deposit you are going to struggle to budget to pay all the bills associated with your own place.