Costs to be considered when buying a house...

Milliewilly

Yes I pay £225 for my house and my friend who has a mid terrace pays £700 (in Liverpool! :eek:)

new_home_owner_3

Milliewilly wrote: »

Yes I pay £225 for my house and my friend who has a mid terrace pays £700 (in Liverpool! :eek:)

Postcodes make a lot of difference as it dictates the crime rates in the area, if its high crime rate area, with regular burgalrys and criminal damage, the insurance is more expensive.

I suppose ites like cars its going to cost more to insure some one who has a crash every 6 months than someone who has never had one.

new_home_owner_3

delmar39 wrote: »

Home and contents insurance shouldn't cost anymore than £200 per year, even for a property that's £200k plus.

I dont thinks its worked out on house value some of it is, but its mainly worked out on the area. And another thing if you live within a cirtain distance of a river the insurance can be un obtainable, so to make a statement that it should cost no more than 200 pound a year is ridiculous.

laughingcow81

I guess this highlights that although we can all give a guide price based on what WE pay, it is impossible to really gauge how much someone else will cost to run a home.

People are all different, we live in different areas with different lifestyles.

These comments are all guides and are no substitute for doing your own research on cost comparison websites / insurance quote websites etc.

gashead86_2

Thanks for all your help guys.

To answer some of the questions...

The mortgage is fixed as I am frankly not brave enough to get perhaps a better deal on a tracker!
We have not rented before, we are both leaving our parents house's.
We have talked about maybe sky but its not important.


It seems to me that if we budget £400 worst case senario for this sort of thing we wont go far wrong. Add that to our mortgage repayment of £735 per month and we are looking at approx £550 a month. Plus shopping etc and its looking expensive! But hey noone ever said it was gonna be cheap!

tek-monkey

Feel the same, so glad I found a 10 year fixed!

If you sign up for sky or virgin (or in fact most services), be sure to check https://www.topcashback.com or quidco. Both can offer you payments just to sign up, I just ordered virgin broadband for my new place and they are giving me £65, sweet.

welshy_2002

as Tek said above, use a cashback site (use them for everything - free money)

If you signed up for Scottish power for instance, you get £110 cashback...

LilacPixie

remember cashback sites for insurances and utilities too OP.

Do you know the council tax banding for the property?? most council websites list the costs for each band on their. I'm 107 a month for a band A including sewrage. Utilities I am £87 a month but use electricity eating things like tumble driers and with young kids have the heating on alot. Life insurance is £16 a month for 150k joint policy. young no health problems etc. B&C insurance £21 a month. TV licence £12 and our TV sky and stuff is another £40 but we don't have a basic package so you could maybe get a better deal.

I would say allowing £400 for household expenses is wise. Remember and save monthly for an emergency fund just incase something breaks down, like your boiler.

matttr6

Just going through this now. Pick up the keys monday!!!

We're both moving out from parents and, despite budgeting pretty well (we thought), can't beleive the cost of it all!! Little things like kettle, toaster, cutlery, all adds up. And as for sols costs, don't get me started on that!!

Mortgage and all bills (bar food, petrol etc) comes to £1k-1100 for us. That leaves about £1k spare to live on which I think should be comfortable.