Monthly costs (renting)

gems710

Hello everyone,

This is the first time I have used this site so apologise if this has already been discussed or is in the wrong place.

I am looking to rent a one bedroom flat very soon for around £300-£350pcm and I am trying to work out a budget for other living costs so would appreciate if anyone could give me a rough idea of monthly costs for:
Gas
Electricity
Insurance
Council tax
TV License
and any other costs I may have forgot.

Thank you
Gemma

Fire_Fox

Welcome to MSE! This is indeed asked regularly so well worth using the search function (search button on turquoise band immediately above the stickies on the first page of the board).

Chances are you will not have gas in a new build or newly converted flat, they are almost always all electric. Electric heating is EXPENSIVE so read your meter every month or two in summer and every two to four weeks in winter, so you don't get any nasty surprises. £100 a month is not unusual for winter, it's up to you how many months of the year you use the heating and so how many months you have to pay huge bills. Read the 'Gas and Electricity' board for lots of ideas on how to cut your usage and how to get the best tariff.

Council tax bands can be found on the council's website - as prices of flats vary around the country so does council tax anything from £50 to £150 a month. TV license is £12 a month - £24 if you join halfway through a year - landline is £11 a month, broadband from £6 a month. There are articles on the main MSE website detailing the cheapest providers.

diable

gems710 wrote: »

Hello everyone,

This is the first time I have used this site so apologise if this has already been discussed or is in the wrong place.

I am looking to rent a one bedroom flat very soon for around £300-£350pcm and I am trying to work out a budget for other living costs so would appreciate if anyone could give me a rough idea of monthly costs for:
Gas
Electricity
Insurance
Council tax
TV License
and any other costs I may have forgot.

Thank you
Gemma

You will only need contents insurance
Water Rates
Telephone if you need it and Internet if needed

PasturesNew

Set aside £150/month plus council tax and that'd cover the basics.
Gas/electricity, water, TV license, contents insurance, phone line, broadband.

It's also a good idea to set aside money for your next move, to cover the credit checks and deposit you'd need ... so another £50/month into an account for that.

Doom_and_Gloom

gems710 wrote: »

Hello everyone,

This is the first time I have used this site so apologise if this has already been discussed or is in the wrong place.

I am looking to rent a one bedroom flat very soon for around £300-£350pcm and I am trying to work out a budget for other living costs so would appreciate if anyone could give me a rough idea of monthly costs for:
Gas
Electricity
Insurance
Council tax
TV License
and any other costs I may have forgot.

Thank you
Gemma

Look on your council website for council tax bands. For a 1 bed place you should not have to spend more than what the band C is (more likely B or if you are lucky A).

Electricity and gas would proably cost around £50/month although it really would depend on usuage and if it is done by direct debit or meter (meter usually costs more).

Not all rents include water so you may be looking at around £25/month on water.

As said TV licence is around £12/month.

Contents insurance depends on where you live (risky area or not) and if you are considered a risk. This really isn't something that is easy to estimate. Do you have friends in the area you are looking at in a 1 bed place? If so they have more of a chance at helping you on that.

If the place you move into needs a landline put in for telephone and internet/broadband you will have to go with BT to begin with for a 12-18month contract from what I know. You would also have to pay for insterlation (sp?) for this. If you have a mobile it might be worth it to get an internet dongal (sp?) that has a contract/is pay as you go that you can use anywhere and if you move don't have to worry about doing all over again/transferring if possible.

I don't know where you want to live but £300-£350pcm for a 1 bed place is cheap - I live in kent and I looked at a place that was a small 1 bed for £450pcm :eek:. Depending on where you are you may only get a studio for that money.

Edit: the internet dongal would be for laptop or computer obviously and not a mobile phone, lol.

gems710

Thank you all so much for your help, it's given me a good idea of what my monthly outgoings will be and where to look to get more info, really appreciate it!

I'm from the West Midlands and looking to rent in the Stourbridge or Kidderminster area, there are 1 bedrooms to rent in that price range not usually in the best areas but i'm not on a good wage so can't be fussy, in fact I think I will signing up for a lot of overtime when I move out!

Thanks again everyone

Gemma

Fire_Fox

Why don't you rent a room in a shared house or as a lodger or share a two bedroom flat? Trust me, living alone in a flat is a very expensive business you really shouldn't be relying on overtime. If you are unable to get any overtime or unable to work at all for any reason you will be in trouble very quickly. Sharing can also be a lot of fun and a good way to meet new people.

Doom_and_Gloom

gems710 wrote: »

Thank you all so much for your help, it's given me a good idea of what my monthly outgoings will be and where to look to get more info, really appreciate it!

I'm from the West Midlands and looking to rent in the Stourbridge or Kidderminster area, there are 1 bedrooms to rent in that price range not usually in the best areas but i'm not on a good wage so can't be fussy, in fact I think I will signing up for a lot of overtime when I move out!

Thanks again everyone

Gemma

Depending on your income (and your savings) you may be able to claim Local Housing Allowance which would help you. If you are under 25 you will only be able to claim for the shared ammount but if you are over 25 you will be able to claim for a 1 bed place.

Fire_Fox wrote: »

Why don't you rent a room in a shared house or as a lodger or share a two bedroom flat? Trust me, living alone in a flat is a very expensive business you really shouldn't be relying on overtime. If you are unable to get any overtime or unable to work at all for any reason you will be in trouble very quickly. Sharing can also be a lot of fun and a good way to meet new people.

Flat/house sharing is not for everyone. I was in a flat share for nearly 2 years (quite a while ago now) and I will never do that again. The only person I ever plan on moving in with now into our own place is my fiance. It's not as easy as some people think. As others have said on other threads it is not like an on going Friends episode. There really can be problems and it can tear friendships apart/make living in a place 'hell'. Yes it can, and usually does, make living cheaper but it may not be worth it.

diable

If you are living on your own then you will get a 25% reduction in your council tax.

jayss

For me council tax is £90 a month, band b.

Electric £60 per month but I'm several hundred in credit, so should be about £30. I have a powershower so have to heat water for showers, if you have a normal electric shower it's cheaper.

No gas, no water it's included in the rent as it's part of the service charge the landlord pays.

Food 80-150 depending how good I am.

Insurence £12 through natwest.

Tv licence £145 per year.

You also need to take travel costs into account.