Disposable Income?

shoe_gal_84

Hi,
My partner and I are in the process of buying our first house together (he already owns a house, which we have sold and I pay him rent). I would like to go in to the new house/mortgage on a 50/50 basis, but obviously need to make sure I can afford this.

I understand that it's different for everyone, but how much disposable income do you think you need left over every month after all outgoings? I go out for a few meals and drinks with friends but we always use vouchers and everyone knows i'll be broke for a while.

Many thanks,

Claire

tallyhoh

I have about £20 a week for clothes, drinks etc.

PasturesNew

When you own a home there's always something to fork out for that was unexpected, whether it's buying the fabulous cushion set you spotted in the shop window that'll "complete" your living room, or the boiler blowing up. Depending on the age of the house, you'll have to set aside money for maintenance that you probably didnt expect; for my 130 year old house over 7 years that worked out at about £100/month (unexpected!).

Think about the maintenance cost when you look at houses, not when you're overdrawn because you hadn't spotted the gutters were loose when you viewed, or didn't expect the high winter winds to loosen 6 tiles because you never looked up at the state of the roof.