Household running costs

happihorse

I am hoping to buy my first house within the next year or so, depending on the housing market.

I want to make sure that I have an accurate idea of all the bills involved so I can create a workable budget.

I am looking to buy a two bedroom semi-detatched house which is about 20 years old. The house will have double glazing and centre heating.

Can anyone tell me what bills and costs I should expect? (I know this is a very general question, but I am just looking for some idea of the costs.)

sparrer

I can only give you the cost for me, a single person in a 15yo 3 bed dg semi. Gas £53 pcm for heating and hot water - I could certainly cut that down by being more frugal but not being very mobile I don't generate much body heat - elec £28pcm, water £18 pcm. So if you're single it will, perhaps, cost a little less than that

daveyjp

What you will pay:

Mortgage
Life insurance
Council Tax
Water
Gas
Electricity
Building Insurance
Contents Insurance
TV licence
Phone/Broadband

Excluding mortgage that lot is £250 in our 2 bed house.

Then you need to consider ongoing repairs, maintenance and decoration.

anniecave

You can find out council tax bands using the VOA website http://www.voa.gov.uk/council_tax/, and the relevant council website will give you the actual figures for council tax for the year.

happihorse

Thanks for your replies.

I have found out the cost of the council tax and TV licence from various websites - thanks anniecave.

Wow daveyjp - your mortgage costs must be so low! Mine is looking like it will be about £600, based on me borrowing £90,000. (I am working on a rate of about 6% which should hopefully give me enough breathing space if rates go up.)

daveyjp

I did state "excluding mortgage" - it's much more once this is factored in.

happihorse

Doh - I see that now! Thanks for the clarification.