Cost of running a house...

krayzechick

Not really sure which forum this goes into. I just need some advice.

First of all a little background. me and my boyfriend have been together for 5 years now and really want to take the next 'step' and live together. There are two hurdles to overcome first; we live 150 miles apart and I have £15k debt to pay off.

My debt situation is being resolved. I 'came out' to my parents about it and they kindly helped me sort things out with debtors. I now have just the one loan to pay off at £470 a month for the next 24 months.

I am looking at being the one that moves so obviously need to look for jobs. Have found two which I will apply for which are v.similar to what I earn now. my bf currently earns £1000pcm, and I am looking at applying for jobs at £1400pcm (which is what I currently take home.)

What I'm not sure of is, on an income of £2400 a month between us, can we afford to rent a house together? How much are bills etc these days?

we have no kids or pets.
we have two cars which we would need to keep as we would work in completely different cities. my car tax is £155pa, and insurance is £400pa (paid annually). His is £300pa and £800pa.
we both have contract phones at approx £35pcm
my loan is £470pcm. bf has no debts other than student loan.

we would be looking at renting a two bed house in Lincoln (or surrounding area)

Please help. my parents household bills arent comparable so I have nothing to base my budgets on.

Emmzi

have a look at rightmove for rents

have a look at SOAs on the debt free wannabe board for an idea of general bills

work out how much it would cost, split in 2

both of you put that away from your wages for 6 months to see if you can do it. (hint: if only one of you can, do not live together!)

that will give you enough of a deposit for a rented property.

puddy

bottom line is more than you think

no matter how much i try to plan or make savings we are always over drawn each month and can never save. theres always something that needs fixing or maintaining, next month its the yearly house insurance, we currently have 2 leaks and leaky guttering, that all will cost hundreds which we dont have

krayzechick

Emmzi wrote: »

work out how much it would cost, split in 2

both of you put that away from your wages for 6 months to see if you can do it. (hint: if only one of you can, do not live together!)

6 months?! =/ The jobs are in schools so would require starts in September (obviously, need to get the job first!)

rents in the area are approx £500pcm. Deposit for property wouldnt be a problem as parents have agreed to pay that.

krayzechick

puddy wrote: »

bottom line is more than you think

no matter how much i try to plan or make savings we are always over drawn each month and can never save. theres always something that needs fixing or maintaining, next month its the yearly house insurance, we currently have 2 leaks and leaky guttering, that all will cost hundreds which we dont have

For a rented property isnt maintenance covered by the landlord?

SmlSave

Hi hun

Me and my DH can survive on £1400 a month (our mortgage is £700) its a two bed terrace on a water metre. This is just for the household stuff (bills, insurance, food etc) - not the car or our mobiles

Emmzi

well, 4 months then.. you're best finding out now if your lifestyle can't adapt to the costs...

pebbles88

Emmzi wrote: »

well, 4 months then.. you're best finding out now if your lifestyle can't adapt to the costs...

:T:Tvery very sensible:T:T

it might seem a pain, but wouldnt be half as much as finding out you couldnt cope once you have made the move.

its tricky to work out exactly how much it would be, so if your parents are paying the deposit the savings could be a good emergency fund if needed.

hth

DS4215

Are you both renting now or living with parents? - if you are both renting separately then it will probably cost less than what you are paying between you. If you live with parents how much you are each paying them? - is it comparable?

dearbarbie

maybe look for a 1 bed place first?