Estimate monthly costs for a an average 2-3 bed home (West Midlands)

playaz

Hi guys,

I am looking to purchase a 2 or 3 bed house in the West Midlands - my budget is around 100k - 130k. Obviously I know there are many factors involved but can people assist me in calculating average running monthly costs to help me ensure I can afford to have a mortgage.

Just wondered what everyone else is paying on their mortage, gas, water, electric, council tax... etc.. each month

It is one big commitment and I just want to make sure I am ready for such a big decision.

motherofstudents

I think this question came up a few weeks ago so you may want to search but I'll give you an indication of my monthly costs. It may give you an indication as everyone is different.
Mortgage £771
mortgage overpayment £500
water £37 (no meter)
council tax £129 (over 10 months)
gas and electricity £117
House insurance £22 (you can probably shop around and get it a bit cheaper)
life insurance £18
gas boiler cover £16
phone/broadband/tv £32

that's all I can think of, but there are always extra things. Try the budget planner on this site, it is very good for showing how much you need to allocate per month.

playaz

motherofstudents wrote: »

I think this question came up a few weeks ago so you may want to search but I'll give you an indication of my monthly costs.

I cannot seem to find that post - any ideas on the the thread title? thanks

motherofstudents

https://forums.moneysavingexpert.com/discussion/3866167

I think this was what I was thinking of, don't know how useful this might be to you. If I have not managed the link, you can find it by searching 'how much do you spend on bills' posted on 24 March.

playaz

I will have a look - and post back if I find it

UPDATE: Found it
https://forums.moneysavingexpert.com/discussion/3866167