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First Time Buyer Budget

smeds
smeds Posts: 16 Forumite
in House buying, renting & selling
Hi All,

I am looking into moving out into a 2 bed apartment / house on my own and wondering what roughly other people are paying?

I have done a slight budget but not sure if i have the costs correct.

Contents + Buildings insurance -15
Gas and Electric -65
Water -35
Phone + internet -20
TV License -15
Mortgage -500
Food -180
Fuel -70
Council Tax -90
Mobile Phone -38

Thanks in advance

Paul
«13

Comments

  • Suarez
    Suarez Posts: 970 Forumite
    Service charge?
  • smeds
    smeds Posts: 16 Forumite
    Suarez wrote: »
    Service charge?

    Ahh yes, i need to find out how much this will be from the new build sales people

    ta
  • Suarez
    Suarez Posts: 970 Forumite
    It may also include the building insurance so you will just need contents. Ours works out at about £1 a month after topcashback :)
  • hazyjo
    hazyjo Posts: 15,475 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    A few possibilities if you're including all outgoings...

    Ground rent
    Sky?
    Any pets? - insurance, food, jabs, etc
    Critical illness cover/income protection?
    Pension?
    Travel/commuting? (or all covered under 'fuel'?)
    Car costs - (insurance, MOT, service, tax, maintenance, etc)

    Jx
    2024 wins: *must start comping again!*
  • smeds
    smeds Posts: 16 Forumite
    hazyjo wrote: »
    A few possibilities if you're including all outgoings...

    Ground rent
    Sky?
    Any pets? - insurance, food, jabs, etc
    Critical illness cover/income protection?
    Pension?
    Travel/commuting? (or all covered under 'fuel'?)
    Car costs - (insurance, MOT, service, tax, maintenance, etc)

    Jx


    Hi,

    Dont think i will have to pay ground rent although shall check,
    Will have to deal with freeview at first
    No Pets
    Already included pension
    The fuel allows for a tank of fuel so 500+ miles and then my work miles are paid for
    And no car costs as company car
  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
    Part of the Furniture 10,000 Posts
    smeds wrote: »
    Hi All,

    I am looking into moving out into a 2 bed apartment / house on my own and wondering what roughly other people are paying?

    I have done a slight budget but not sure if i have the costs correct.


    Paul

    Out of what? Your parents' house? Do you have any furniture or white goods?
  • smeds
    smeds Posts: 16 Forumite
    LandyAndy wrote: »
    Out of what? Your parents' house? Do you have any furniture or white goods?

    Hi,

    My parent's house so have minimal furniture but have already budgeted for purchasing the required stuff. Was wondering about standard monthly bills
  • Tancred
    Tancred Posts: 1,424 Forumite
    smeds wrote: »
    Hi All,

    I am looking into moving out into a 2 bed apartment / house on my own and wondering what roughly other people are paying?

    I have done a slight budget but not sure if i have the costs correct.

    Contents + Buildings insurance -15
    Gas and Electric -65
    Water -35
    Phone + internet -20
    TV License -15
    Mortgage -500
    Food -180
    Fuel -70
    Council Tax -90
    Mobile Phone -38

    Thanks in advance

    Paul

    £6 a day on food - seems a bit tight to me. What about holidays, clothes, hobbies etc?
  • LandyAndy
    LandyAndy Posts: 26,377 Forumite
    Part of the Furniture 10,000 Posts
    You need to have something in hand for repairs and renewals. I know it isn't a monthly cost but better to have some sort of fund being built up. Reckon on 1-2% of the property's value per annum.
  • mel48rose
    mel48rose Posts: 513 Forumite
    Uniform Washer
    I would make sure I have a contingency fund for emergencies etc. Good luck.
    If you change nothing, nothing will change!!
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