Bills for a 2 bed mid terrace?

concrete_kid

Yes, I know, how long is piece of string...

I'm saving up to buy my first house and am trying to make a realistic budget, however I've never lived in a 2 bed terrace so I'm unsure what it will cost.

I'm wondering what people pay in total for utilities, buildings insurance, water...so everything basically. Hopefully it will give me a rough idea of how much to budget.

It will be in Liverpool, a small mid terrace and I'll live there alone.

I also read somewhere that you should budget 1% of the houses value per year for maintenance and upkeep, does this sound right. The house will be about 85k.

Thanks in advance

R_P_W

I used to live in a two bed Victorian terrace. Loft was insulated but windows single pane original sash. I had a circa 95k mortgage and I was paying following...

Mortgage 500
Council 110
Gas 40
Electric 40
Water 40
Buildings and contents 21
Life ins 17
Food was about 300
Landline 15
Internet 15
Sky 50

Money for maintenance I think is a bit more difficult. Depends on the state of the property, but I guess as a minimum you should try and put some money aside each month for it....getting gutters cleared, painting windows, boiler service etc

dj.boz

R P W has the figures about right, I had a 2 bed mid terrece in the midlands with the bills being about the same.

1% of the house value per year (for an older property sounds about right). I lived there for ten years, and little maintanence jobs would come up (kitchen replacement, roof replacement, boiler fix, etc). Whilst it wasnt a set budget each year as it is more spiked than that. Whilst we were aware that the roof would need replacing at 'some stage' we didnt expect it to suddnely develop what felt like a million leaks.

concrete_kid

Thank you R P W. Really helpful, gives me a good starting point.

MrsRobbo17

R P W's figures are bang on. Ours are that on 2 Bed Mid Terraced in the Midlands.

Duskylady

We live in a 2 bed terrace now, only single pane windows but loads of loft insulation.

Our gas and electric are £100 per month and water is £37 council tax is £115. Tax band B in chester.

Sky do my tv Internet and landline for £60 per month

We are renting so can't comment on building insurance.

davenport151

R_P_W wrote: »

Mortgage 500 a lot Less but not really comparable as 19 years in.
Council 110 Ours is slightly more but thats SC council for you.
Gas 40 A little less for us but thats only for heating as cooker is electric
Electric 40 Spot on
Water 40 Slightly more £44 - once again thats our area
Buildings and contents 21 £17
Life ins 17 we have an endowmwment so incl in m/gage
Food was about 300 less - £240 (2 adults, 1 child) but thats always something that can be tweaked with
Landline 15 Same
Internet 15 Incl in sky package
Sky 50 Same

I agree with maintenance being the tricky one. Is it new or fairly new build? Ours was 7 years when we moved in. So this may just depend on anything you want to change.
In the first few years we were only repairing small things like taps and I seem to remember the pump went on the heating system.
Well done for thinking ahead.
The other thing is budgeting the first few months as things can come along at different times. Plus budgeting to how the mortgage and other payments come out.

sKiTz-0

Just to add that I was going to reply but the figures quoted above seem spot on. I live on my own in a 2 bed mid terrace.

Deep_In_Debt

Similar for my bills too as I live in a 2 bed mid terrace.

The only differences I have (apart from mortgage and CT) is that I don't have gas only electricity and I pay about £40pm for that and my water is metered and I pay £10pm for that so it may we worth considering having a water meter fitted if it is likely to be just you living there.