First time Renting

AdamMcA

Hi,

Me and my 3 Friends are seriously looking to move out and we've found a 3 Bed Apt for £765pcm our budget is £400 each pcm which gives us £1200 would this be enough to cover rent and Utilities and food bills

Budget = £1200 - (Rent £765) = £435 for bills and food is this enough?

Thanks

BitterAndTwisted

Don't forget Council Tax. Depending on area this could add another £100 a month or more.

Heating and hot-water costs vary depending a lot on how well/poorly the proprty is insulated, what form of heating is used and how balmy you like it to be. I'd say that £200 a month in winter should be plenty.

Household expenses aren't normally shared except for communal stuff like laundry detergent, loo rolls tea-bags and milk. Shopping and cooking together loses its attraction quite quickly.

Cisco001

I though it would cost around £1100 with food bill excluded.

Cycrow

is the £400/month all the money you have, or is that just what you are planning to put aside for bills ?

ie, do you need to include other things like entertainment/clothes, etc

i think just for bills you might be ok. U'll need about £100 or so for council tax, same again for electric/gas, and £200 for food, could be doable
with the remaining £30 covering the water.

in the winter gas/electric would be higher for heating so you will need to be aware of that.

The food budget might be a little low for 4 people

witchy1066

4 people , £400 each = 1,600

which should be enough providing one of you are good with managing money

Cisco001

Cycrow wrote: »

is the £400/month all the money you have, or is that just what you are planning to put aside for bills ?

ie, do you need to include other things like entertainment/clothes, etc

i think just for bills you might be ok. U'll need about £100 or so for council tax, same again for electric/gas, and £200 for food, could be doable
with the remaining £30 covering the water.

in the winter gas/electric would be higher for heating so you will need to be aware of that.

The food budget might be a little low for 4 people

TV license? Broadband & Telephone?

BitterAndTwisted

Are you aware of the possible consequences of entering into a joint-and-several contract with your chums? That's if the landlord is willing to let to three separate people and doesn't need a license to let an HMO?

Cycrow

Cisco001 wrote: »

TV license? Broadband & Telephone?

technically you dont need any of those.

but he asked about covering utilities and food, no mention of anything else.

thats why i asked if they had any money on top of the £400 for other things

witchy1066

OP said "me and my 3 friends" that makes 4 of them sharing

4 people x 400 = £1600

that should be affordable,