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Can I afford this?
FirstTimeBuyerQuestions
Posts: 13 Forumite
So I'm just buying a house (offer accepted!) for 125k with a 10% deposit. I'm really after a reality check on my finances.
Monthly income: £1950 (32k annual salary)
Mortgage: £633
Council tax: 75
Internet: 25
Water: 25
Gas + Electric: 160
Train Ticket: 50
Home owners insurance: 20
Mobile: 10
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Remaining: 932
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I understand there's a few small bits left in there such as insurances etc.. But that's the bulk of it.
I have no debts apart from my student loans and the house is large enough that my plans are to rent out a room or two to lodgers (I live in a bedsit at the moment so this is a pretty scary change in finances!)
I was also going to post the house itself, but is that a good idea or not?
Monthly income: £1950 (32k annual salary)
Mortgage: £633
Council tax: 75
Internet: 25
Water: 25
Gas + Electric: 160
Train Ticket: 50
Home owners insurance: 20
Mobile: 10
=============
Remaining: 932
=============
I understand there's a few small bits left in there such as insurances etc.. But that's the bulk of it.
I have no debts apart from my student loans and the house is large enough that my plans are to rent out a room or two to lodgers (I live in a bedsit at the moment so this is a pretty scary change in finances!)
I was also going to post the house itself, but is that a good idea or not?
0
Comments
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Looks okay, but what about TV licence, telephone line (May be bundled in the internet), contents insurance, house maintenance to name but a few other items.
Cheers fj0 -
I don't watch TV so that's ok. If I rented a room out that's when I'd probably have to include it!
House maintenance I plan to try and work up 2k on the side to cover.
Contents insurance I assume is not much!
Interntet is £25 for fibre and no phone line (it's just not required here)0 -
This is ours (for two people)
Item Monthly Cost
Mortgage£635.00
Council Tax£80.00
Water£40.00
Gas£50.00
Electric£50.00
Phone/TV/Internet£35.00
TV License£24.00
Food Bills£350.00
Pet£70.00
Life Cover£10.00
DIY£50.00
Petplan £40.00
Sofa£65.00
B/A Fee£10.00
Fire£30.00
Home/Contents£16.000 -
This is ours (for two people)
Item Monthly Cost
Mortgage£635.00
Council Tax£80.00
Water£40.00
Gas£50.00
Electric£50.00
Phone/TV/Internet£35.00
TV License£24.00
Food Bills£350.00
Pet£70.00
Life Cover£10.00
DIY£50.00
Petplan £40.00
Sofa£65.00
B/A Fee£10.00
Fire£30.00
Home/Contents£16.00
Wow, £350 a month for only 2 people...... It could be half that with abit of planning......make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
FirstTimeBuyerQuestions wrote: »Monthly income: £1950 (32k annual salary)
Mortgage: £633
Council tax: 75
Internet: 25
Water: 25
Gas + Electric: 160
Train Ticket: 50
Home owners insurance: 20
Mobile: 10
=============
Remaining: 932
=============
Food.........Mornië utulië0 -
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