Doing some sums...

TheGardener

I'm trying to come up with a reasonable figure for what I should put aside each month to cover ongoing maintenance for a house I am thinking of buying.

Its 3 bed semi, ex LA built in the 1950's. Roof retiled 10 years ago, new combi boiler 3 yrs ago, new soffits, guttering and downpipes 2 years ago. Windows all fine but about 10 years old. Bricks and mortar (no cladding or render)so its generally in reasonable nick.

Is there a sort of rule of thumb formula or any suggestions? This is a sort of ball park figure I'm looking at - nothing too scientific.

or is it just too random a thing to try and work out?

theartfullodger

£147:32.

Cheers!

bouicca21

Artful is mistaken, that's the figure for an ex LA flat. For a house it ranges between 134.67 and 136.89 depending on year of construction.

marksoton

I'd say £99.99 a month. Paid in coinage at your local bank each month over the counter.

Make them work for their money.

kinger101

In the real world, people either dip into savings or get their credit card out. I wouldn't ring-fence any money specifically for that purpose.

kinger101

marksoton wrote: »

I'd say £99.99 a month. Paid in coinage at your local bank each month over the counter.

Make them work for their money.

It's always nice to throw in a few coppers from Jersey as well. Just to see if they're paying attention.

Cakeguts

Try something different. Don't buy anything that you don't need. So don't buy new gadgets and then see what is left over. The left over is your savings and you don't have to have an actual figure for that but the more you have the better because those savings are how you pay the mortgage if you become unemployed.

marksoton

kinger101 wrote: »

It's always nice to throw in a few coppers from Jersey as well. Just to see if they're paying attention.

I joke you not, i managed to get a Cuban note passed.

Gawd knows how but hey. Bearing in mind this is a tender that is prohibited from leaving said island!

glasgowdan

We've got an ex LA 3 bed smie built in the 1950s with a newish boiler, pretty much what you're looking at. Roughly speaking, in the 7 years we've had it; Electrics - £200 to upgrade the fuse box to a new one. Gas - two visits to check boiler pressure, £100. Roof - £30 to clear the gutters. Walls - 0. Floors - 0. Windows - 0. Garden - I do it myself.

We have spent money on upgrades, which I don't consider maintenance. £3500 on double glazing from single. £400 on new hallway floor. £2700 on new bathroom. Paint and new carpets when we moved in.

Power bills are around £90 a month average, council tax £112 a month.

booksurr

marksoton wrote: »

I joke you not, i managed to get a Cuban note passed.

Gawd knows how but hey. Bearing in mind this is a tender that is prohibited from leaving said island!

Blimey, I couldn't even get a Scottish bank note accepted on the basis it was (they wish) "foreign"

TheGardener

kinger101 wrote: »

In the real world, people either dip into savings or get their credit card out. I wouldn't ring-fence any money specifically for that purpose.

I guess what I'm trying to do is get a feel for the 'real' costs of what being home owner is - I have savings and I have factored in the extra B&M insurance and boiler cover etc but its the mundane stuff I guess, like gutters and drains which is never as enjoyable as spending on the 'upgrade' stuff of course but its the really important, and perhaps overlooked stuff. That's really helpful glasgowdan - I thought there must be plenty people out there who have similar properties