Average household bills! PLEASE HELP!

trailingspouse

I think it's helpful to distinguish between the things you can control and the things you can't.


So, things like council tax and TV licence are fixed (although you don't have to have a TV!).
Things like gas and electric you can cut to the bone if you have to.
You have to eat - but you don't have to have take-aways or alcohol or the expensive cuts of meat.


Take a look at the 'Old Fashioned Money Saving (all about thrift)' Board.
And the Debt-Free Wannabe Board often has Statements of Account posted on it, which will give you a feel for what other people are paying.



And if, after giving it a lot of thought, you feel that things are going to be too tight then you will have to make the decision to go after a lower-priced house.



Have fun - exciting times!!

TheGardener

I would add a maintenance pot - so for example: a 1950's 3 bed semi in reasonable condition I'd try to save around £100 a month at least to put in a savings account to cover boiler breaking/kitchen appliance/roof/new locks & keys/ replacement of carpets/ double glazing/ general decorating...you know, all the stuff houses need.

SG27

Another thing to add. Do you contribute to pensions? Is you income state after pension contributions? I have no compang pension so pay into a private pension which is another expense

Red-Squirrel_2

I think it’s tight as it is, your mortgage is taking nearly half of your take home.

Are you planning on a long fix, because if interest rates go up by much (and they could) then you’ll be struggling.

Houses need maintaining too, there’s never a year goes by where something or other doesn’t need doing!

Is that take home pay just one wage? Or are you trying to work out what you should put in a joint pot?

If you tell us your actual circumstance we can give better advice.

worried_jim

moneyistooshorttomention wrote: »

:rotfl::rotfl::rotfl: scratch out - calendar still says it's 2018 - era of Pill and legal abortion.:rotfl:

Absolutely! Can't afford 'em, don't have 'em!

Op- buy the house- enjoy it. You will find a way to make it work.

moneyistooshorttomention

Agreed that it's a good idea to sound a note of caution re the fact that interest rates are usually noticeably higher than they have been for the last few years and it's wisest to bear this in mind.

Voice of experience time here - having belatedly bought a starter house in the 1980s (ie when there was normal level interest rates) and then, shortly after that, interest rates shot up to sky high levels temporarily:eek:. A fair number of people struggled to cope with that - I know that for me it meant having lodgers in for noticeably longer than I'd decided to do:cool:

bouicca21

Gas, electric £46
Water (deemed metered) £20
Mobile, landline, broadband £33
Council tax (single person discount) £109
Plus tv licence and contents insurance = £19

As others have said, it all depends on lifestyle. If you are out all day and put on an extra layer when it's chilly, you will have low heating bills, if you are in all day, tending a cannabis factory, then they will be high.

I think your budget will be doable. Mine was much tighter when I was an FTB and that was before mortgage rate hit 15%. We got through it, so will you.

airandwater

Unexpected costs are the ones that hurt most like:

• Broken boiler
• Leaky roof etc
• Faulty dishwasher or washer dryer

Don't forget that contents and building insurance are sometimes required to be paid in full upfront.

Buying a house will in the first year see money flying out of your account like never before. Curtains and blinds are surprisingly pricey so don't forget to factor in a few hundred quid for poles, curtains and blinds.

Many people stretch themselves into the best home they can afford but do consider how much your combined salary will increase in the next 3-5 years. If it's going to remain static or only grow 3% per year then a slightly cheaper house might be better so that you have disposable income after fixed outgoings.

Being house poor can initially be a necessary evil but unhealthy for the relationship if it goes on for years and years.

dawyldthing

Council tax - will depend what band you are on. I had a discussion on my Facebook once. I’m in a older house and it’s band a so £119 a month round here. A lass in school is in a new build, band d I think it was and pays £500 a year more.

Water rates £24 a month (I’ve got grates on the back so I think this is why)
Tv licence I pay upfront or it’s £12 ish a month

House insurance I pay £100 but it depends on your excess (I’ve got mine set high but I don’t intend on putting anything on the insurance to be honest or it goes up)

£50 for electric and gas - I don’t have it on that much to be fair

£18.95 TalkTalk internet and I pay nearly a tenner more for sky sports.

I don’t drive but if you do I’d put possibly £150 a month aside in case of car problems, insurance, tax, petrol and other things. I’d be surprised if many have Change out of it.

A lot will depend where you live. My stepdad pays double my water bill for living closer to town.

Do have Money aside though. I’ve paid anything up to £50 nearly every year to have guttering cleared, had to replace flat roof (£250), got a new boiler when I moved in (I don’t have it serviced but if I did that’s another £80 a year), washers broke so that’s going to be another £300 ish I think. Money can filter out your bank if your not careful.

Oh and think before you do the big purchases - I’m on about the new kitchen, new bathrooms. Ask yourself ‘does it really need to be done?’ As you can often spend several thousand and for what? I’ve been here 6 years, it still functions and I’ve avoided chucking money down the drain on replacing the lot. Have bought paint to paint the drawers eventually but do think about purchases as money takes a long while to earn but it’s easy to spend, esp with a house

capital0ne

Immy96 wrote: »

Hi, im trying to get a rough idea of what me and my partner could pay in household bills? We will be first time buyers hoping to pay a mortgage on average £700 ish a month, would a joint amount of £1600 be enough to pay for average household bills? - Just want to get a rough estimate on basic utility bills and other outgoings that come with owning your house for the first time! Thank you!

Most people are missing the point, this list looks about right:

Council tax: £130
Gas and electric: £70
Water: £25
Home insurance: £15
Food: £250
Tv,broadband: £40
Life insurance £15

except you don't need to include Food, TV, Broadband, Mobile phones,Gym member ship, car costs, because you incur these regardless of owning your own home.

The question was: "Just want to get a rough estimate on basic utility bills and other outgoings that come with owning your house"

Council tax: £130
Gas and electric: £70
Water: £25
Home insurance: £15
Life insurance £15

And you are probably paying these anyway, unless your living at home with mum and dad.

You'll be fine on £1600/mnth Merry Xmas