Looking to move out of family home, help with bills please :)

finallydebtfree!!

Hiya! Not sure if this is the right place to post but thought you guys would be able to help

A friend of mine is going to find herself without anyone to live with after christmas as her housemates are all moving on. I am considering sharing with her, we are going to look for a 2 bed flat. I am currently trying to work out whether or not I can afford to do this and trying to work out bills and stuff I will have to pay.

Im sure I will be able to as I shared a one bed flat with my ex bf before I returned to the family home.

So far these are the additional costs I have come up with that I dont have to pay at the moment

My (estimated) share of rent/bills:

Rent: £270 (this is what my friend currently pays so will be looking for something at a similar price)
Council tax: £50?
Water: £15?
Electric: £15?
Gas: £15?
Tv licence: £6?
Phone/broadband: £15?
Food/household necessities: £100?

Not sure if these are realistic prices or not so was hoping you guys could help

EDIT: forgot to add that all rent and bills will be split 50/50, food will be bought seperately

rog2

Not sure about rental prices in Southampton - is the £270 a total rental (if so it looks on the low price) or do you mean £270 each?

Either way, moving out of the parental home is a big step, but you seem to be tackling it well by 'budgeting' up front.

I wish you well. :beer:

finallydebtfree!!

Thanks for the reply, rental is per person, my friend currently pays £270 so we are going to look for something around what she can currently afford.

I am lucky in the fact that over the last year I have put myself on a very tight budget, so think that it should be possible for me to do this.

Also I will cut my transport costs as we are looking for somewhere within walking distance to work (this will save me £38 a month) and also I will have the £100 I currently pay my parents each month. I managed to save an average of £350 per month this year and on top of that must have spent around £2500 on holidays!

southernscouser

How much do you earn? :think:

The way I see it is;

Your bills come to £486 a month. You saved £350 a month, plus £100 rent to the folks which means you have £450 a month. Obviously there is a small shortfall.

finallydebtfree!!

I earn £900 a month after tax (and my pension payment)

kj*daisy

That looks to me like you could do it as after bills and rent you would have £514 left for food and everything else including any savings you could still make.
Good luck.

finallydebtfree!!

think I will be fine, it was mainly just whether my ideas of water/gas/electric etc were about right? Ive only estimated by what Ive found on the site so far

Chollita

Don't forget that if you rent a flat, you will also have to pay the deposit between you, and possibly agency fees.

finallydebtfree!!

thanks for that chollita! luckily I have the money saved for that and my friend will have her share of the deposit too

kj*daisy

Those amounts do look OK, gas/electric may be a bit more if you are not careful with them though.

Jacks_xxx

finallydebtfree!! wrote: »

Hiya! Not sure if this is the right place to post but thought you guys would be able to help

A friend of mine is going to find herself without anyone to live with after christmas as her housemates are all moving on. I am considering sharing with her, we are going to look for a 2 bed flat. I am currently trying to work out whether or not I can afford to do this and trying to work out bills and stuff I will have to pay.

Im sure I will be able to as I shared a one bed flat with my ex bf before I returned to the family home.

So far these are the additional costs I have come up with that I dont have to pay at the moment

My (estimated) share of rent/bills:

Rent: £270 (this is what my friend currently pays so will be looking for something at a similar price)
Council tax: £50?
Water: £15?
Electric: £15?
Gas: £15?
Tv licence: £6?
Phone/broadband: £15?
Food/household necessities: £100?

Not sure if these are realistic prices or not so was hoping you guys could help

EDIT: forgot to add that all rent and bills will be split 50/50, food will be bought seperately

:hello: Hiya hon,

The only thing I can see that you've missed is contents insurance, but I think your share of the gas and leccy might be a tiny bit higher than you've estimated depending on your usage.

The council tax seems low for you neck of the woods as well - but you'd know more about that than me probably.

Well done on planning it out before making the jump. It bodes well for you chick.

Love Jacks xxx