Never knew it cost this much to run a home!

nearlyrich

£77 - Council Tax - ours is £130 pm, one of the dearest councils in the UK!
£10 - TV Licence Sounds about right
£15 - House insurance..ours is due for renewal but it's about that (4 bed detached)
£20 - Water our bill is £50 per month
£48 - Electric - might be a bit less if you're on your own £30 here
£48 - Gas - £32, (central heating,shower, cooking & tumbledryer)
£25 - BT phonebill - £10.50 Talk talk then about £3 calls
£25 - broadband - £17.99 is about the cheapest for a mainstream provider.
£40 - Sky - paying £20 now it's going off next month as we don't need it.
£100 - Food - we spend about £250 per month (4 adults) we don't buy meat fish & veg from the supermarket anymore.


I think you should be making your own decision about when's the right time to make a big committment like living with someone and buying a house, you are only 20 and you should be out having fun, plenty of time to settle down and be responsible later. Also if you are thinking of emigrating you will have the hassle of selling everything, why not live a little and do what's right for you..

Sofa_Sogood

nearlyrich wrote:

....you are only 20 and you should be out having fun, plenty of time to settle down and be responsible later. Also if you are thinking of emigrating you will have the hassle of selling everything, why not live a little and do what's right for you..

I've got to agree nearlyrich. Twenty seems really young now that I've read it again.

But I suppose it's worth replying to just in case he changes his mind about emigrating?

dean_ham

gizmoleeds wrote:

My cousin moved to the US and says although products are cheaper (and this gap is narrowing) bills are more expensive. Something to bear in mind.

And I don't know why you blame the government - aside from taxes, none of those expenses are set by them and most are comparable to other countries. Is it Blair's fault you pay £40 a month for Sky, should Brown's budget include free food for you??

Thats what im talking about - taxes. I would be better off if i got my girlfriend pregnant with 3 kids.

Transport in the country is rubbish!

etc etc..

dean_ham

Yes i will more than likley wait 2 even 3 years before i buy. Thats the latest i will leave it, 23 years living with mother is a long time about time i moved out and theres no way im renting as it costs roughly the same as a mortgage.

Ian_W

dean_ham wrote: but i got so many people trying to persuade me to get a house with my girlfriend but i really will be living beyond my means!

Lots of comments above that I certainly wouldn't disagree with, but no mention that I can see of your girlfriends income. If you were buying jointly with her, presuming you see the relationship as long-term, then her income should also be factored in. Very often [not a new thing, I assure you] single FTB's are in a much less favourable position than joint buyers, whether that's as a couple or friends agreeing to buy a first property together.

Second point - why a 3 bed terraced? Are there no cheaper 2 bedroom terraced or flats in the area? To buy the same size house as your mum produces not only higher running costs which you've identified, but also a higher purchase price and mortgage. Unless you intend to start a family soon, which doesn't sound the case, or have some other reason for NEEDING 3 bedrooms, then trying to enter the *property ladder* further up the line than you need to will obviously make it more difficult financially.

Finally, whether you buy at 20 is something only you can decide. Listen to all opinions but make up your mind based on what suits you and your circumstances. Best of luck whatever and whenever you decide.

Woby_Tide

that said with a larger house he'll save on going out money as he'll be busy tidying and cleaning....;)

dean_ham

In this area nearly all the terrace houses are 3 bed.

There are one or two properties that pop up that are 2 bed, which have been knocked from a 3 bed to a 2 bed = bigger bedrooms. Making the price of 2 bed terrace home the same as a 3 bed terrace home.

I am not interested in buying a flat, flats are very rare in my area.

I dont really need a 3 bed, 2 bed will be fine. Its just most the properties are 3 beds!

And when i come to sell in X years time i belive a 3 bed home will be easier to sell on.

On that thought....

What would you rather have, 2 bed terrace with larger than average bedrooms AND an attic conversion or just a 3 bed terrace with medium size bedrooms?

http://www.propertyfinder.com/2/pf/property/searchResults.do?action=ATN_SET_PAGE_SIZE&pageSize=20

^ Properties around my area

meanmachine_2

Dean, I'm sure you've got the hang of this forum now.

Certain posters, with an axe to grind will always try to flog you a house, and others will always try to persuade you to wait.

Balance up the two arguments and then make your own mind up (as you appear to have done).

There's a very odd London-centric bias to these forums where people think you can always just buy "a one bed or a studio". In most towns there aren't any flats, and the smallest property is a terrace, or two or three bedrooms.

That is the first rung on the ladder.

As for running a home, I'd say it's twice as expensive as your worst nightmares, given maintenance and unexpected costs (tiles falling off, general repairs).

Some of the budgeting advice on here is also highly suspect. There aren't 70 channels on freeview. Its coverage is extremely patchy, and the only broadband provider which you can sign up with for a tenner is UK Online, in the major cities.

I pay 24 quid for my broadband and I wouldn't skimp on that as it's incredibly reliable. You get what you pay for, and sometimes paying less costs you more.

Sorry to blow the whole ethos of moneysaving out of the water, but occasionally life's too short to buy the 8p can of beans that taste like crap.

dean_ham

Thanks MM, I will be waiting for another 2 years and carry on saving them £££.

I just didnt realise how expensive it costs to run a home. As you said freeview in my area is not available, and from what I have heard, it wont be available for atleast another couple years so thats out of the window.
I would rather have a decent reliable £20-25 isp and settle with the 4 terrestrial channels rather than paying £20-30-40 for Sky.

Oh well wish me luck in 2 years time when i take the plunge and with a bit of luck the prices will be a bit more reasonable than what they are at the moment!

By the way I found this news article from yahoo....

http://uk.biz.yahoo.com/mortgage/firsttimebuyersheadnorth.html

"First time buyers told 'head north'"

It mentions that.....

RBS is also tipping Teeside in Middlesborough, Ardwick in Manchester, Falkirk in Scotland and Ferndale in Wales.

Ferndale being 5 miles away from where I am living at the moment.

and also

The other places to make it into the top 10 were Kingston-upon-Hull, Blaenrhondda in South Wales, Stratford in London, north central Stoke-on-Trent and Leven in Scotland.

Blaenrhondda being a mile up the road....

gingerdad

Our budget for a family of four in the North, 3 bed semi

£130- Council Tax -
£10 - TV Licence
£16 - House insurance (Buildings and contents - we do live in a low rated area)
£24 - Water
£20 - Electric - might be a bit less if you're on your own
£35 - Gas - ditto
£10.50 to BT and 4.00 ish to Talktalk
£17.99 - broadband
£0 Freeview
£70 per week, we supermarket shop once a month, vist one of the local farmers markets once a month and everything else is from the local butcher and veg shop. If we needed to we could cut this back.
£250.00 Mortatge

As regards to the buy now or wait, you are in a superb position as you have a large deposit, but only you can make the decission and after all you are only 20.