Can anyone help with budgeting cost for 1/2 bed flat

pastmybest

I know I have seen on these forums, over several months, people sharing figures in connection with costs of running a 1 or 2 bedroomed flat or maybe house. I have searched but just can't find the postings. Can anyone help me with this?

I am trying to work out the approximate running costs for when we make a big downsizing move. So help on heating, gas, electricity, water, etc would be really good.

dmg24

You might be best on the Debt Free Wanabee board x

pastmybest

dmg24 wrote: »

You might be best on the Debt Free Wanabee board x

Thanks. I know I have read these types of posts & either on this one or the house buying or renting one. So if no reply will put one on there. It is OK to put the samepost on differing boards or will I get told off :-)

dmg24

They won't mind on the Debt Free Wanabee board, but they might get a bit stroppy on the Housing board (but don't tell them I said so! ) x

PasturesNew

dmg24 wrote: »

They won't mind on the Debt Free Wanabee board, but they might get a bit stroppy on the Housing board (but don't tell them I said so! ) x

Saw that!
:P

PasturesNew

As a rough rule of thumb, I'd recommend that you need to put aside £220/month for somebody living alone in a 1-bed house/flat.

So, for a larger one it's more like £250.

What I'd expect this to cover is:

£70 - Council Tax
£40 - Gas/Electricity
£40 - Water (if not on a meter; if on a meter, £15)
£15 - Contents Insurance
£12 - TV License
£30 - Phoneline/Broadband (max, can get cheaper deals depending on companies/services available in your area)
====
£207

As for down-sizing, there can be significant savings made.

I rent. I rent a studio flat (0 bedrooms). To rent a 1-bed flat would mean paying more rent and more council tax, it would also mean a larger heating bill. I figure I am saving £150/month by living in the smallest space I can. That's a whopping £1800/year in my pocket and not somebody else's.

pastmybest

Thanks PasturesNew I appreciate the time you havetaken to help.