New flat - running costs

suzy.lee

Hi,
Im hoping to move into a 1 bed flat soon in the north, but I have no idea how much it will cost for electricity, gas, council tax etc. . . I was just wondering what the 'at worst' costs for these would be? Any help is really appreciated!

I was also wondering what insurance would be covered under renting - if any.

I don't have any extras such as cable/sky and I don't drive a car.

Also have I missed anything off...
Food
Phone/Internet
Council tax
Water
Gas
Electricity

thanks

PasturesNew

I live alone and have done so in a 6-bed house and now in a studio. If you live alone you can keep most of the costs pretty much the same.

e.g. Electricity and water are often no more because you're not running more appliances or lights and not having more baths or flushing the loo more just because the property is bigger.

Below are what I'd expect for a 1-bed, with a person living alone:

suzy.lee wrote: »

Food - should be able to eat easily for £100/month
Phone/Internet - £12 + £18 (can do it cheaper with deals, but these are standard type charges)
Council tax - £80 - variable, depending on area. You will get a 25% discount for living alone
Water - £12 if on a water meter; up to £40 if not. If you are not on a water meter phone them up to get one fitted; if it can't be fitted they will put you on an assessed charge which would be more likely to be £25/month
Gas - £15
Electricity - £15

Also:
TV Licence - £12
Insurance - £15 - check out Endsleigh Insurance for Tenants. Under that your contents are covered + anything belonging to your landlord that you damage. Also, should your flat be broken into or windows smashed/similar then there's an extra you can have on the insurance to get a locksmith/whatever out immediately, rather than having to try to track down the landlord urgently or in the middle of the night.

As a rule of thumb, I'd say bills are £200/month, so I'd say put aside £250/month to pay for all bills (except food).

Good luck!

davetrousers

A TV licence will cost double that for the first 6 months, as you pay for the first 12 months across 6 months!

When saying Water, remember waste water charges as well.

beecher

£30/month for gas/electricity doesn't seem very much to me - I live alone and pay £55/month as prices have risen quite dramatically.

The only thing I can see missing is transport costs - will you need to commute by bus/train?

mlz1413

suzy.lee wrote: »

Hi,
Im hoping to move into a 1 bed flat soon in the north, but I have no idea how much it will cost for electricity, gas, council tax etc. . . I was just wondering what the 'at worst' costs for these would be? Any help is really appreciated!

I was also wondering what insurance would be covered under renting - if any.

I don't have any extras such as cable/sky and I don't drive a car.

Also have I missed anything off...
Food approx £100 month, but remember to add buying sandwiches/lunches, if you buy wine/beer for home.
Phone/Internet between £20-35 pm at home plus your mobile costs
Council tax you can find this out but £100pm should cover you.
Water £10-30pm again depends on how much you use.
Gas
Electricity with rising costs I would budget £40 each, then hopefully it will be much lower!

thanks

Again you need to add a TV licence, can be paid in one go or monthly, do you have a current life insurance policy? You need to get contents insurance too. Do you pay into a pension currently?

Also you haven't budgeted anything for going out, do you have any memberships like gym / sports clubs or cinema subscriptions to pay out?

Walletmoth_3

Council tax really depends on the area and the banding, home insurance can be as little as £30 a year or can go up to £300 a year depending on your area and what you need covered. The other posters are about right when it comes down to utilities, phone etc.

I would recommend visiting your local council's website to find out the cost of council tax. I would also go on a site like money supermarket to get a rough idea of contents insurance prices in your area, don't worry about being to acurate with the quote, it only matters if you are going to buy it.