Home owning - Monthly costs?
Discussion
Would anybody be as kind to post up some rough figures of costs being a home owner? Just the usual stuff such as council tax, water, gas etc etc. I am trying to figure how much it is going to cost me monthly when I can finally afford to buy a house/flat.
I'm in Aberdeen so if anybody else is from Aberdeen could post that would be great but just looking for rough figures at the moment.
Cheers,
J
I'm in Aberdeen so if anybody else is from Aberdeen could post that would be great but just looking for rough figures at the moment.
Cheers,
J
Depends on lots of things however flat is:
£30 direct debit gas / elec
£140 council tax (255 discount on your own)
Insurance £200/yr
Cleaner (handy) £100/month
TV licence £10/month
Parking permit £60/year? depends where you are
Sky/Internet/Phone line optional
Most people cant live without internet so £20 a month for that.
Mortgage depends on how much you have. Borrow £150k over 25yrs, pay back £1000/month on fixed 7%
Random costs for furniture / repairs / tradesman also.
£30 direct debit gas / elec
£140 council tax (255 discount on your own)
Insurance £200/yr
Cleaner (handy) £100/month
TV licence £10/month
Parking permit £60/year? depends where you are
Sky/Internet/Phone line optional
Most people cant live without internet so £20 a month for that.
Mortgage depends on how much you have. Borrow £150k over 25yrs, pay back £1000/month on fixed 7%
Random costs for furniture / repairs / tradesman also.
The past year or so I've looked into getting onto the property ladder.
Here are a few vague costs that I calculated.
House
Council tax £110
Water, Gas, Electricity £100
TV License £10
TV/ Internet/ Phone £50+
Contents Insurance £?
Food £150-£200 (vary)
Total = Roughly £500
Then you have the actual mortgage cost which on a first time buyers house, say £120k+, size of deposit could be anything £400 upwards.
Alot of people just see £500 portgage payments and that is all, but if you don't want to just sit on the couch and look at walls in your new home it can be a considerable lot more.
Here are a few vague costs that I calculated.
House
Council tax £110
Water, Gas, Electricity £100
TV License £10
TV/ Internet/ Phone £50+
Contents Insurance £?
Food £150-£200 (vary)
Total = Roughly £500
Then you have the actual mortgage cost which on a first time buyers house, say £120k+, size of deposit could be anything £400 upwards.
Alot of people just see £500 portgage payments and that is all, but if you don't want to just sit on the couch and look at walls in your new home it can be a considerable lot more.
CharlieHotel said:
The past year or so I've looked into getting onto the property ladder.
Here are a few vague costs that I calculated.
House
Council tax £110
Water, Gas, Electricity £100
TV License £10
TV/ Internet/ Phone £50+
Contents Insurance £?
Food £150-£200 (vary)
Total = Roughly £500
Then you have the actual mortgage cost which on a first time buyers house, say £120k+, size of deposit could be anything £400 upwards.
Alot of people just see £500 portgage payments and that is all, but if you don't want to just sit on the couch and look at walls in your new home it can be a considerable lot more.
How much are you borrowing to pay back only £500?!Here are a few vague costs that I calculated.
House
Council tax £110
Water, Gas, Electricity £100
TV License £10
TV/ Internet/ Phone £50+
Contents Insurance £?
Food £150-£200 (vary)
Total = Roughly £500
Then you have the actual mortgage cost which on a first time buyers house, say £120k+, size of deposit could be anything £400 upwards.
Alot of people just see £500 portgage payments and that is all, but if you don't want to just sit on the couch and look at walls in your new home it can be a considerable lot more.
Strachan said:
Depends on lots of things however flat is:
£30 direct debit gas / elec
£140 council tax (255 discount on your own)
Insurance £200/yr
Cleaner (handy) £100/month
TV licence £10/month
Parking permit £60/year? depends where you are
Sky/Internet/Phone line optional
Most people cant live without internet so £20 a month for that.
Mortgage depends on how much you have. Borrow £150k over 25yrs, pay back £1000/month on fixed 7%
Random costs for furniture / repairs / tradesman also.
You really pay £30 on gas per month and then more than three time that on a cleaner!?!?!?!£30 direct debit gas / elec
£140 council tax (255 discount on your own)
Insurance £200/yr
Cleaner (handy) £100/month
TV licence £10/month
Parking permit £60/year? depends where you are
Sky/Internet/Phone line optional
Most people cant live without internet so £20 a month for that.
Mortgage depends on how much you have. Borrow £150k over 25yrs, pay back £1000/month on fixed 7%
Random costs for furniture / repairs / tradesman also.
And you must have a pretty rubbish mortgage deal to be on 7%.......
Sarnie said:
You really pay £30 on gas per month and then more than three time that on a cleaner!?!?!?!
And you must have a pretty rubbish mortgage deal to be on 7%.......
That isn't my mortage rate. I just presume that is typical starting for first time. Totally wrong?And you must have a pretty rubbish mortgage deal to be on 7%.......
Cleaner woman is £25 a week my mistake, 2hrs. Irons shirts and er, cleans.
And don't forget if you're living in a flat the service charges / maintenance fees. If you have share of the Freehold (or not), you may also be liable for sharing repair costs. These can be ten's of thousands in older mansion blocks (if you're unlucky enough to have to do the roof, say). There maybe a fund provision you need to make dependent upon the lease / freehold covenants.
Other additional costs on top of the mortgage are life insurance and critical illness / sickness and even redundancy coverage. These can easily add 50-100 quid a month.
None of the above mention over monthly recurring charges, mobile phones, gym memberships etc. The food bills at 150-200 per month look optimistic, unless you like Netto's own brand beans and forego beer.
All that before the costs of running / fuelling a car (this is Pistonheads after all).
Other additional costs on top of the mortgage are life insurance and critical illness / sickness and even redundancy coverage. These can easily add 50-100 quid a month.
None of the above mention over monthly recurring charges, mobile phones, gym memberships etc. The food bills at 150-200 per month look optimistic, unless you like Netto's own brand beans and forego beer.
All that before the costs of running / fuelling a car (this is Pistonheads after all).
Bungalow, detached, 3 beds
Mortgage £490/m (120k over 22 years)
Electric £50/m
Gas £50/m
Water £53/m
Council tax £112/m (note - 10 months only)
TV licence £12/m
Insurances £400/y
Other stuff is discretionary spend (satellite TV, internet, phone etc) so not included. The gas and electric figures may be subject to change, I haven't been here a year yet so we'll see if there's a refund or shortfall on the amount paid by monthly DD at that time.
Mortgage £490/m (120k over 22 years)
Electric £50/m
Gas £50/m
Water £53/m
Council tax £112/m (note - 10 months only)
TV licence £12/m
Insurances £400/y
Other stuff is discretionary spend (satellite TV, internet, phone etc) so not included. The gas and electric figures may be subject to change, I haven't been here a year yet so we'll see if there's a refund or shortfall on the amount paid by monthly DD at that time.
Gassing Station | Finance | Top of Page | What's New | My Stuff