Help with costing my departure from the safe haven of home?
Discussion
Hi chaps, apologies if this is in the wrong section and before we get onto a debate about buying vs. renting, I have no real choice in this.
Due to a big feck off fall out in the last few days my parents have decided that, at 23 years old, it's about time I grew up and moved out. This sadly means selling my Jaguar as on my wage I can't afford both.
My thoughts are turning to studio apartments in Sutton Coldfield, Birmingham. These typically cost somewhere between £300 and £400 per calendar month to rent, so I'd base any figures on £400 to be safe.
I work in the Centre of Birmingham and to get a train pass for the journey in is just shy of £60 per month.
Sadly this is where my knowledge of running a home and commuting to work etc stops, so I was wondering if somebody had a basic list of sorts to help me work out what I can and can't afford and help me budget for what is going to be a huge culture shock?
At the moment I have the following.
Monthly take home salary: £987
Rent per month: £400 approx
Train pass per month: £60 approx
These studio apartments seem to typically have electric storage heating, don't know much about the costs of that. Council tax, is there somewhere on the internet that I can find out how much it is? What else should I consider? I don't eat a huge amount, so budgeting £100 should easily cover it.
Anything else?
Cheers in advance,
Adam.
Due to a big feck off fall out in the last few days my parents have decided that, at 23 years old, it's about time I grew up and moved out. This sadly means selling my Jaguar as on my wage I can't afford both.
My thoughts are turning to studio apartments in Sutton Coldfield, Birmingham. These typically cost somewhere between £300 and £400 per calendar month to rent, so I'd base any figures on £400 to be safe.
I work in the Centre of Birmingham and to get a train pass for the journey in is just shy of £60 per month.
Sadly this is where my knowledge of running a home and commuting to work etc stops, so I was wondering if somebody had a basic list of sorts to help me work out what I can and can't afford and help me budget for what is going to be a huge culture shock?
At the moment I have the following.
Monthly take home salary: £987
Rent per month: £400 approx
Train pass per month: £60 approx
These studio apartments seem to typically have electric storage heating, don't know much about the costs of that. Council tax, is there somewhere on the internet that I can find out how much it is? What else should I consider? I don't eat a huge amount, so budgeting £100 should easily cover it.
Anything else?
Cheers in advance,
Adam.
Good on your parents!
How about a house share. That did me for about 10 years until I had enough to get my own place.
Flatting should be about that all up with all bills. Plus its more social and you get to learn to live with others.
Sometimes good and bad, but IMO essential for preparing for living with a partner.
The you will have spare cash for a nice car
How about a house share. That did me for about 10 years until I had enough to get my own place.
Flatting should be about that all up with all bills. Plus its more social and you get to learn to live with others.
Sometimes good and bad, but IMO essential for preparing for living with a partner.
The you will have spare cash for a nice car
jas xjr said:
Why not find an apartment in the centre of brum. Must be lots of choice
The main reason for my decision to live outside of the centre is because I don't like it there, and it's also cheaper on the outskirts even if you include the cost of a train pass.ringram said:
Good on your parents!
That's ill-informed.ringram said:
How about a house share. That did me for about 10 years until I had enough to get my own place.
Flatting should be about that all up with all bills. Plus its more social and you get to learn to live with others.
Sometimes good and bad, but IMO essential for preparing for living with a partner.
The you will have spare cash for a nice car
This is a good point. Not sure about sharing with strangers and not really sure that I know enough people to share a house, but I'll look into it thanks.Flatting should be about that all up with all bills. Plus its more social and you get to learn to live with others.
Sometimes good and bad, but IMO essential for preparing for living with a partner.
The you will have spare cash for a nice car
N Dentressangle said:
Find a nice houseshare instead.
Unless you're really deeply anti-social, it's more fun than a flat on your own at your age, and you'll meet more women.
Job done.
I'm not deeply anti-social, but I don't drink and people tend to translate that into not being particularly good fun.Unless you're really deeply anti-social, it's more fun than a flat on your own at your age, and you'll meet more women.
Job done.
2 Wycked said:
I'm not deeply anti-social, but I don't drink and people tend to translate that into not being particularly good fun.
I know what you mean, I told someone at work I didn't drink and he said "oh you must be one of those paedophiles then?" 
It was because of a medical reason but I wasn't about to go reeling off my medical history to a t
t like that.2 Wycked said:
Thanks ILoveLamp, that's the sort of breakdown I was hoping for. A friend of mine has expressed an interest in flat sharing. I think this is a better bet than sharing a whole house with people I don't know.
Cheers guys.
Establish some groundrules if you are going that route. What happens when you or friend wants to move girl/boyfriend in?Cheers guys.
Living with strangers is often easier!
UpTheIron said:
stablish some groundrules if you are going that route. What happens when you or friend wants to move girl/boyfriend in?
Living with strangers is often easier!
We'll discuss this further the next time we're at the pub I'm sure. Valid input though, it wasn't something I'd considered.Living with strangers is often easier!
UpTheIron said:
stablish some groundrules if you are going that route. What happens when you or friend wants to move girl/boyfriend in?
Living with strangers is often easier!
Good advice.Living with strangers is often easier!
Moving in with a mate can be like buying a car off one. It's just a lot easier in many ways with people you don't know.
I know it's daunting moving in with strangers, but you can always move out again
ontop of your £460 which is rent and train pass you may consider
sky £50 can have freeview though
council tax, get 25% single person discount, maybe £70 at a guess
electricity/gas maybe £70 per month
contents insurance maybe £7 per month if you need it (the actual building will be insured already by landlord)
food, are you really sure £100 is enough, I can do that in a week!
mobile phone £15
gym?
landline phone and internet etc £10 ish.
water not much
TV licence £12 per month
Basically mate, without being harsh you don't earn enough to comfortably live by yourself. YOu could get a share in a nice flat with a young professional and share rent and bills and you will be better off, live in a better flat and get to know more people. Gumtree it and see who is on there and meet them and see what they say. You will meet their mates too and can have nights out with them, if you don't like them you can move on but it will be better than coming home to an empty house every night
so £460 plus bills plus essentials such as food is going to come up near £700 per month if not more.
now, if you want any semblance of a life and not just to exist then surely the following come into play
Eating out, minimum say £100 per month
Car shows/weekend entertainment has to be £50 per weekend
Nights out with your mates, essentialy at 23 going to be £50 per night out or maybe £30 if you really watch the pennies
No car will be awkward
Holidays with your mates - DO NOT forego these as once you hit 35 you will wish you hit them as hard as possible.
clothes - you need say £70 per month minimum on clothes etc that's as a bare minimum
all the other stuff you take for granted, deodorant, washing up liquid, aftershave, soap, polish, cloths etc etc etc!
also should you be looking at putting something away for a house deposit then there isn't much point just saving £100 per month as it will take you too long
in addition, are you thinking of starting a pension?
I'd personally say try to patch things up with your parents, but if not then consider house share as otherwise you will have NO MONEY to enjoy life and you will resent being holed up in a studio flat watching the pennies. Others will say do it, you only live once, move out and your income will increase. I, however, think that by 'only living once' the fact you live at home means more holidays, more nights out, more clothes whilst being able to save for your own place and also you can HELP your mum and dad at home which you may wish you did when they eventually die.
sky £50 can have freeview though
council tax, get 25% single person discount, maybe £70 at a guess
electricity/gas maybe £70 per month
contents insurance maybe £7 per month if you need it (the actual building will be insured already by landlord)
food, are you really sure £100 is enough, I can do that in a week!
mobile phone £15
gym?
landline phone and internet etc £10 ish.
water not much
TV licence £12 per month
Basically mate, without being harsh you don't earn enough to comfortably live by yourself. YOu could get a share in a nice flat with a young professional and share rent and bills and you will be better off, live in a better flat and get to know more people. Gumtree it and see who is on there and meet them and see what they say. You will meet their mates too and can have nights out with them, if you don't like them you can move on but it will be better than coming home to an empty house every night
so £460 plus bills plus essentials such as food is going to come up near £700 per month if not more.
now, if you want any semblance of a life and not just to exist then surely the following come into play
Eating out, minimum say £100 per month
Car shows/weekend entertainment has to be £50 per weekend
Nights out with your mates, essentialy at 23 going to be £50 per night out or maybe £30 if you really watch the pennies
No car will be awkward
Holidays with your mates - DO NOT forego these as once you hit 35 you will wish you hit them as hard as possible.
clothes - you need say £70 per month minimum on clothes etc that's as a bare minimum
all the other stuff you take for granted, deodorant, washing up liquid, aftershave, soap, polish, cloths etc etc etc!
also should you be looking at putting something away for a house deposit then there isn't much point just saving £100 per month as it will take you too long
in addition, are you thinking of starting a pension?
I'd personally say try to patch things up with your parents, but if not then consider house share as otherwise you will have NO MONEY to enjoy life and you will resent being holed up in a studio flat watching the pennies. Others will say do it, you only live once, move out and your income will increase. I, however, think that by 'only living once' the fact you live at home means more holidays, more nights out, more clothes whilst being able to save for your own place and also you can HELP your mum and dad at home which you may wish you did when they eventually die.
2 Wycked said:
I paid their mortgage off from the age of 18-22 because my Dad couldn't be arsed to work and most of the 23 year olds I know live at home.
Ringram, it is not uncommon for 30 year olds to live at home now due to the housing issue.I presume you are a little older than 30.
A lot of my friends (muslim) live at home as it is the done thing to do until you marry as you don't just abandon your family.
I'd say now the majority of 23 year olds live at home.
Either way 2wycked good for you for helping your mum out and paying the mortgage, that's what family's are about imho.
Just dyor before you take the plunge
jonah35 said:
dyor
I had to google that. Thanks though, Jonah, I think there's more of a trend for young people to move out when they can't really afford to just because they've all been to university and experienced the freedom it gives you.My Brother's now offered me his spare room which'll give me more time to find somewhere to live.
I'll try to keep this short for now as I'm at work.
You say you're a civil servant and work in Birmingham city centre. Where are you based?
Lancaster Circus?
Norfolk House?
I'm 22 myself and was forced to leave home at 19 for a number of reasons. It's been a struggle but I'm finally in a position where I'm happy.
It's not my first place, but I'm currently renting a 'studio appartment' with the OH. Rent is all inclusive at less than £500 - the only thing you have to pay for is electric which is roughly £10 a month.
Our studio is the best in the building and is a decent size. We have our own bathroom but unfortunately share the two communal kitchens with the other tenants.
Experiences of living here are fairly positive. It has its ups and downs.
I know the rough costs for most private accomodation in Brum so ask any questions you wish etc.
You say you're a civil servant and work in Birmingham city centre. Where are you based?
Lancaster Circus?
Norfolk House?
I'm 22 myself and was forced to leave home at 19 for a number of reasons. It's been a struggle but I'm finally in a position where I'm happy.
It's not my first place, but I'm currently renting a 'studio appartment' with the OH. Rent is all inclusive at less than £500 - the only thing you have to pay for is electric which is roughly £10 a month.
Our studio is the best in the building and is a decent size. We have our own bathroom but unfortunately share the two communal kitchens with the other tenants.
Experiences of living here are fairly positive. It has its ups and downs.
I know the rough costs for most private accomodation in Brum so ask any questions you wish etc.
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