Some of you might have seen other posts from me about buying my own flat soon, and I keep checking different things.......this weeks random thing of mine is cost of things etc, can anyone think of anything else to add (also, I think the £ is about right):
Mortgage £600 (max)
Council Tax £70
Mobile Phone £30
Car repayments £180
Bills (gas, electric, water) £80
TV License £10
Diesel for car £40
Insurances (house, life,job) £40
Maintenance (as its a flat) £30
Pension £60
Food £120
Sky TV £20
ISA £60
Car Insurance £50
Income Protection?
You will need that to cover your mortgage. You pay about 3% on what you need. ie £30 a month if you need £1000
Your Maintainance/Service charge seems high.. £30
Must be a nice flat for £100k going by the £600 repayment mortgage youve set aside.
landline/internet - £35
car insurance/tax?
the insurance on the house might be quite abit more depending on what you get. building/contents/income protection/illness protection etc
i think mine comes to 60ish for all of it.
whats the council tax band? mine is B (one of the lowest) and is £80odd
think you got the main things on your list already (plus the car insurance ^).
the water,gas, electric looks a bit on the light side though (£20 each a month), i pay double the amount you got down for them on mine
another thing maybe worth a thought, you *may* be better overpaying your mortgage by £50 instead of putting it into a pension? unless your company is going to match it etc. by the time the mortgage interest is compounded it mike make more off a dent than a pension these days.
I used to allow £50 a month for a slush fund when i first set out in my own place as many bills fluctuate a bit, plus it gives you a little bit of slack for a leaking roof or wallpaper every month or so
my coucil tax is band B also and is £127 a month :cry:
the other thing i was going to mention was that as the council tax is normally paid over 10 months not 12 you may need more than you budgeted for. ie: our council tax is £1270 / 10 months = £127 not £1270 / 12 = £105.83
but you can change that and pay over 12 months if you ask.
your forgetting the porn budget.
Quote from: redyour forgetting the porn budget.
thats included in internet :lol:
The place I am wanting isnt overly good/modern, its just a normal price for a flat where I live. The maintenance is high IMO, but thats what I was told when looking at the flat.
Forgot about income protection actually! Deffo need that.
Also, my pension.........I will be putting £60.23 a month, not £50 (i worked it out properly today).....then my company put 7% of my monthly wage towards it as well. Which I think is pretty good?!
DEViANCE, think im going to have to miss out on a phone line and internet for a while........probably wont get sky to start with either, as TBH, I think im going to struggle!!
Council tax is deffo £70/month. Which is for a single person as well.
Think its going to cost a bit more than I thought actually. Should still manage though.
Although, the flat I wanted has gone now :cry: :cry: :cry: :cry: :cry: :cry: :cry: :cry: :cry: :cry: :cry: :cry: So will have to keep looking.
Updated 1st post now, so any other comments welcome :)
Good news as well. Yesterday evening the buyers pulled out, so I put an offer of £99,000 in and it got rejected. The sellers said £100,000 with furniture. But I said I want to buy most of it new anyway so dont want anything, so £99,000 again without any furniture. So the came back and accpeted my offer..........only on the condition I HAVE the furniture! They dont want it as the live miles away (this flat is a holiday home for them). Quite cheeky of em trying to sell it for more with furniture! But Ill use the washing machine etc, but most of it will get binned. :D :D :D :D :D :D :D :D :D :D :D :D :D :D
Excellent, congratulations. You did well sticking to your guns on the offer too :D
Instead of binning the furniture keep it & only buy new when you need to - keep the money in a spare account for a few months incase of any early emergencies or as a buffer when you get used to your new budget.
Yeah, there will be some stuff I keep to be honest! But things like their old bed/matress I dont fancy :lol: But they have a coffee table, washing machine, fridge etc which Ill deffo be keeping.
Ill need to buy bedroom cupboards and draws etc Ive already got a microwave, kettle, toaster etc so thats somethings less to buy. Will just go to ikea i think , as thats cheap as chips.......Need two new carpets as well, but the rooms arent too big so that shouldnt be too bad.
Good thinking as well Egg, Ill try and have around £1000 as back up I think, and spend maybe around £2000 on bits. Wouldnt mind a nice LCD TV as well.........although that might wait! :lol:
Quote from: chrisdickoMortgage £600 (max)
surely that has halved now?
Why? What do you mean?
Quote from: DaveQuote from: chrisdickoMortgage £600 (max)
surely that has halved now?
£300 for £100k??? Can you give me a mortgage please?
I was told by the mortgage adviser when I saw him months ago to work on the worst/highest figure of £600/month on £100k for a 100% mortgage........
I didnt realize you were going for 100% - thought 70% was about norm?
i.e. borrowing 70k at say 6% would be 4200 per year or 350 per month
i just totted up the items on your first post and your up to £1390 after tax mate.
thats a lot of cash for a first timer unless you got a bird your getting to pay in?
Quote from: DaveI didnt realize you were going for 100% - thought 70% was about norm?
i.e. borrowing 70k at say 6% would be 4200 per year or 350 per month
95% is the norm these days isnt it?
I dunno - if it is then Id be a bit worried as that is a lot of leverage to give ordinary people
Quote from: chrisdickoIll need to buy bedroom cupboards and draws etc Ive already got a microwave, kettle, toaster etc so thats somethings less to buy. Will just go to ikea i think , as thats cheap as chips.......Need two new carpets as well, but the rooms arent too big so that shouldnt be too bad.
Good thinking as well Egg, Ill try and have around £1000 as back up I think, and spend maybe around £2000 on bits. Wouldnt mind a nice LCD TV as well.........although that might wait! :lol:
Have a look on Ebay. I bought a Suite of kingsize bed, 2x bedside table/draw, small chest of draws, large chest of draws & a Mirror for £180 brand new.
keep an eye open.. how about somthing like that :-
http://cgi.ebay.co.uk/Brand-New-FULL-BEDROOM-SUITE-in-Maple-5-Elements_W0QQitemZ120138542069QQihZ002QQcategoryZ20480QQrdZ1QQcmdZViewItem
Quote from: EggtasticoQuote from: DaveI didnt realize you were going for 100% - thought 70% was about norm?
i.e. borrowing 70k at say 6% would be 4200 per year or 350 per month
95% is the norm these days isnt it?
For first time buyers it is.
Dont bother with payment protection. Its a scam. Theres loads of clauses to get out of paying, and unless you think youll be out of work for a year whats the point ? If the worst comes to the worst you can just sell the property.
Quote from: EggtasticoQuote from: chrisdickoIll need to buy bedroom cupboards and draws etc Ive already got a microwave, kettle, toaster etc so thats somethings less to buy. Will just go to ikea i think , as thats cheap as chips.......Need two new carpets as well, but the rooms arent too big so that shouldnt be too bad.
Good thinking as well Egg, Ill try and have around £1000 as back up I think, and spend maybe around £2000 on bits. Wouldnt mind a nice LCD TV as well.........although that might wait! :lol:
Have a look on Ebay. I bought a Suite of kingsize bed, 2x bedside table/draw, small chest of draws, large chest of draws & a Mirror for £180 brand new.
keep an eye open.. how about somthing like that :-
http://cgi.ebay.co.uk/Brand-New-FULL-BEDROOM-SUITE-in-Maple-5-Elements_W0QQitemZ120138542069QQihZ002QQcategoryZ20480QQrdZ1QQcmdZViewItem
there is a reason why its that cheap. jesus god thats disgusting.
Quote from: crazylegsi just totted up the items on your first post and your up to £1390 after tax mate.
thats a lot of cash for a first timer unless you got a bird your getting to pay in?
Yeah, its going to be a lot!!! :( Have a bird, but she isnt moving in or anything. Just going to have to tighten up a lot TBH, and not go out drinking as much.......or maybe even ever again :lol:
Will check out ebay, cheers Egg. Didnt think of there for furniture etc. At work now so cant check your link until im home.
Sam, is payment protection really that bad?? I thought it would be worth paying for?!
its probably worth saving the money instead of blowing it on payment protection.
Yeah, see what you mean now really!
Quote from: chrisdickoSam, is payment protection really that bad?? I thought it would be worth paying for?!
They only pay out for a max of a year or 2 years and they wont pay out instantly, its only after, for example, 6 months of unemployment.
Its the biggest rip off going, just forget about it.
just to depress you im going to tot up how much its costing me to live in france.
salarie - 12 900 euros (minimum wage) (around 1000 euros pm)
rent pm - 560 euros / 2 = 280 euros
food pm around 250 euros
bills pm around 40 euros
the beer is minimum 7% and its 2 euros a pint :D
2.00 EUR=1.35245 GBP. however buying sh*t its proving to be tricky atm. im after a laney vc30 212 amp an its going to be around 600 euros if i buy it in england new.
Quote from: SamQuote from: chrisdickoSam, is payment protection really that bad?? I thought it would be worth paying for?!
They only pay out for a max of a year or 2 years and they wont pay out instantly, its only after, for example, 6 months of unemployment.
Its the biggest rip off going, just forget about it.
There have been an awful lot of people who have been unhappy about it when they lost their jobs but the plan didnt pay out. Like extended warranties from the likes of Dixons its usually just a way to scam you out of more money. As others suggest, if you have extra money stuff it into a bank account just in case you need it. Then you will build up a barrier gradually and later on you can use part of it to pay off some of the mortgage.
Those with mortgages might want to recalculate as the interest rate has gone up again a quarter of a percent again.
Quote from: redjust to depress you im going to tot up how much its costing me to live in france.
salarie - 12 900 euros (minimum wage) (around 1000 euros pm)
And Im living on less than £4k a year ATM...
OK I dont pay rent/council tax but then again I half own the house.
Quote from: EggtasticoQuote from: chrisdickoIll need to buy bedroom cupboards and draws etc Ive already got a microwave, kettle, toaster etc so thats somethings less to buy. Will just go to ikea i think , as thats cheap as chips.......Need two new carpets as well, but the rooms arent too big so that shouldnt be too bad.
Good thinking as well Egg, Ill try and have around £1000 as back up I think, and spend maybe around £2000 on bits. Wouldnt mind a nice LCD TV as well.........although that might wait! :lol:
Have a look on Ebay. I bought a Suite of kingsize bed, 2x bedside table/draw, small chest of draws, large chest of draws & a Mirror for £180 brand new.
keep an eye open.. how about somthing like that :-
http://cgi.ebay.co.uk/Brand-New-FULL-BEDROOM-SUITE-in-Maple-5-Elements_W0QQitemZ120138542069QQihZ002QQcategoryZ20480QQrdZ1QQcmdZViewItem
Cheers for the link!! I quite like that set-up really!! Shame the P+P is so much. Wouldnt have thought to look on ebay for bedroom stuff!
Quote from: redjust to depress you im going to tot up how much its costing me to live in france.
salarie - 12 900 euros (minimum wage)
depress moi?
non monsieur
:lol:
Im moving to bristol come August on a wage of around £1300 pm after tax/nat ins/student loan contribs.
Looking for a 1 bed flat around the £500 range. Reckon I have enough left over for bills? or should I aim a little lower perhaps?
Id consider buying, but its a graduate job and I dont want to end up paying for a house when I may end up stuck on a client site in Scotland for 2 years. Rather have a short term rental agreement and settle first, then look for houses.
Doesnt seem to be a budget for recreational pursuits, social activities, or potential trips/holidays?
Unless means buying a house means an end to all that...?
Quote from: M3ta7h3adIm moving to bristol come August on a wage of around £1300 pm after tax/nat ins/student loan contribs.
Looking for a 1 bed flat around the £500 range. Reckon I have enough left over for bills? or should I aim a little lower perhaps?
Id consider buying, but its a graduate job and I dont want to end up paying for a house when I may end up stuck on a client site in Scotland for 2 years. Rather have a short term rental agreement and settle first, then look for houses.
Why do you need your own flat, Better off with a share and a few extra quid in your pocket unless theres more than one of you moving into a flat.
You kids got it easy.. my outgoings are £1300 just on mortgage, loan, CC, mobile phone, water, council tax, insurance & internet.. theyre my essentials.
Then I have gas, eleccy & food on top + your other usual crap. Whats left funds my alcohol habbit.
Quote from: BigSoyQuote from: M3ta7h3adIm moving to bristol come August on a wage of around £1300 pm after tax/nat ins/student loan contribs.
Looking for a 1 bed flat around the £500 range. Reckon I have enough left over for bills? or should I aim a little lower perhaps?
Id consider buying, but its a graduate job and I dont want to end up paying for a house when I may end up stuck on a client site in Scotland for 2 years. Rather have a short term rental agreement and settle first, then look for houses.
Why do you need your own flat, Better off with a share and a few extra quid in your pocket unless theres more than one of you moving into a flat.
Want my own space. Spent this last year in a house share, and while it was good... just want to live somewhere I can call "ahh my own". There is only 1 other person from Logica starting in bristol like me, and I think hes of the same opinion.
Ive worked out my out going per month will be around £1300, which inc everything (ive probably missed something though), and I should have around £50 a week spare to piss up the wall really.