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  

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.                            

Excellent, congratulations. You did well sticking to your guns on the offer too  

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    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!

Quote from: chrisdickoMortgage £600 (max)

surely that has halved now?

Why? What do you mean?

Quote from: Dave

Quote from: chrisdickoMortgage £600 (max)

surely that has halved now?

£300 for £100k??? Can you give me a mortgage please?