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Moving out

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
Hi all.

I'm looking into moving out of where I'm living at the moment and getting my own flat. I've been trying to work out all the costs, outgoings, etc, but I think I've just confused myself in the process! :blush:

Most of the flats near where I live are between £450-500 a month, excluding bills. I take home about £1300 a month, and at the moment my main outgoings are just a small amount of rent and keeping my car on the road/fuel to get to work. I'm trying to work out whether I could realistically afford to have my own place. I have a savings account to save up as quick as I can for furniture, etc.

It's just all the utilities that are confusing me. How much can I expect (approximately) to be paying out per month for a flat? I know it'll be different in each situation but a ball-park figure would help me work out whether it's worth taking the plunge. I just want to be careful and not get somewhere I'm gonna end up struggling with a few months down the line.

Any experiences?

Thanks all.

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    In having your own flat, are you intending to buy or continue to rent? If you are intending to buy, I believe you will need at least 10% deposit. Bear in mind that the housing market hasn't bottomed out yet so if you have saved for a deposit by now, you would be in a strong position to make a bid.

    Calculate your present outgoing expenditure. Have you been paying utilites by direct debit? I don't know the average electricity/gas bills as I haven't been living in the UK long enough. I suggest you aska neighbour or someone close to you for this.

    Assuming you're going to be renting, remember when you do get a flat how much community charge you will have to pay. Ask the local council what property band the flat's in. And will you be wanting 2 bedrooms or just the one?

    If you have an old car consider that by next April, if it is 7 years old or more you will have to pay excess tax on it. I believe this tax will be environment tax but I could be wrong.

    Bear in mind petrol will always increase in cost, that your car will need MOT'ing possibly... I am sorry for painting a bleak picture.

    Poppi
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Council tax £100+
    Water £30
    Electric £30-40
    Gas £30
    Contents insurance £10
    Tv licence - Look it up i forget
    Food
    Petrol
    Car insurance

    Thats stuff off the top of my head
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Tweety wrote: »
    Council tax £100+
    Water £30
    Electric £30-40
    Gas £30
    Contents insurance £10
    Tv licence - Look it up i forget
    Food
    Petrol
    Car insurance

    Thats stuff off the top of my head

    TV Licence is about £130 a year I think?
    Internet £15-£40 a month
    Also stuff for the house really adds up - toilet roll, bathroom cleaner etc, and replacing broken/worn out things - there always seems to be something new to buy!
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Are you thinking of buying or renting? Because with buying you will normally have to take out a life insurance policy, our joint one is £70 a month and you will need buildings aswell as contents insurance but ours is only £10 for both a month anyway. Apart from that this is what we usually spend monthly:

    Mortgage: near enough £690
    Water bill: £30
    Gas and electric combined: £40
    Virgin phone line and broadband: £15 and then extra for any calls.
    Sky: £18
    Council tax: £120
    Tv Licence: £12 i think.
    Shopping including all naff stuff like cleaning products: about £220 for 2 of us.
    Car insurances: £75 for 2 lots.
    Petrol for 2 cars: £120

    And then i guess any money left gets spent on meals out, takeaways, the pub and clothes and stuff. Some months are easier than others for free cash.
    The big expense when you first move out is getting all your furniture and stuff which can be expensive if you have to buy everythinbg like cookers, freezers fridges washing machines etc - including all that and then sofa's tv's beds wardrobes etc we spent about £3000 which i thought was pretty good - but that was all new and if you just need stuff to get you buy second hand stuff can be loads cheaper.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Sorry, I meant to say but forgot. I'm looking at renting for now, most places around here are £450 - £500 a month rent. Will do some more figures and see what I can work out!
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