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Yearly Cost Of Running A House?

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Any ideas what it is? Just for an average 3 bed semi.

With rising gas and electricity bills, tv licence and rising council tax and not even including possible IR rises things must be getting a bit tight for the average household musn't they?

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Any ideas what it is? Just for an average 3 bed semi.

With rising gas and electricity bills, tv licence and rising council tax and not even including possible IR rises things must be getting a bit tight for the average household musn't they?

Around £900-£1200 / mth would be around there somewhere .

Mines around £1100 / mth.

But this includes stowing some pennies for vets , car ( mot etc ) and a pressie fund.

D

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Any ideas what it is? Just for an average 3 bed semi.

With rising gas and electricity bills, tv licence and rising council tax and not even including possible IR rises things must be getting a bit tight for the average household musn't they?

I spent sunday morning figuring all of this out.

Household bills (excluding car, food, clothes etc) comes to £185pcm

Once I add the car it's £220pcm

So for me it's between £2220 - £2640 pa. on household expenses.

But then again I try to keep costs down where I can :P

Oh yeah rent for the flat is £420pcm - heh heh the joys of having a landlord who ain't paying off a mortgage :D

Edited by mustrum_ridcully

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It's probably going to be worse for your average renter than average homeowner.

The average 35 to 50 something homeowner probably has a far smaller mortgage payment each month than the average rent.

(Because they would have bought many years ago)

It's only the recent buyers that may start feeling the pinch alongside the tenants.

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People who have recently bought for the first time are knackered.

Imagine how difficult it would be to save for retirement if you were spending £1200 pcm on servicing a loan. Oh joy, what a life.

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The average 35 to 50 something homeowner probably has a far smaller mortgage payment each month than the average rent.

This thought has indeed occurred to me. This is another reason why high prices are going to hurt consumerism in the UK.

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I dont know what a 3 bedroom semi would be but this is what my 1 bedroom flat is. I dont have gas or central heating.

Electric - £25

TV - £10

Council tax - £110

Mobile phone - £10

Water - £20

10mbit Internet - £35

Food - £120

Home insurance - £7

£327 Per month or about 4k a year.

It all adds up in the end, and this is for a very small 1 bedroom place.

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People who have recently bought for the first time are knackered.

Imagine how difficult it would be to save for retirement if you were spending £1200 pcm on servicing a loan. Oh joy, what a life.

On the flipside

Imagine how difficult it will be renting a house when your only income is a dodgy pension.

I wonder how many old people are in this position now living in a cramped squalid 1 bed flat paid for by the state. In constant fear of petty crime each time they venture into the piss stained lifts on their way to collect their pension.

Oh joy, what a life

Indeed.

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As I'm in charge of the bills at our gaff I can reveal that our bills expenditure runs to around £480 pcm, or £5760 per year. This includes:

Gas (£30pcm)

Electricity (£30pcm)

Water (£40pcm)

Contents Insurance (£16pcm)

TV Licence (£11pcm)

Council Tax (£160pcm) (Band E - ouch!)

BT Phone (£20-ish pcm)

Cable TV + Phone (around £55pcm)

BT Broadband (£30pcm)

and, most importantly of all for lazy buggers like me, a cleaner! (£84pcm)

I should point out that the above is for three single blokes living three pretty separate lifestyles, so one could argue that our consumption is quite high (though the same could be said of the average family I guess).

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£2k for council tax and bills sounds about right as an average.

BUT - nobody seems to be talking about repairs and maintenance. How much do property owners spend on this, averaged out? As of course tenants don't pay this...and yes, try racking up the rents. No shortage of competitively-priced rentals where I live.

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£2k for council tax and bills sounds about right as an average.

BUT - nobody seems to be talking about repairs and maintenance. How much do property owners spend on this, averaged out? As of course tenants don't pay this...and yes, try racking up the rents. No shortage of competitively-priced rentals where I live.

Does the average OO have a budget for this?

Ones I know are saving for specifics like new bathrooms, carpets or kitchens. If the roof developed a leak or the boiler went they'd be buggered.

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I wonder how many old people are in this position now living in a cramped squalid 1 bed flat paid for by the state. In constant fear of petty crime each time they venture into the piss stained lifts on their way to collect their pension.

The sad reality about modern Britain is that even if you have the nice big house, then fall ill due to old age and have no one to care for you - apparently, most children do a runner at this point - the State steps in, shoves you into one of these cramped flats, sells off your home and claims it as the cost of looking after you until you die.

There is a great variation across the country dependent upon the policy of your local Council and NHS Trust but that, more or less, is what happens.

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My wife and I did the calculation recently, and found that a comfortable life costs 1000 pounds a month (I live in the South East). This includes 2 cars, Sky, broadband, petrol, insurances, food etc... but excludes a mortgage, holidays, and other non-essential expenses.

I'm sure this will be 2-3 times that when/if we retire in 30 years - it is a very sobering thought!

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My wife and I did the calculation recently, and found that a comfortable life costs 1000 pounds a month (I live in the South East). This includes 2 cars, Sky, broadband, petrol, insurances, food etc... but excludes a mortgage, holidays, and other non-essential expenses.

I'm sure this will be 2-3 times that when/if we retire in 30 years - it is a very sobering thought!

You class 2 cars, sky and broadband as necessities?

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You class 2 cars, sky and broadband as necessities?

Haha - yes.. well, if we were retired, we could probably do with just the one car, and get rid of sky for freeview (it is mainly for the kids who like Discovery, and some of the cartoon channels). Broadband is a necessity - couldn't live without it.

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Any ideas what it is? Just for an average 3 bed semi.

With rising gas and electricity bills, tv licence and rising council tax and not even including possible IR rises things must be getting a bit tight for the average household musn't they?

I heard/read somewhere (some time ago and i can't remember where or the details tho), that annual running costs of a property averaged about 2% of the property price, ie £200k house would cost £4k/year to furnish/insure/decorate/extend... this doesn't include any fuel bills/council tax as far as I remember.

It sound a lot, but you have to take into account things you have to save a bit towards each year, yet replace/do every 10-20 years, such as replacing kitchens/bathrooms/adding an extension etc.

http://www.uknetguide.co.uk/Finance/Articl...oon_add_up.html has some more figures, but don't believe the figures (the annual costs BTW are caculated over 60 years)... £210k for land line phone bills... £3,500 a year? £875 a quarter? Thats 10 times more than I pay!

Some more stats here: http://www.findaproperty.com/story.aspx?storyid=5596

Which works out as;

Mortgage interest payments = 30% the cost of owning and running a home (not if your a FTB now!)

Council tax = 14%

Power bills = 12%

Maintenance = 8%

Telephone costs = 6%

Water = 5%

Goods and services = 5%

Household insurance = 5%

Appliances = 4%

Tools =3%

Toiletries = 3% (WTF?)

Edited by beerhunter

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I heard/read somewhere (some time ago and i can't remember where or the details tho), that annual running costs of a property averaged about 2% of the property price, ie £200k house would cost £4k/year to furnish/insure/decorate/extend... this doesn't include any fuel bills/council tax as far as I remember.

It sound a lot, but you have to take into account things you have to save a bit towards each year, yet replace/do every 10-20 years, such as replacing kitchens/bathrooms/adding an extension etc.

http://www.uknetguide.co.uk/Finance/Articl...oon_add_up.html has some more figures, but don't believe the figures (the annual costs BTW are caculated over 60 years)... £210k for land line phone bills... £3,500 a year? £875 a quarter? Thats 10 times more than I pay!

Some more stats here: http://www.findaproperty.com/story.aspx?storyid=5596

Which works out as;

Mortgage interest payments = 30% the cost of owning and running a home (not if your a FTB now!)

Council tax = 14%

Power bills = 12%

Maintenance = 8%

Telephone costs = 6%

Water = 5%

Goods and services = 5%

Household insurance = 5%

Appliances = 4%

Tools =3%

Toiletries = 3% (WTF?)

Thanks for that.

Can't see the percentages for mortgage, powerbills and council tax still being that low.

Dont worry about him... I've got plenty of entertainment lined up for you. :P:P:P;)

:lol::lol:;)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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