Thinking of buying A House

godtabh

I've got approval for a home loan so I'm looking around to see what I can afford but still be able have a decent standard of living.

So I'm trying to come up with a budget.

What I'm aiming for is a one bedroom apartment.

So what I'm basically trying to do is figure out the running costs so I can see what I can and can’t afford realistically.


So I was wondering would people be able to give me an estimate for the following items:

Food
TV
Elec
Gas
Phone
Broadband
House insurance

I've also taken into account other things like travel, going out, weekly spending money and stuff like that but if any one can think of any other stuff please let me know.

Thanks in advance!

skye

Rough guide for 2 of us is:

Food - E100 per week
TV - E57 per month ( sky )
Elec - E100 - 150 per bill
Gas - E130 per bill
Phone & BB - E130 - 150 every 2 months
Insurance - can't think of top of my head...not that much

Do you drive? Think of that.
Waste charges

Beruthiel

another one to add to that list skye is the maintenance, that will vary depending on where you get your apt.

godtabh

skye wrote:

Rough guide for 2 of us is:

Food - E100 per week
TV - E57 per month ( sky )
Elec - E100 - 150 per bill
Gas - E130 per bill
Phone & BB - E130 - 150 every 2 months
Insurance - can't think of top of my head...not that much

Do you drive? Think of that.
Waste charges

Thanks for that.

Yeah I drive so I've a figure for that (petrol and insurance).

Waster charges are €6per bin so I can factor that.

Thats for 2 people so I cold maybe put use half of that

lomb

utilities inc elec, gas if there will be any in an apartment, cable or basic sky tv, and telephone/internet, will be circa 2 grand. factor another 1200 for service charges on your apartment. also factor 500 for bus fares or luas, or about 3-4 grand minimum to run a second hand car inclusive of fuel, insurance tax and depreciation/finance.
food is about 1000 a year approx.
a basica rule is u can apportion 50% of take home income to your home. however this is complicated by increasing your income by renting a room, or reducing your lifestyle.
my personal advice is buy the best u can afford , try buying a freehold house in preference to an apartment, u at least then own something, and there will be no service charges. property always goes up in value over time, borrow as much as u can afford to, and cut back for a few years if u need to. around 90% of the wealth of an average person is probably their home and any other investment prooerty they own. that says alot tbh.

skye

Glad to help...I always try to add a little extra onto what I think bills will be so then if it's less I have extra dosh for my money pot!!

godtabh

Management Fees
Car Insurance
Tax
Insurance House
Food
Bills
(TV
Elec
Gas
Phone
Broadband)
Car
Going Out
Travel
Weekly Spend
Savings

These are the items I'm trying to budget for. Do I have most things covered there?

I have figures for some but not all so any helo would be welcome.

LegacyUser

Food =100 per month
TV - License 15 per month, NTL digital 60 euro for 2 months
Elec - @ 50 euro a month
Gas - nothing. Oil 350 a year.
Phone - ehhh like 80 a month
Broadband - IBB 48 per month
House insurance - 25 per month

Don't forget about mortgage protection and life insurance. Also, make sure you have some money on the side for stupid things like "fridge breaks down", "Replace cat tyre". I get @ 150 unanticipated bill each month.

godtabh

bubby wrote:

Don't forget about mortgage protection and life insurance.

Also, make sure you have some money on the side for stupid things like "fridge breaks down", "Replace cat tyre". I get @ 150 unanticipated bill each month.

How much would the mortgage protection and life insurance be? Where would the best place be to go?

Luckly enough my Dad is handy with most diy/car/elec problems so hopefully in that respect I wont have anything to worry about!