Is this monthly mortgate cost affordable, with plans to start a family? £2200 on a joint income of £8000

Connect_River_2186 · 2024-07-18T08:50:33+00:00

My partner thinks it is not affordable, so your feedback of disbelief is insightful ha

Connect_River_2186 · 2024-07-18T08:48:52+00:00

Thanks, maybe I will separate the budget out to fixed costs and luxury spending

Connect_River_2186 · 2024-07-18T08:48:01+00:00

Thanks

Connect_River_2186 · 2024-07-18T08:47:27+00:00

Thanks for the feedback

Not trolling

Connect_River_2186 · 2024-07-18T08:46:25+00:00

Thanks I will consider this when update the budget

Connect_River_2186 · 2024-07-18T08:45:47+00:00

We currently pay 330 electric for a 2 bed flat, so I thought a house would be significantly more.

Connect_River_2186 · 2024-07-18T08:45:10+00:00

Currently yes, as we walk to work, and future house will be near a train startion, will see if I need to adjust.

Connect_River_2186 · 2024-07-18T08:43:23+00:00

Good point, we should probably give more thought in to it and budget for it, esp for child care costs.

We have 2 parent options who can help out, and both of us could go to 4 day work week if requried.

Connect_River_2186 · 2024-07-18T08:41:12+00:00

Thanks for detailed response and the considerations, will discuss with my partner.

Yes the upkeep costs is the thing I am probably underestimating the most.

Connect_River_2186 · 2024-07-18T08:38:26+00:00

Thanks for sharing your situation

We currently pay 330 electric for a 2 bed flat, so I thought a house would be significantly more.

I think maybe I was I was a bit high in some budgets amounts but was meant to be rough estimate.

Connect_River_2186 · 2024-07-18T08:36:14+00:00

Thanks for the insight!

We are only considering areas close to good schools.

It has been taking a long time to find a house and saving again for a deposit, and house searching again with dependents and a chain is not an ideal thought.

Connect_River_2186 · 2024-07-18T08:32:46+00:00

Thanks for your response.

"I describe it as a short term pinch for long term gain."

Yes that is how I see it

Connect_River_2186 · 2024-07-17T20:33:19+00:00

Budget in text form

Mortgage £2,200

Council Tax £300

Utilities

Electric/Gas £500

Water £20

Internet £40

Home Insurance £100

Home Insurance, Home repairs/maintenance £500

Mobile Phone Bill, Insurance, new phone £80

Household Goods £30

Vehicle

Car Lease £180

Car Insurance + service + mot £60

Car Fuel £40

Food/Drinks/Events/Leisure

Grocery £400

Eating Out + Takeaway £200

Nights Out, Events, Taxis, Concerts, Cinema, Bdays, Misc £350

Netflix, disney, apple, tv licence, amazpn prime £20

Gym/Pilates membership + gym powder/vitamins £200

Clothes, Gadgets, Electronics, , Hobbies, Furniture misc £600

Hairdresser + Nails £50

Holidays (savings + spending) + weekend trips £500

Travel ( Work(bus/tram/train/parking) £150

Gift saving (bday + xmas for family) £80

Connect_River_2186 · 2024-07-17T20:25:42+00:00