Buying or renting a property

Regular expenditure for renting a home will vary considerably - the following items must be budgeted for:

1. Rent, and possibly council tax.
2. Heating and lighting.
3. Service charge or repairs and maintenance costs.
4. Travel costs to and from work.
5. TV licence
6. Any other regular expenses e.g. phone, broadband etc.

If you have purchased a property a typical breakdown of ongoing costs may include:

1. Mortgage repayments
2. Heating and lighting
3. Repairs and maintenance costs
4. Private roads where applicable
5. Travel costs to and from work.
6. Regular bills such as telephone, TV & broadband
7. Life and home insurance premiums.
8. Council tax
9. Water & Drainage rates
10. Ground rent and service charges if the property is leasehold.