Working out the cost of running a Home PDF Print E-mail

If you already have a place of your own you will know the costs of running a home. If you are applying for your own property for the first time however, this guide gives you an idea of how much it may cost you each week. You need to bear in mind that you can afford these costs when accept any offer we may make you. Compare your income to the costs below to see if you can afford it. Additional support can be provided if requested.

If you are offered a property with a social landlord, for instance Your Homes  Newcastle, we can tell you if you will get help with your rent by claiming housing benefit and help with Council Tax before you take on the tenancy. You can check this for yourself on www.entiltedto.turn2us.co.uk.  Alternatively, customers without internet access can ring Newcastle City Council Housing and Council Tax Benefits team on 0845 111 4101 for an over the phone welfare benefit calculation.

Housing Benefit for private tenants has changed. The Government now pays Local Housing Allowance. You can ring 0845 111 4101 for more information.

Below you will find some guidelines on the cost of essential items. These may vary depending on the size of your family and property type plus other factors, such as gas, electric, water, food and clothing. These figures are taken from various government sources but can vary depending on your personal circumstances.

Use the personal planner on the back of this guide to give you an idea how much you will need to budget if you get your own property

Utility Charges – gas and electric

The following typical estimated standard Dual Fuel costs per supplier / payment method were obtained from the website Consumer Focus. The monthly estimate is based on a medium user. A medium user is someone who will generally pay £38 to £58 per month or £450 to £700 per year for fuel. More information on energy bills including costs per supplier, payment method and consumption can be found on: http://www.consumerfocus.org.uk and searching under “energy supplier price comparison factsheet” Bills will be higher in the winter than during the summer months. You may also be able to reduce the costs by paying by Direct Debit. Costs will undoubtedly increase if you have pre-payment meter.

 

Company Name

Tariff Name

Monthly Direct Debt

Cash or Cheque

Prepayment

British Gas

Standard Dual Fuel

£89

£95

£95

E.ON Energy

Standard Dual Fuel

£90

£98

£98

EDF Energy

Standard Dual Fuel

£89

£95

£95

npower

Standard Dual Fuel

£92

£100

£100

Scottish and Southern Energy

Standard Dual Fuel

£90

£94

£94

ScottishPower

Standard Dual Fuel

£91

£109

£97

Water Charges

This charge may be included in your rent and will be discussed during the tenancy sign up process. The charge will vary depending on whether your home has a water meter or not. According to Northumbrian Water a typical water bill is assessed on the rateable value. The figures provided are only a guide, but the correct information is available on the Northumbrian Water website providing you can supply your address and postcode.

  • Rateable value 137 £238 per annum ( £4.58 per week)
  • Rateable value 222 £358 per annum ( £6.89 per week)
  • Rateable Value 288 £416 per annum ( £8.00 per week)
  • You may benefit from having a water meter if for example you are a single person in a 2 bed property.  Please contact Northumbrian Water on 0845 7171100 for further information or visit their website www.nwl.co.uk . Some typical bills for households with a meter and average use

Single person- £164 per year (£3.15 per week)

Two person Household- £226 per year. (£4.35 per week)

Three person Household- £288 per year. (£5.54 per week)

Four Person Household- £320 per year. (£6.15 per week)

Food and Housekeeping

The Office of National Statistics has highlighted the following typical average costs;

£44 per week for each Adult for food and other household items.

£27 per week for each child for food and other household items.

£13 per week for clothing adult.

£8-12 per week for clothing per child (depending on the age of the child)

 

Please use attached Personal Planner

Personal Planner- Income

Income Source

Weekly Amount

Notes

Your wages

£

 

Your partner’s wages

£

 

Company pension

£

 

Income Support

£

 

Job Seekers Allowance

£

 

Employment Support Allowance

£

 

Child Benefit

£

 

Working Tax Credit

£

 

Child Tax Credit

£

 

Pension Credit

£

 

Bereavement benefit

£

 

Carers’ allowance

£

 

Other state benefits

£

 

Child Maintenance

£

 

Income from Non Dependants

(A non dependant is: Another adult aged 18 or over, who lives in the house with the tenant & tenant’s family. For example a grown up son or daughter)

£

 

Housing Benefit

£

 

Council Tax Benefit

£

 

Student loan/grant

£

 

Total income (Box 1)

£

 

Personal Planner- Expenditure

Essential Items

Weekly Amount

Notes

Rent

£

 

Secured Loans

 

 

Council Tax

£

 

Gas

£

 

Electric

£

 

Other Fuel (coal, oil, calor gas)

 

 

Water

£

 

Magistrate Fines

£

 

Childcare Costs

 

 

Maintenance Payments

£

 

Food/Housekeeping

£

 

Clothes

£

 

T.V Licence

£

£142.50 per year

House Insurance

£

We provide low cost insurance for our tenants. Ring 0845 800 3 800 for a quote and application form

Other Insurances(buildings, life etc)

£

 

Other items

 

 

County Court Judgments

£

 

Landline

£

 

Mobile phone

£

 

Cable/satellite television

£

 

Internet

£

 

Petrol/Bus fares

£

 

Other car expense(Road Tax-maintenance)

£

 

Pet Expenditure

£

 

Subscriptions ( Hobbies etc)

£

 

Lottery

£

 

Social Costs

£

 

Prescriptions

£

 

Catalogues

£

 

Hire Purchase

£

 

Credit cards

£

 

Loans – Unsecured

£

 

Other regular outgoing

£

 

Total Weekly Costs (Box 2)

£

 



Total Income Box 1

Take away

Total Weekly Costs (Box 2)

Equals

Money Available

 

-

 

=

 

 
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