Discover the Average Cost of Household Bills in the UK
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Living costs in the UK can be daunting, and one of the biggest expenses for residents is paying household bills. To help you budget better and prepare for your new home, it's important to understand what to expect from these bills. While there is no one-size-fits-all answer, this blog post aims to provide you with a comprehensive guide to the typical household bills in the UK.
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Mortgage and Rent: The Biggest Expenses
For most people, the largest monthly outgoing is either mortgage repayments or rent. Mortgages involve borrowing a certain amount from a lender to buy a home, while renting means paying a monthly fee to a landlord. These costs can vary greatly depending on factors like house price and interest rates.
Gas and Electricity: Essential Bills
Electricity and gas bills are unavoidable necessities in UK homes. From heating and lighting to cooking and running appliances, these costs add up. As of 2023, the average bill for a 1-2 person household is £142 per month this has increased from £104.50 per monthin 2019. However, individual usage, location, and choice of energy provider can all have an impact on the final cost.
Council Tax: A Fixed Cost
Council tax is a fixed cost determined by factors like property value, local council, number of adults in the home, and benefits received. In 2021, the national average council tax bill in England was £1,898 per year, or £158.17 per month. The average for the most popular property banding has now risen to £2,000 per year or £167 per month.
Water Bills: Based on Location
Unlike energy bills, water bills are fixed based on location and property value. These bills are calculated using a fixed rate fee and water usage. The average monthly payment for water bills in the UK is £34.
Broadband and TV Packages: Modern Necessities
Good internet speed is essential for most households, and the average cost of broadband in the UK is around £30 per month. TV subscription packages range from £20 to £50 per month, depending on the services and channels you choose. It's worth noting that these services can be obtained separately if bundling is not of interest.
Home Insurance: Financial Protection
To financially protect your home, it's important to have both buildings and contents insurance. On average, this costs £12 per month in the UK.
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