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The average household water and sewerage bill is £415 in England and Wales for 2019-20, or £34.58 a month, according to Water UK.īut water rates vary and will depend on where you live, and the availability of water in your area.

Find out more: how you can save on your energy bill in your new home.

After you've moved in, it’s important you keep an eye on how much your energy bill is costing you - and switch if you’re paying too much. Your energy bill should, in theory, rise with inflation but a number of suppliers increase charges at a much faster rate. This will help you see how energy-efficient the building is and give an indication of how much your bills might be. When you’re viewing properties they’ll all have an energy performance certificate. Most energy companies will offer several payment options - you can choose to pay monthly, every three months, or once a year. Your gas and electric bill covers the cost of powering your home and keeping it warm.

Utility bills and tax Gas and electricity

Find out more: leasehold properties - what you need to know before buying one.Make sure your property solicitor looks over the lease very carefully before you buy a leasehold property, as some can contain punitive clauses and spiralling ground rents. Ground rent in England and Wales is traditionally a token fee paid to the freeholder, in exchange for renting the land the property sits on. Most freeholders appoint managing agents to look after communal areas, so these fees may be combined into one payment. Service charges cover the management and maintenance of the building's communal areas, and tend to cost between £100 and £200 a month (but this can vary.) If you're buying a leasehold flat, you'll have to factor in monthly or quarterly service charges and ground rent.

Find out more: how does contents insurance work?.You can buy contents cover with your buildings insurance policy (this is referred to as home insurance) but you can buy them separately if you like. Find out more: the different types of buildings insuranceĬontents insurance covers the cost of replacing your belongings in your home if they're damaged, destroyed or stolen. It's not compulsory, but it's recommended.If you're buying a property with a mortgage, buildings insurance isn't an optional extra, but a must-have. Mortgage lenders require you to have a policy in place from the date you exchange contracts, in order to give you a home loan.Īn exception is if you're buying a leasehold property, in which case insurance should usually be included in your service charge (which you can read about below.) Home insurance Buildings insuranceīuildings insurance covers the cost of repairing damage to the structure of your property. Here, we look at the costs of running a house or flat when you own it, including all the bills you'll need to budget for before taking the plunge into home ownership. As a homeowner you'll be responsible for a number of household bills and expenses, which you might not have had to cover if you've been renting.