My estimate of costs......
Imtrying to draw up a list so I can roughly calculate how much money we need to save up. Please feel free to tell me your experiences, if Ive over-estimated, underestimated on anything, or just being plain stupid:D
Im a begininer, so please go easy on me before you:rofl: (This is for 2 adults from UK and 2 children under 5) Visa's and health checks etc: Currently finding out Legal Fee's: Shipping: £3500 Plane Tickets: £2000 to £3000 2 months rent: dont know where yet -so will update but estimate: £2000 Money for 2 cars when arrive: £1000 to £2000 - not fussy! Car insurance for 2 cars a year: £500 to £800 1 month car hire: £500 Accomodation for on route: £200 Money for 2 months spending and food bills: £1500 Please feel free to add, I will add as I go along and find out more:) |
Re: My estimate of costs......
Originally Posted by ozzydreamer
(Post 5796555)
Imtrying to draw up a list so I can roughly calculate how much money we need to save up. Please feel free to tell me your experiences, if Ive over-estimated, underestimated on anything, or just being plain stupid:D
Im a begininer, so please go easy on me before you:rofl: (This is for 2 adults from UK and 2 children under 5) Visa's and health checks etc: Currently finding out Legal Fee's: Shipping: £3500 Plane Tickets: £2000 to £3000 2 months rent: dont know where yet -so will update but estimate: £2000 Money for 2 cars when arrive: £1000 to £2000 - not fussy! Car insurance for 2 cars a year: £500 to £800 1 month car hire: £500 Accomodation for on route: £200 Money for 2 months spending and food bills: £1500 Please feel free to add, I will add as I go along and find out more:) Not sure where you intend to live but we have capped ourselves at £1130 per month rent which is based on a $600 dollar a week property which should get a nice 3 bed in a good suburb. We have allocated $150 a week for food which comes out at £270 monthly. As for cars, be ready for a big suprise cos even though you are not fussy they are expensive and hold their price 2nd hand. We are not planning on geting a car unless it is absolutely necessary, my colleagues out there use public transport which is excellent. For example £2000 would get you a 1990 Ford!!! |
Re: My estimate of costs......
Will bear that in mind for cars, running around in a 1996 Golf at mo. which cost £1400 about 3 years ago, so big shock! Will try to live off one car to start with, so will consider transport for location
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Re: My estimate of costs......
Originally Posted by ozzydreamer
(Post 5796922)
Will bear that in mind for cars, running around in a 1996 Golf at mo. which cost £1400 about 3 years ago, so big shock! Will try to live off one car to start with, so will consider transport for location
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Re: My estimate of costs......
ok, so ammended:
OH visaand medical, do it ourseleves: £2000 Shipping costs, or money for furniture if dont ship: £3500 Flights and accomodation: £2000 Legal fee's to rent out house in UK: £3000 Rent for 2 months: £2000 Food and spending money an d bills for 2 months: £1500 Car: £2500 Insurance/tax for car: £500 to £800 1 month car hire if necessary: £500 Total so far: £17,800!! We estimated between 15 and 20 thousand, so in the middle at moment! |
Re: My estimate of costs......
Originally Posted by ozzydreamer
(Post 5797096)
ok, so ammended:
OH visaand medical, do it ourseleves: £2000 Shipping costs, or money for furniture if dont ship: £3500 Flights and accomodation: £2000 Legal fee's to rent out house in UK: £3000 Rent for 2 months: £2000 Food and spending money an d bills for 2 months: £1500 Car: £2500 Insurance/tax for car: £500 to £800 1 month car hire if necessary: £500 Total so far: £17,800!! We estimated between 15 and 20 thousand, so in the middle at moment! |
Re: My estimate of costs......
Dont know, thats what soemone else put in another thread so thought Id copy:rofl: Supose its beter to over estimate!!
Havent got a clue about buy to let, if we have to change all documents, what it would cost etc. so searched topics on here and came up with that random figure, only found one figure on here! |
Re: My estimate of costs......
Originally Posted by ozzydreamer
(Post 5797096)
We estimated between 15 and 20 thousand, so in the middle at moment! |
Re: My estimate of costs......
Originally Posted by ozzydreamer
(Post 5797206)
Dont know, thats what soemone else put in another thread so thought Id copy:rofl: Supose its beter to over estimate!!
Havent got a clue about buy to let, if we have to change all documents, what it would cost etc. so searched topics on here and came up with that random figure, only found one figure on here! |
Re: My estimate of costs......
So you didnt need to get a solicitor to change anything? Presumed there would be legal work. Did your mortgage rate go up much? I read on here somewhere that you have to pay slightly more each month?
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Re: My estimate of costs......
Can you also elaborate on the 10% of rental? Is that done yearly, or monthly? And what happens if they dont rent it out for a month, do you strill have to pay them 10%?
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Re: My estimate of costs......
Originally Posted by ozzydreamer
(Post 5797096)
ok, so ammended:
OH visaand medical, do it ourseleves: £2000 Shipping costs, or money for furniture if dont ship: £3500 Flights and accomodation: £2000 Legal fee's to rent out house in UK: £3000 Rent for 2 months: £2000 Food and spending money an d bills for 2 months: £1500 Car: £2500 Insurance/tax for car: £500 to £800 1 month car hire if necessary: £500 Total so far: £17,800!! We estimated between 15 and 20 thousand, so in the middle at moment! |
Re: My estimate of costs......
Originally Posted by Centurion
(Post 5797925)
There are no legal fees to rent out your house. Appoint a managing agent and they will simply draft the tenancy with the incoming tenants anyhow.
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Re: My estimate of costs......
Originally Posted by ozzydreamer
(Post 5797096)
ok, so ammended:
OH visaand medical, do it ourseleves: £2000 Shipping costs, or money for furniture if dont ship: £3500 Flights and accomodation: £2000 Legal fee's to rent out house in UK: £3000 Rent for 2 months: £2000 Food and spending money an d bills for 2 months: £1500 Car: £2500 Insurance/tax for car: £500 to £800 1 month car hire if necessary: £500 Total so far: £17,800!! We estimated between 15 and 20 thousand, so in the middle at moment! Hi I think your food, spending money and bills needs to be doubled. With the exchange rate about 2.1 you have only left yourself $390 a week! On average we spend $250 to $300 a week food alone, then you have fuel which for us is $100 a week etc. Also we found car hire to be really expensive aswelll. In relation to renting, you may find it difficult to find a rental for just 2 months, most are usually for a minimum of 6 months. 20k should be okay as long as you are careful! :) All the best Sue |
Re: My estimate of costs......
Thanks for the input on food etc. The £3000 from legal costs can cover that as I over-estimated costs of renting out UK property.
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