First Home in Melbourne's south east - Bills and ongoing costs

bargainbot12 on 11/01/2016 - 15:46

Hi All,

I'm currently in the process of getting the contracts written up for my first home to be build in a brand new estate in Melbourne outer south east.

The house will be situated about 50km from the CBD in a south east direction and it should be move in ready Dec 2016.
It's a three bedroom house roughly 16sq and at this stage I believe four people will be living there.
3guys and 1 girl (1 couple)

I just wanted to know a ball park figure how much bills and other ongoings costs will be, I really don't know how much it will cost for Gas, Power and Water?
Is there an average I should be working too so I can figure out how much rent I need to charge the other two residents.

Thanks,

Financial

Comments

  • humdingaling on 11/01/2016 - 16:58

    Don't you think you should of done this before building

    for the utilities (gas/electricity/water) all will have some sort of "average" price for you to get a handle of things
    ie water - http://southeastwater.com.au/SiteCollectionDocuments/Residen…
    electricty - http://tools.switchon.vic.gov.au/energy-calculator/tools-ene…

    also include council rates, telephone/internet

  • saine on 11/01/2016 - 17:08
    +1

    In terms of charging the other residents, can you just split the bills 40 / 20 / 20? That way, there's an incentive in conserving power, etc. Otherwise people have a tendency to just burn it without thinking.

  • serpserpserp on 11/01/2016 - 19:34
    +1

    Is 50km from the CBD still considered part of Melbourne?

  • ms_caz on 12/01/2016 - 07:03

    Welcome to the sunny south east. Building in a new estate here too. Are you just hoping to rent out spare bedrooms in order to help pay the mortgage, or are you a group of friends planning to move in together? A 16sq m house is pretty small for four independent adults - you will all have to get along well together! If you have ever lived in a share house before, then you would understand that most bills are just apportioned equally as they arrive, however I guess it is different in this circumstance as it sounds more like you will be in the role of landlord but living on premises.

    Some thoughts:
    How are you going to deal with insurance? Will you take out the home and contents insurance and then pass on some of the cost to your tenants, or will they have to get separate contents insurance for each person? Can that even be done?

    Have you considered the parking issue? Houses out here are crammed onto tiny lots and typically most people use their garages for extra storage not parking their car. Which means three or four cars on the driveway or street - and we aren't talking wide open boulevards! In some of the estates and especially for the smaller houses, there is no front yard to speak of, so there is no option of parking there, even if you did want to. Not sure what the solution is to this - you will definitely need to have cars, but be aware that there just might not be enough space for parking. If you are planning to rent out rooms then be aware that lack of parking could be something that makes your place less appealing.

    Good luck with your build.

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