Unexpected Costs Of Owning A Property

Posted in Lifestyle

Those of you who read my blog regularly (or know much about me) will know that I own my flat under the shared ownership scheme which you can read more about here. I know a lot of people who are saving up to buy properties completely or through shared ownership but some of them don’t know about the additional expenses which can come with owning your property.

Having your own furniture

This might seem like an obvious one but when you rent a lot of properties come fully (or partially) furnished meaning you don’t need to always buy the bigger items like the sofa, bed or dining table. Or if you do you might be in a shared home so only need to furnish your own room full of things. When you own your property you have to think of absolutely everything from wardrobes and beds to coffee tables and appliances.

If your appliances break you have to pay for it

When you’re in a rented property chances are if the washing machine or fridge breaks you might be covered for it and your landlord will pay out for items to be fixed or replaced. When you own your own property this is all up to you so good on you if you have insurance. Most of us though don’t insure our appliances, and realistically when you’ve spent all your savings on a deposit and furnishing a house/ flat how many of us have spare cash lying around? Responsible lending is on the rise though and you can opt for to get a payday loan to help cover the costs of your white goods breaking down and just pay it back at payday when your money clears.


All the different types of insurance

Most of us will have experience with car and travel insurance, but there are two more types of insurance you need to think about if you own your own property: Buildings and content insurance. I am lucky as being in a flat my buildings insurance (covering damage to the building itself) is covered, but if you’re in a house make sure you get this because if your house burns down could you afford to repair the building work?! Thought not! Contents insurance does what it explains on the time and insures your contents, all those clothes, jewellery, electronic items, beauty products and everything else housed within your home.

The costs of decorating

When you move into your own place it’s likely you’ll think straight away about painting walls, re-carpeting, putting up wallpapers, or perhaps knocking down a wall. While we all want our own special space and want it to be perfectly to our tastes remember to take on one challenge at a time because decorating can come at a cost. For example when getting new carpet it isn’t just the carpet you may need to shell out for it’s the underlay, the grippers, the labour to fit it and the person to get rid of your old carpet.

Those pesky bills you forgot about

You want the internet? If so most companies will make you pay for a landline even though you’ll probably never learn the number, and likely never use it. You want to watch TV live or on demand? Then remember you’ll need a TV license to do so! When you’re no longer a student council tax is a scary reality and in most cases works out at over £100 a month, another expense to add to the pile!

What unexpected costs do you find you have?

*This post is sponsored by Vivus Loans but all words and opinions are my own
July 4, 2016
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  • Owning a property is SO expensive. Things in our house always seem to go wrong in threes :-(

  • Melanie Edjourian

    There is a lot to think about wen buying a property but it is also better to try and get on the property ladder if you can.

  • The insurance, man. All the calls to renegotiate. Not the one!

  • omg! that’s why I prefer to rent an apartment or living in a student accommodation now that I still can… but it’s definitively a good idea to plan ahead all those costs in advance! xx

  • Jenni Grainger

    The costs that come with owning a property seem to be never ending x

  • Rosana McPhee

    Owning a property is a constant project but pending on the property it’s worth it on the long run.

  • We private rented a house for 3 and a half years and have been living in our bought house for the past 2 years. Its nuts how much difference there is between renting and owning! x

  • Kelly

    Boilers breaking down, the constant cycle of redecorating, ground rent, buying your leasehold (if you don’t own it), the list of unexpected costs goes on…

  • It is crazy the prices you have to pay – we rent but still have to pay out so much, we are in the process of moving and I dare not think about how much we have paid out so far. x

  • Owning a house is so expensive isn’t it! There’s constantly jobs and DIY and decorating that need doing. Luckily the pros definitely outweigh the cons! :)

  • I have to pay council tax and it certainly is a scary business. Growing up and owning property sucks.

  • Jessica Dearnley

    My friend has recently bought a new house and the amount of money she has spent furnishing it has been crazy. I rent unfurnished, but at least I don’t have to deal with appliances breaking down etc

  • Kira L Curtis

    From living with parents and then becoming a student to then living on your own, the costs really do add up! It not nice to be reminded but it’s definitely helpful!

  • I know it can be costly, but I can’t wait until I have a home of my own!


  • There’s so much to think about! I don’t feel like I’m even close to being enough of an adult to own a house, haha!

    Jess xo | The Indigo Hours

  • Jessica

    The bills can really be nigthmares Planning ahead and looking for alternatives could at least lessen some of these unexpected costs.

  • Owning your own property can be expensive in the maintenance department, but well worth it I think.

  • kitty kaos

    to be honest some of these are the reasons I rent but then a big bonus is that you have an investment and security xx

  • Tanya Brannan

    I love owning my house, but the repair bills and associated problem do give me a headache sometimes!!

  • Ali

    Oh yes don’t I know how expensive owning a house is! The worst is repairs you have to make that cost a fortune!

  • We rent and we have every single one of those expenses too. It’s not cheap, this having a home, is it!

  • Ergh I don’t want to have to think about any of these! I’ve never rented my own property and am not looking forward to the day I do…

  • i would completely forget about the insurance! decorating the house would be the first thing like you said but again, money money money

  • Hannah Heartss ❄️⛄️

    Everything is so expensive, I am dreading moving out to be honest x

  • It’s no joke owning a home, that’s for sure. When something big needs doing (like a roof or furnace), it’s panic time with the money!

  • mel Sak

    All those little extras add up!

  • Laura

    Thanks so much for this post- I’m going to be a first time buyer this year, hopefully, so I definitely needed to read this! xxx

  • I am renting but experienced some of these as my flat was completely unfurnished so I had to buy all myself and insure it all myself

  • beautykinguk

    I am thankful to have never rented, but I have seen from friends who have that it can be a nightmare.

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