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simoh1490

Older Persons Budget, UK, how much?

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I'm trying to help an elderly British gentleman return to the UK to live and one of my tasks is to work out a budget for him. He's in reasonably good health, single with no family in the UK and plans to buy a one bedroom flat, I haven't lived in the UK for so long my numbers may not be reliable hence any pointers you can provide will be gratefully received. The initial monthly budget looks like this:

 

Rent - 0

Electric - 70 (heat, light and cooking)

Council Tax - 76 (Band A with 25% discount)

Internet/wifi - 22

Water/sewerage - 35

Contents Insurance - 6

TV license - 12

Groceries/Supermarket - 230

Car costs - 0

Medical costs - 0

Entertainment - variable

Travel - variable

 

Thanks in advance

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House and contents insurance will be a lot more than that.  

I would think £100 a week would be more like it for supermarket.

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22 minutes ago, theoldgit said:

The first question I have to ask is what do you call elderly, as I make my way through the decades my interpretation of the word changes?

I do wonder why your "elderly" friend is considering buying a flat rather than renting at his age, whatever that may be, with no family in the area, might he be better renting, freeing up capital and making it easier to change plans in a year or so if the need arrives?
Like your good self I'm a bit out of touch with UK prices, but you don't seem to be far off the mark, though it would of course depend on the his location and lifestyle, I'm assuming he's thinking of a town or city rather than somewhere more rural.
Of course if he is elderly enough to qualify he would be entitled to a free bus pass which would enable him to travel on local buses throughout the UK  

5

He's 70 years old in June so yes, he will qualify for a bus pass.

 

I've been round and round with him regarding buy vs rent. He's determined to buy because he wants to preserve his capital which he sees as extremely important, capital preservation is one of his motivations for going back. He's one of those people you just know he's going to live for another 20 years at least.

 

He wants to move to Lancaster which is not a bad choice at all, plenty of available lower cost accommodation, low crime and a vibrant place to live - being on the edge of The Lakes is a bonus of course, being near to Morecambe, less so.

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North or south massive variables in housing and council tax ? 

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1 minute ago, sammieuk1 said:

North or south massive variables in housing and council tax ? 

The Council Tax quote is live and from the Council where he will live - property costs however are outside of my remit..

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Posted (edited)

You do not need a tv license over the age of 75 I think.

If someone could tell the OP about how easy or hard it is to get temporary accommodation, say a bedsit, and get help from the local authority with

the rent.

He could use this to allow him to stay until he finds a suitable one bedroom flat to buy.

Edited by possum1931

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2 hours ago, theoldgit said:

The first question I have to ask is what do you call elderly, as I make my way through the decades my interpretation of the word changes?

I do wonder why your "elderly" friend is considering buying a flat rather than renting at his age, whatever that may be, with no family in the area, might he be better renting, freeing up capital and making it easier to change plans in a year or so if the need arrives?
Like your good self I'm a bit out of touch with UK prices, but you don't seem to be far off the mark, though it would of course depend on the his location and lifestyle, I'm assuming he's thinking of a town or city rather than somewhere more rural.
Of course if he is elderly enough to qualify he would be entitled to a free bus pass which would enable him to travel on local buses throughout the UK  

I don't think you can get a free bus pass to cover the whole UK, only the country you are living in.

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2 minutes ago, Gruff said:

I was living in centre of London a few years back and yes the grocery costs are way too high. Supermarkets are cheap and there  are always reduced foods an hour or 2 before shop closes. £100 per week would be a very healthy  budget for supermarket old or not.  If you own a property i  reckon allow roughly £200 per month for all the utilities / maintenance / council tax etc. It sounds like you have had this conversation with him but he seems determined to take money to the grave with him. At 70 years old i am far from convinced buying over renting makes sense. He may appear young and healthy now but regrettably it seems to only take one illness or  one fall and people 70 plus can go downhill very rapidly.

Rather than take money to the grave, his wish is to ensure he has enough money to leave to his extended Thai family, I won't bore with the details but it's a noble idea that commands respect.

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BANGKOK 23 April 2018 18:13
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