Those of us who call Manchester home will doubtless already be aware that the city is one of the top places to live in the UK.
However, it’s nice to be proved right by someone other than ourselves, which is why it was great to see that a recent Sunday Times report stated that several areas of Manchester, including Sale, Stockport and Ancoats, were among the best places to live in the UK.
For those who are looking to move to this gorgeous city and get the best out of it, there are many benefits, most notably the fact that the city has many areas that are affordable when it comes to buying property.
So, if you want to get the most out of your cash, buying a home in Manchester might be the perfect solution. While properties in many of these areas are cheaper than they would be in other cities, there are additional costs you might have to take into account.
As we’re all counting the pennies right now, we’ve created this guide to the main costs you might encounter if you’re buying a property in Manchester and moving into it soon. Some of these costs are specific to Manchester, while others are more associated with the general rigours of property ownership, but either way, they’re worth knowing about, especially if you’re a first-time buyer.
Basic Property Maintenance
Every property needs care and attention to stay safe and comfortable, but homes in Manchester can be particularly in need of checks and repairs, especially if you go for an older home. While you might save on the purchase price, you’ll have to set aside money for initial renovations and then ongoing repairs throughout the time you live in the property. When you first move in, checks such as an electrical safety certificate are important if you have new wiring fitted. Learn about the cost of an EICR and other vital safety inspections before you commit to purchasing a new home.
Council Taxes
Council taxes are a regular expenditure that everyone needs to account for, and they vary depending on your income, the tax band your property falls into and the local authority that you have to pay. Everywhere is different, and some local authorities in Manchester charge more for council tax than others, so you need to check how much the fees are. Also, review what services you get for this cost, as some councils will charge extra for some waste removal services, while others will include these in their monthly fees. So, by checking what you’re entitled to and comparing this with the cost, you can find the most cost-effective place to live in Manchester.
Private Healthcare
Healthcare costs are generally covered by the National Health Service (NHS) in the UK, but some homeowners might want to choose to purchase private health insurance for additional coverage, which can cost several hundred pounds per year or more. In Manchester, where two areas are the worst in the country for hospital waiting lists, it might be advisable for those with large families, or anyone who’s at risk of serious illness, to consider private insurance to help them to get the treatment they need faster. Private healthcare providers don’t usually offer emergency care, but they can help with the treatment of longstanding illnesses and speed up the waiting times for urgent procedures, including diagnostic tests and surgeries. As such, private healthcare can be a useful idea for those who live in areas with high hospital waiting lists, like many parts of Manchester, but it will be another expense you’ll have to add to your budget.
Car Fees
Manchester has an extensive public transportation system, including buses and trams, but if you have to drive for work, then you might need to run your own vehicle. If that’s the case, then you’ll need to be prepared to pay more than you would in a smaller city. Manchester has a clean air zone, where you’ll be charged for driving your car. Also, parking can be pricey in Manchester, particularly if you need to leave your car in or around the city centre. If your new home doesn’t have private parking, then you may have to pay to rent a garage or parking space, which can significantly raise the cost of your new home. So, you need to figure out how much your car will cost to run if you’re going to need one to get yourself around Manchester.
Entertainment
Everyone knows that Manchester is famous for its amazing nightlife and great entertainment scene: that’s probably part of the reason why you want to move here! It might be vibrant and varied, but Manchester’s entertainment scene can also be incredibly expensive. Manchester has a rich musical heritage, and it’s a hub for live music events, which can all quickly get expensive when you factor in not only ticket costs, but also food, drinks and transportation. The same goes for the city’s exhilarating nightclubs and other entertainment venues, such as its great sporting arenas. Manchester’s diverse entertainment scene ensures that there’s something for everyone, whether you’re interested in music, arts, sports, or simply enjoying a night out in the city, but entertainment costs can vary significantly based on your preferences and how frequently you choose to enjoy these activities. Whatever you love to do, you’ll have the opportunity if you move to Manchester, but making sure you set aside the funds is the important part.
Management And Maintenance Fees
Manchester is well-known for its gorgeous skyline, and the council is looking to add to that by approving a range of high-rise developments, which are due to be completed over the coming years. If you’re looking to move into a flat in a high-rise building, then you’ll need to be prepared to pay potentially sky-high maintenance fees for essentials like lifts and window cleaning. As such, if you’re looking to move into a flat in Manchester, especially one in a tall building, make sure you check the maintenance fees and ground rent costs so that you can get an accurate picture of how much you’ll need to pay each month for your property.
Energy Costs
Everyone knows that energy costs are high right now, as the world struggles with various supply chain and wholesale price issues. However, for those looking to buy a property in Manchester, there are additional issues to consider. For anyone seeking to purchase a flat, especially if you’re looking in one of the many high-rise properties in the city, checking how much your energy will cost and what options you have is crucial. Some large tower blocks have communal energy metres or shared heating services, so you might have no choice in what provider you work with and how you pay your bills.
At the end of the day, everyone’s living costs are different: they vary greatly depending on your individual circumstances and lifestyle. As such, these suggestions are meant to provide a general idea of what to expect in top Manchester locations. Before you buy a home in this vibrant city, it’s best if you create a detailed budget based on your specific needs and financial situation to get a more accurate picture of your potential expenses.
