How much do you earn a week/ month?
What outgoings do you already have that you must pay each week/ month (i.e. phone contract, subscriptions, debts, travel costs)
How much is the property you’re interested in a week/ month?
How much would the bills be for that property (Gas, Electric, Water, Council Tax)
Have you thought about all the other outgoings you’d have to pay for when living independently? Food, insurance, travel, phone & internet, social life?!)
Can you afford it?!
Use this budget planner tool from the Money Advice Service to help work this out.