We have no idea how much it costs to run our home - and those in their 70s and 20s are the worst at estimating bills

Catherine Neilan
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Happy Family
Sure, everyone looks happy - but wait until the bills come rolling in (Source: Getty)

A huge proportion of us just don't have a handle on how much it costs to run a home, massively underestimating the cost of their monthly direct debits, including utilities bills and even rent or mortgage.

Over a third of Britons have no idea how much it costs, new research by Zoopla suggests, while one in 10 of us admit we don't pay attention to direct debits.

The average homeowner estimates they spend £812 running their home - but this is 54 per cent less than the actual average cost of £1,505.

The average renter, meanwhile, thinks they are spending £1,227 per month, which is 33 per cent less than the average cost of £1,819 comes in.

Of those surveyed, the over 70s turned out to be the most clueless, with nearly half (43 per cent) admitting to not knowing the costs of their property.

Not far behind, those in their 20s were also particularly unknowing with 42 per cent admitting to being unaware, with one in 10 saying they had no idea whatsoever.

While more than half of us (55 per cent) know what our monthly running costs are individually, we don’t know what our monthly total bills come to. One in five (21 per cent) also admit they are confused about the running costs of their home due to bills fluctuating from month to month.

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