395pcm rent on 1000 monthly wage?

manny89

Hi,

I was just wondering if people think it would be possible to rent a flat which is 395pcm all bills included, when my monthly wage is around 900-1100 pounds a month?

Or would that be a bit difficult?

Thanks for your help.

waynehayes

More information is needed really. Does that monthly charge really include everything? Council tax, service charge, water, gas etc? Do you have any other outgoings like loans or car payments.
I think it could be done, but it all depends on your lifestyle.

manny89

Thanks for your reply

It includes everything. I have no debts, transport is deducted from wage (around 40/month), don't have a car. Would just be feeding myself.

While it could be doable, does 395 seem particularly a lot? In comparison with my wage.

dancingfairy

Hmm it is quite high in relation to your wage. It depends where you live though as in London I beleive people pay up to about 50% of their wage on housing.
Basically you'll have 500 to 700 a month to yourself for entertaining, any bills you may have, clothing, holidays, birthdays/christmas, unexpected emergencies etc etc.
Should be doable if you have a modest lifestyle. It depends what your options are really - is this a comparative rent for where you are? are you currently living with family/friends and can wait for a bit?
What is your current lifestyle? How much do you spend currently on clothing, entertainment, holidays etc.

I have 300 a month for food, entertainent, travel, clothes etc and I struggle. I can basically afford 1 thing per month - ie 1 expensive meal out, 1 train ticket, 1 or 2 bits of clothing etc on top of my day to day food etc. Realistically I really could do with another 50-100 pounds a month (and I think I have a fairly modest lifestyle).

Would you be entitled to any housing benefit at all? Might be worth investigating.
df

manny89

At the moment I pay 200 rent and bills (I live with parents), 40/month metro ticket, 84/month bus ticket, 21/month phone, and save 300/month from this wage.

If I move out from parents I will no longer need the 84:month bus ticket.

The other flatshares that I have seen are around 300/month but that's not including bills, so I'm assuming they would end up being more than 395.

It's all very confusing! Thanks for the responses

gazter

just a point, is that your wage after tax, ie what you get at the bottom of your payslip, it makes a difference....

The thing you learn when you move out of your parents home, is just how much everything costs.. All those little things add up.

Lagoon

I have about the same amount of spare money per month, and it's an amount that you can manage on, IMO.

You won't have lots of spare money to spend or save, but equally you're not going to struggle if you're sensible.

J_i_m

If your take home wage is £1000-1100 per month and your rent of £395 per month really is "all inc" then £600 to spend on food and general groceries plus a little bit of a life, is easily doable.

Building_Surveyor

Many years ago I was paying £600 rent with a 1k month wage excluding bills, so depends on the lifestyle you lead.

manny89

Thank you everyone, you have all been very helpful.

Yes it is the wage after tax.